The IPO of the Bengaluru-based company consists of a pure offer for sale of 17,244,328 shares by its existing shareholders and promoters.
Those offering shares in the OFS are existing investors including Client Ebene, CVCIGP II Employees Ebene, and promoters including S Sekhar Vasan, Unni Rajagopal K, F R Singhvi, and D Devaraj.
At the higher end of the price band, the company is expected to raise Rs 1,283 crore via its initial shale sale. The Bengaluru-based auto component maker had filed preliminary IPO papers with SEBI in June.
Investors can bid for a minimum of 20 equity shares and in multiples of 20 equity shares thereafter. The issue will close for subscription on September 16, Thursday.
Sansera Engineering is an 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.
According to the draft papers, the company expects that listing of the equity shares will enhance its visibility and brand image and provide liquidity to shareholders. The listing will provide a public market for equity shares in the country.
Up to 50 per cent of the total offer is reserved for qualified institutional buyers and 15 percent for non-institutional investors. Remaining 35 per cent stake is allocated to retail investors.
The company has appointed ICICI Securities, IIFL Securities and Nomura Financial Advisory & Securities (India) to manage the issue. Link Intime India has been appointed as the registrar of the issue.
It is the second attempt by Sansera Engineering to go public. It had filed IPO papers with SEBI in August 2018 and had also received its clearance to float the public issue. However, the issue was not launched.
