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Wednesday, October 27, 2021

Listing of shares of Sansera Engineering at a premium, investors got this much return on the first day

The shares of Sansera Engineering were listed on the NSE at a premium of about 9 percent at Rs 811.50 against the issue price of Rs 744.

Sansera Engineering Listing: The shares of Sansera Engineering, which makes automobile components, have been listed at a premium in the market today on 24 September. Its shares were listed on the NSE at a premium of about 9 percent at Rs 811.50 against the issue price of Rs 744. It reached a high of Rs 832.35 in early trade. Its market cap at the time of listing stood at Rs 4168.54 crore. Post successful listing, it has joined the league of Endurance Technologies, Minda Industries, Sundaram Fasteners, Suprajit Engineering, Bharat Forge, Motherson Sumi Systems and Mahindra CIE Automotive.

The company had earlier tried to get listed in the domestic equity market as well. About three years ago in August 2018, the company had submitted papers to SEBI to bring the IPO and SEBI’s approval was also received. Sansera Engineering has a business relationship of more than 30 years with Maruti Suzuki.

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IPO was subscribed 11.47 times

The Rs 1283 crore IPO was open for subscription from September 14-16 and was subscribed 11.47 times. Although no new shares have been issued under this IPO, rather 1.72 crore equity shares were issued through Offer for Sale (OFS). Before the IPO, the company had raised Rs 382 crore from anchor investors. The price band for the IPO was fixed at Rs 734-744 per share and lot size of 20 shares.

Company related details

  • Sansera Engineering manufactures complex and critical precision engineered components for the automotive and non-automotive sectors.
  • In automotive, the company manufactures connecting rods, rocker arms and supplies to aerospace, off-road, agriculture and other segments in non-automotive.
  • It is a leading supplier of Connecting Rods globally.
  • The company has 15 manufacturing plants across the country out of which 9 are in Bangalore. Apart from this, there is a plant in Sweden.
  • 65 percent of its revenue comes from India and the remaining 35 percent from other countries.
  • The automotive sector accounts for 88.45 percent of the company’s revenue.
  • The major source of revenue of the company is the sale of components of the internal combustion engine of the car.
  • The company’s revenue in FY 21 was Rs 1572.36 crore as against Rs 1828.24 crore in its previous financial year 2019-20. The company’s net profit (Profit After Tax) in FY 2021 was Rs 109.86 crore as compared to Rs 79.90 crore in its previous financial year 2020.

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