On NSE, the scrip debuted at Rs 811.50, up 9.07 per cent.
The Rs 1,283 crore IPO, which was sold from September 14 to 16, had been subscribed 11.47 times during its offer period. The auto component maker received bids for 13,88,39,000 shares compared with 1,21,09,166 shares on offer.
The quota reserved for qualified institutional buyers category was subscribed 26.47 times, the non-institutional investors’ quota 11.37 times and retail individual investors’ (RIIs) portion 3.15 times.
Sansera is an engineering-led integrated manufacturer of complex and critical precision engineered components across automotive and non-automotive sectors. Within the automotive sector, the company makes a wide range of precision forged and machined components and assemblies that are critical for engine, transmission, braking and other systems for the two-wheelers, passenger vehicles and commercial vehicle verticals.
In the non-automotive sector, Sansera Engineering manufactures precision components for the aerospace, off-road, agriculture and other segments, including engineering and capital goods.
The IPO was valued at 35 times Sansera’s FY21 earnings, which was at a 17 per cent discount to its peers like Endurance Technologies.
The company’s working capital cycle, which stood at 79 days in FY21 and steady cash flow over the years offer comfort, analysts said, while adding that FY21 asset turnover ratio at 1.15 times indicates that the company can sustain higher growth with likely improvement in automobile volume in the subsequent years.
