Sansera Engineering IPO issue subscribed 0.79 times on Day 2

The portion reserved for retail investors was subscribed 1.38 times.

Sep 15, 2021 02:09 IST India Infoline News Service

Initial Public Offer, IPO
The initial public offer (IPO) of Sansera Engineering, a precision components maker, saw tepid demand from investors on the second day of bidding on Wednesday. The issue was subscribed 0.79 times.

The portion reserved for retail investors was subscribed 1.38 times. While the Qualified Institutional Buyer category was subscribed 0.29 times, and the Non-Institutional Investor category was subscribed 0.09.

The initial public offer (IPO) of Sansera Engineering received bids for 64.18 lakh shares as against 1.21 crore shares on offer on Tuesday according to stock exchange data.

The issue opened for bidding on Tuesday (14 September 2021) and it will close on Thursday (16 September 2021). The price band of the IPO was fixed at Rs734-744 per share. An investor can bid for a minimum of 20 equity shares and in multiples thereof.

The IPO is a complete offer for sale (OFS) of Rs1,282.98 crore by existing shareholders - Client Ebene, CVCIGP II Employee Ebene, S Sekhar Vasan, Unni Rajagopal K, F R Singhvi and D Devaraj.

Sansera Engineering is an engineering-led integrated manufacturer of complex and critical precision engineered components across automotive and non-automotive sectors. Within the automotive sector, company manufacture and supply a wide range of precision forged and machined components and assemblies, such as connecting rod, rocker arm, crankshaft, gear shifter fork, stem comp, and aluminium forged parts, that are critical for engine, transmission, suspension, braking, chassis and other systems for the two-wheeler, passenger vehicle and commercial vehicle verticals.

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