IPO Screener: Sansera Engineering issue subscribed 53% on Day 1

KS Badri Narayanan Chennai | Updated on September 15, 2021

Prevest DenPro, Markolines Traffic Controls issues open at BSE-SME

The ₹1,283-crore IPO of Sansera Engineering Ltd, a Bengaluru-based manufacturer of critical components, was subscribed 53 per cent on the first day of subscription on Tuesday.

The IPO received bids for 64,18,880 shares against 1,21,09,166 shares on offer, according to data available with the NSE. The category for qualified institutional buyers (QIBs) was subscribed 29 per cent, while non-institutional investors seven per cent and retail individual investors (RIIs) 87 per cent.

The issue will close on September 16.

The IPO, which would be through a complete offer for sale (OFS) of 17.24 crore by existing investors Client Ebene, CVCIGP II Employees Ebene and certain promoters, has come out with a price band of ₹734-744. Market lot is 20 shares.

Sansera Engineering on Monday mopped up ₹382 crore from anchor investors ahead of its initial share sale by allotting 51,35,162 equity shares to anchor investors at ₹744 apiece. Government of Singapore, Monetary Authority of Singapore, Nomura, Abu Dhabi Investment Authority, Axis Mutual Fund (MF), ICICI Prudential MF, SBI Life Insurance Co Ltd, Max Life Insurance Company and Kuber India Fund are among the anchor investors.

Prevest Denpro

Prevest Denpro to raise ₹26.61 crore

The public issue of Prevest DenPro opens on Wednesday and closes on Friday at a price band of ₹82-84. The issue size is 31,68,000 equity shares of the face value of ₹10 each. At the upper end, the company will raise ₹26.61 crore.

Shares will be listed on the BSE-SME platform. Market lot is 1,600 shares.

The Book Running Lead Manager to the issue is Hem Securities Limited.

On Tuesday, the company has raised ₹7.58 crore from two anchor investors – Maven India Fund and Next Orbit Ventures Fund, by allotting 4.51 lakh shares each.

The net proceeds from the Issue will be used towards the purchase of machineries, equipment, utilities for the manufacturing of a proposed additional line of products, R&D unit, modernisation of existing manufacturing operations and general corporate purpose.

The Company is diversifying its operations with launch of new products in segment of hygiene (sanitizers and disinfectants), oral hygiene products (mouth washes and mouth rinses), oral care products (medicated ointments, gels and creams for dental treatment) and biomaterials (i.e. bone augmentation materials).

Markolines to raise Rs 40 crore

Markolines Traffic Controls, a Leading Highway operation and maintenance servicing providing company, IPO opens on September 15 and closes on September 20, at the BSE-SME platform.

According to the prospectus filed with BSE, 51,28,000 equity shares are offered at ₹78 a share aggregating to about ₹40 crore. Out of the total shares, 24,35,200 shares have been reserved for each Retail Individual Investors and Non-Institutional Investors. Market lot is 1,600 shares.

Gretex Corporate Services Limited is the Lead Manager of the issue.

The majority of the net proceeds of the issue will strengthen the capital base of the company and will be utilised for working capital requirements.

Published on September 15, 2021

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