Sansera Engineering's Rs 1,283 initial public offering (IPO) will open for subscription tomorrow i.e. September 14 and will close on September 16. The Bangalore-based auto component maker's IPO will be an offer for sale by promoters Subramonia Sekhar Vasan, Unni Rajagopal Kothenath, Fatheraj Singhvi and Devappa Devaraj, and shareholders Client Ebene and CVCIGP II Employee Ebene. The shares will be sold in the price band of Rs 734-744 a share.
A total of 50 per cent of primary market issue is reserved for qualified institutional buyers, 35 per cent for retail investors and 15 per cent for non-institutional investors. Nine crore shares will be kept aside for the employees, at a discount of Rs 36 to the final price. Investors can make a bid for a minimum of 20 shares and in multiples of 20 thereafter, extending up to 13 lots.
Sansera Engineering was promoted by S Sekhar Vasan, F R Singhvi, Unni Rajagopal K and D Devaraj. It manufactures precision forged and machined components for engine, transmission, suspension, braking, chassis and other systems.
Sansera Engineering is the 39th company to hit IPO market.
ICICI Securities, IIFL Securities, and Nomura Financial Advisory and Securities (India) are the book-running lead managers to the public issue, whereas Link Intime India is the registrar to the issue.