Sansera Engineering IPO to open on September 14: Price band, issue size, lot size and more

Auto-component maker Sansera Engineering will open its initial public offer (IPO) for subscription on September 14. The Bengaluru-based firm's share sale will close on September 16. The firm plans to collect Rs 1,282 crore through the share sale.

The IPO comprises of an offer for sale of 17.24 million shares by its existing shareholders and promoters. The issue comprises sale of up to 8.64 million shares by Client Ebene Ltd, up to 4.84 million shares by CVCIGP II Employees EBENE, up to 2.06 million shares by S Sekhar Vasan, up to 5.71 lakh shares each by Unni Rajagopal K, FR Singhvi and D Devaraj.

The company has fixed price band of the issue at Rs 734 to Rs 744 per equity share.

ICICI Securities, IIFL Securities and Nomura Financial Advisory are the lead managers to the issue.

Shares of the firm are likely to be listed at bourses on September 24, 2021. A retail investor can bid for a minimum of 20 shares comprising a single lot for Rs 14,880.

A maximum of 13 lots comprising 260 can be bid for by spending Rs 1,93,440.

For the fiscal ended March 2021, the firm reported a total income of  Rs 1572.36 crore against Rs 1473.14 crore a year ago.

Net profit in last fiscal stood at Rs 109.86 crore against Rs 79.91 crore last year. Its aggregate outstanding fund and non-fund-based borrowings was  Rs 633.09 crore.

The company is an engineering-led integrated manufacturer of complex and critical precision engineered components across automotive and non-automotive sectors. The firm is one of the leading manufacturers of connecting rods, crankshafts, rocker arms and gear shifter forks for two-wheelers as well as passenger vehicles.

As of April 2021, the firm had 16 manufacturing facilities, of which 15 are in India in the states of Karnataka (Bengaluru, Bidadi, Tumkur), Haryana (Manesar), Maharashtra (Chakan), Uttarakhand (Pantnagar) and Gujarat (Mehsana), and one facility is in Trollhättan, Sweden.