Sansera Engg gains after various funds buy stake

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Sansera Engineering rose 3.04% to Rs 843.55 after various domestic and global asset managers acquired stake in the company.

On Friday (24 September 2021), Abu Dhabi Investment Authority acquired 4.87 lakh shares (0.95% equity) of the company at an average price of Rs 821.48 per share.

Nomura Funds Ireland bought 6 lakh shares (1.17% equity) of the firm at an average price of Rs 820.10 apiece.


Plutus Wealth Management acquired 5 lakh shares (0.97% equity) of the firm at an average price of Rs 811.50 per share.

IIFL Asset Management bought 3.97 lakh shares (0.77% equity) of Sansera Engineering at an average price of Rs 818.01 per share.

IIFL Mutual Fund purchased 4.70 lakh shares (0.92% equity) of the company at an average price of Rs 820.09 apiece.

Sansera Engineering debuted on the bourses on Friday (24 September 2021), at a price of Rs 811.35 per share, at a premium of 9.05% as compared with the issue price of Rs 744 per share.

The initial public offer (IPO) of Sansera Engineering opened for bidding on 14 September 2021 and closed on 16 September 2021. The price band of the IPO was Rs 734-744 per share.

The IPO received bids for 13.88 crore shares as against 1.21 crore shares on offer. The issue was subscribed 11.47 times.

The qualified institutional buyers (QIBs) category was subscribed 26.47 times, the non-institutional investors category was subscribed 11.37 times and the retail individual investors (RIIs) category was subscribed 3.15 times.

The IPO was complete offer for sale (OFS) issue of Rs 1,282.98 crore by existing shareholders – Client Ebene, CVCIGP II Employee Ebene, S Sekhar Vasan, Unni Rajagopal K, F R Singhvi and D Devaraj.

The company will not directly receive any proceeds from the offer, and all the offer proceeds will be received by the selling shareholders, in proportion to the offered shares sold by them.

The promoters and promoter group hold an aggregate of 2,25,58,375 equity shares, aggregating to 41.98% of the pre-offer issued and paid-up equity share capital. The post IPO shareholding for the same is expected to be around 34.96%.

Ahead of the IPO, Sansera Engineering on 13 September 2021 finalized allocation of 51,35,162 equity shares to anchor investors at an allocation price of Rs 744 per share, aggregating to Rs 3,82,05,60,528.

Sansera Engineering is an engineering-led integrated manufacturer of complex and critical precision engineered components across automotive and non-automotive sectors.

The company reported a consolidated net profit of Rs 107.99 crore and total income of Rs 1,549.27 crore in the twelve months ended 31 March 2021.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, September 27 2021. 11:39 IST