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Tuesday, October 19, 2021

IPO Wrap: Sansera Engineering IPO subscribed 11.47 times on final day led by QIBs, non institutional investors

Sansera Engineering IPO subscription status: Sansera Engineering IPO was subscribed 11.47 times on the final day of the offer.

By: Express Web Desk | New Delhi |
September 17, 2021 12:08:53 pm
Sansera Engineering IPO, Sansera Engineering IPO price band, Sansera Engineering IPO lot sizeSansera Engineering is an engineering-led integrated manufacturer of complex and critical precision engineered components across automotive and non-automative sectors. (Image: Sansera Engineering)

Sansera Engineering IPO subscription status: The initial public offering (IPO) of auto-components manufacturer Sansera Engineering, which was launched earlier this week was met with a firm demand by the investors.

Sansera Engineering IPO was subscribed 11.47 times on the final day, data available on the National Stock Exchange (NSE) showed. The Rs 1,283 crore offer received bids for over 13.88 crore (13,88,39,000) shares against the total issue size of 1.21 crore (1,21,09,166) shares, the data showed.

The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 26.47 times, while those of non institutional investors was subscribed 11.37 times and that of retail individual investors (RIIs) was subscribed 3.15 times. Separately, shares for the employees’ segment was subscribed 1.37 times, the data showed.

Half of the issue size was reserved for qualified institutional buyers (QIBs), 35 per cent for the retail investors and remaining 15 per cent is for non-institutional investors.

The IPO of the Bengaluru-based firm is entirely an offer for sale (OFS) of 17,244,328 equity shares by the selling shareholders, as per the information given in the red herring prospectus (RHP).

The IPO had opened for subscription on Tuesday, September 14, 2021, and concluded on Thursday, September 16, 2021. It had a price band of Rs 734-744 per share and before heading into the IPO, Sansera Engineering raised over Rs 382 crore (Rs 3,82,05,60,528) from 27 anchor investors in lieu of 51,35,162 equity shares at Rs 744 each.

Going ahead, investors will now look forward to the share allotment date of the issue. The finalisation of the basis of allotment for Sansera Engineering is expected to take place on Tuesday, September 21, 2021, as per the information provided in the red herring prospectus.

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