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Sansera Engineering IPO subscribed 53% on the first day: Everything you need to know

Sansera Engineering IPO subscription status: The initial public offering (IPO) of Sansera Engineering has a price band of Rs 734-744 per share and will be open for subscription during September 14-16, 2021. The issue got 53 per cent subscribed on the first day.

By: Express Web Desk | New Delhi |
Updated: September 14, 2021 7:05:34 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: The initial public offering (IPO) of Sansera Engineering opened for subscription earlier today. So far, the issue was subscribed 53 per cent by the end of the first day of bidding.

It received total bids for 64,18,880 shares across both the stock exchanges against 1,21,09,166 shares on offer, data from National Stock Exchange (NSE) showed.

The Rs 1,283 crore Sansera Engineering IPO will be available for subscription till Thursday, September 16, 2021, and the price band of the auto component maker has been fixed at Rs 734-744 per share.

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).

Those offering shares in the OFS are existing investors – Client Ebene, CVCIGP II Employees Ebene and promoters – S Sekhar Vasan, Unni Rajagopal K, F R Singhvi and D Devaraj.

The company would not will not directly receive any proceeds from the offer and all the proceeds will be received by the selling shareholders.

Investors who wish to subscribe to Sansera Engineering IPO can bid in a lot of 20 equity shares and multiples thereafter. At the upper price band, they will be shelling out Rs 14,880 to get a single lot of Sansera Engineering IPO. The shares will be listed on both BSE as well as NSE.

The applicants also must note that the cut-off time for UPI mandate confirmation is Friday, September 17, 2021, upto 12:00 pm. If they fail to do so then their application may not be considered.

ICICI Securities, IIFL Securities and Nomura Financial Advisory and Securities (India) are the book-running lead managers to the IPO while Link Intime India is the registrar of the issue.

The share allotment is likely to take place on Tuesday, September 21, 2021, and the shares are expected to be listed on Friday, September 24, 2021, according to the timeline given in the RHP.

Before heading into the IPO, Sansera Engineering raised over Rs 382 crore from 27 anchor investors. In the regulatory filing, Sansera Engineering informed that under anchor investors portion in the public issue 51,35,162 equity shares have been subscribed at a price of Rs 744 per share. This amounts to Rs 3,82,05,60,528.

The anchor investors include the likes of Government of Singapore, Monetary Authority of Singapore, Nomura, Abu Dhabi Investment Authority, Axis Mutual Fund (MF), ICICI Prudential MF, SBI Life Insurance Co Ltd, Max Life Insurance Company and Kuber India Fund.

Sansera Engineering is an engineering-led integrated manufacturer of complex and critical precision engineered components across automotive and non-automative sectors.

Within the automotive sector, it manufactures a wide range of precision forged and machined components and assemblies that are critical for engine, transmission, braking and other systems for the two-wheeler, passenger vehicle and commercial vehicle verticals.

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