Sansera Engg IPO to open on Sep 14; price band set at Rs 734-744/share

New Delhi: Auto component maker Sansera Engineering on Wednesday said it has fixed a price band of Rs 734-744 a share for its Rs 1,283-crore initial share-sale. The IPO will open for public subscription on September 14 and close on September 16. The bidding for anchor investors will open on September 13, the company said. The initial public offering (IPO) is entirely an offer for sale (OFS) of 17,244,328 equity shares by promoters and investors.

Those offering shares in the OFS are existing investors Client Ebene, CVCIGP II Employees Ebene and promoters S Sekhar Vasan, Unni Rajagopal K, F R Singhvi and D Devaraj. At the upper end of the price band, the initial share-sale is expected to garner Rs 1,283 crore. Half of the issue size has been reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.

The company expects that listing of the equity shares will enhance its visibility and brand image and provide liquidity to shareholders. Also, the listing will provide a public market for the equity shares in the country. This is the company's second attempt to go public. Earlier, Sansera Engineering had filed IPO papers with Sebi in August 2018 and had also received its clearance to float the public issue.