Sansera Engineering files initial papers for IPO

Our Bureau Mumbai | Updated on June 10, 2021

Being an OFS, the company would not receive any proceeds from the IPO

Sansera Engineering Ltd, a Bengaluru-based manufacturer of critical components, has filed initial papers with market regulator for IPO.

TheIPO 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, according to the Draft Red Herring Prospectus (DRHP) filed with SEBI. Being an OFS, the company would not receive any proceeds from the IPO.

ICICI Securities, IIFL Securities, Nomura Financial Advisory and Securities (India) are the book running lead managers to the issue and Link Intime India is the registrar.

This is the second IPO attempt by the company, as it had got SEBI approval in 2018, but didn’t launch the issue citing “unfavourable” market conditions.

“Our company expects that listing of the shares will enhance our visibility and brand image and provide liquidity to our shareholders and will also provide a public market for the shares in India,” it said in the filing.

For the financial year ended March 2021, Sansera Engineering had posted a 36.40 per cent rise in profit of ₹109.86 crore, compared with ₹79.91 crore recorded for the same year-ago period. For the year under review, the company’s total income had risen to ₹1,572.36 crore from ₹1,473.14 crore recorded for FY20.

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

For the automotive sector, the company manufactures and supplies a wide range of precision forged and machined components and assemblies, such as connecting rod, rocker arm, crankshaft, gear shifter fork, stem comp and aluminium forged parts that are critical for engine, transmission, suspension, braking, chassis and other systems for the two-wheeler, passenger vehicle and commercial vehicle verticals.

Published on June 10, 2021

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