Sansera Engineering IPO will open for subscription next week, on September 14. The Bangalore-based auto component maker’s IPO will close on September 16. The IPO will be a complete offer for sale by existing shareholders, including Client Ebene and CVCIGP II Employee Ebene. The company has fixed the price band of the share sale at Rs 734-744 a share and is planning to raise Rs 1,283 crore at the higher end of the price band.
A total of 50 per cent of primary market issue is reserved for qualified institutional buyers, 35 per cent for retail investors and 15 per cent for non-institutional investors. Nine crore shares will be reserved for the employees, who will get these shares at a discount of Rs 36 to the final issue price.
Investors can make a bid for a minimum of 20 shares and in multiples of 20 thereafter, extending up to 13 lots.
Sansera Engineering was promoted by S Sekhar Vasan, F R Singhvi, Unni Rajagopal K and D Devaraj. It manufactures precision forged and machined components and assemblies critical for engine, transmission, suspension, braking, chassis and other systems.
ICICI Securities, IIFL Securities, and Nomura Financial Advisory and Securities (India) are the book-running lead managers to the public issue.