Sansera Engineering’s Rs 1,283 initial public offering (IPO) will open for subscription tomorrow i.e. September 14 and can shut on September 16. The Bangalore-based auto part maker’s IPO will probably be a proposal on the market 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 probably be bought within the value band of Rs 734-744 a share.
A complete of fifty per cent of main market subject is reserved for certified institutional consumers, 35 per cent for retail traders and 15 per cent for non-institutional traders. Nine crore shares will probably be saved apart for the workers, at a reduction of Rs 36 to the ultimate value. Investors could make a bid for no less than 20 shares and in multiples of 20 thereafter, extending as much as 13 tons.
Sansera Engineering was promoted by S Sekhar Vasan, F R Singhvi, Unni Rajagopal Ok and D Devaraj. It manufactures precision solid and machined elements for engine, transmission, suspension, braking, chassis and different techniques.
Sansera Engineering is the thirty ninth firm to hit IPO market.
ICICI Securities, IIFL Securities, and Nomura Financial Advisory and Securities (India) are the book-running lead managers to the public subject, whereas Link Intime India is the registrar to the difficulty.