Sansera Engineering will launch its initial public offering (IPO) on September 14 at a price band of Rs 734-744 per equity share. The issue will close on September 16.
The public issue is a complete offer for sale (OFS) of 1,72,44,328 equity shares by existing selling shareholders. The OFS comprises the sale of 86,35,408 shares by Client Ebene Ltd, 48,36,723 shares by CVCIGP II Employees EBENE, 20,58,069 shares by S Sekhar Vasan, 5,71,376 shares each by Unni Rajagopal K, FR Singhvi and D Devaraj.
At the higher price band, the company intends to garner around Rs 1,283 crore from the issue.
The IPO market lot size is 20 shares and a retail-individual investor can apply for up to 13 lots.
The company has reserved shares worth Rs 9 crore for employees who will get these shares at a discount of Rs 36 to the final issue price. Half of the issue is reserved for qualified institutional buyers, 35 percent for retail investors, and 15 percent for non-institutional investors.
ICICI Securities, IIFL Securities, and Nomura Financial Advisory and Securities (India) are the books running lead managers to the issue.
Sansera Engineering is Bengaluru-based manufacture of a range of precision forged and machined components and assemblies for the two-wheeler, passenger vehicle and commercial vehicle verticals 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
In FY21, the company earned 88.45 percent, and 11.55 percent of revenue from the sale of products from the automotive sector and non-automotive sectors, respectively.
The company is the largest supplier of connecting rods, rocker arms and gear shifter forks to two-wheeler OEMs in India. It is the largest supplier of connecting rods and rocker arms to passenger vehicle OEMs in India.
The company has 15 manufacturing plants across India of which 9 are in Bangalore.