The shares of Sansera Engineering got listed on 24 September. On Friday, its shares were listed at a premium of 9 per cent. Looking at the problems of the auto sector, there were chances of it getting listed at a low premium. On Friday, its shares were listed on NSE at Rs 811.50. This is only 9.07 percent more than the offer price of its primary issue. Whereas in BSE it was listed at 9.05 percent premium i.e. Rs 811.35. However, after a slow start, the stock gained some momentum and during intraday trading, it touched the level of Rs 841.95 on NSE. On the BSE, it achieved the level of Rs 842 during the last half hour of trading.
IPO of Rs 1283 crore was subscribed 11.47 times
64 lakh shares of Sansera Engineering were traded in the first half hour on NSE. Auto component manufacturers Sansera Engineering’s IPO of Rs 1283 crore was subscribed 11.47 times. The subscription was open from 14 to 16 September. This IPO was purely an offer for sale. Shareholders of the company had sold their 17,244,328 equity shares under this.
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What is the opinion of experts?
Analysts say that Sansera Engineering has achieved an EBITDA margin of 17.6 percent in the financial year 2020-21. The return ratio is 10 to 12 percent. Talking about the balance sheet, according to the report of ICICI direct research, debt and equity are at 0.6 times. By valuation, the stock is present at 35 times the P/E on EPS at an upper end price of Rs 744 in FY21. The challenge before the company is to keep pace with the emerging industry trends and technology. At the same time, its dependence remains on some major customers as well. Also, the price front is expected to remain under pressure from the customers.
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