Sansera Engineering raises Rs382.05cr from 27 anchor investors at the upper price band of Rs744 per equity share

Sansera Engineering allocates 5,135,162 equity shares at the upper price band of Rs744 per share.

Sep 14, 2021 12:09 IST India Infoline News Service

Initial Public Offer, IPO
Sansera Engineering Limited, an engineering-led integrated manufacturer of complex and critical precision engineered components across automotive and non-automotive sectors has allocated 15,18860 equity shares to 27 anchor investor and raised 382.05 crore ahead of the company’s proposed IPO at the upper band of Rs744 per share (including share premium of Rs742 per Equity Share)

Out of the total allocation of 5,135,162 Equity Shares to the Anchor Investors, 15,18,860 equity shares (i.e. 29.59% of the total allocation to Anchor Investors) were allocated to 2 Foreign Sovereign Fund and 2 Foreign Institutional investors

Out of the total allocation of 5,135,162 Equity Shares to the Anchor Investors, 10,61,910 equity shares (i.e. 20.69% of the total allocation to Anchor Investors) were allocated to 3 foreign mutual funds through a total of 4 schemes.

Out of the total allocation of 5,135,162 Equity Shares to the Anchor Investors, 994,660 Equity Shares (i.e. 19.37% of the total allocation to Anchor Investors) were allocated to 3 domestic mutual funds through a total of 7 schemes. Set forth below is a scheme-wise detail of mutual funds:

Out of the total allocation of 5,135,162 Equity Shares to the Anchor Investors, 9,07,300 equity shares (i.e. 17.68% of the total allocation to Anchor Investors) were allocated to 3 insurance companies through a total of 5 schemes

The Offer comprises of offer of sales of up to 17,244,328 Equity Shares (The “Offer for Sale”) by Promoter Selling Shareholders. The face value of equity shares is Rs. 2 each.

Bid can be made for a minimum of 29 Equity Shares and in multiples of 20 Equity Shares thereafter.

Company will not directly receive any proceeds from the Offer (the “Offer Proceeds”) and all the Offer Proceeds will be received by the Selling Shareholders, in proportion to the Offered Shares sold by the respective Selling Shareholders as part of the Offer.

In addition, the company expects to achieve the benefits of listing the Equity Shares on the Stock Exchanges, to enhance its visibility and brand image among existing and potential customers and creation of a public market for its Equity Shares in India.

ICICI Securities Limited, IIFL Securities Limited and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers (“BRLMs”) to the issue.

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