Sansera Engineering’s Rs 1,283 preliminary public providing (IPO) will open for subscription tomorrow i.e. September 14 and can shut on September 16. The Bangalore-based auto part maker’s IPO can be a suggestion 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 can be bought within the value band of Rs 734-744 a share.
A complete of 50 per cent of major 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 can be stored apart for the staff, at a reduction of Rs 36 to the ultimate value. Investors could make a bid for at least 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 Okay and D Devaraj. It manufactures precision solid and machined parts for engine, transmission, suspension, braking, chassis and different methods.
Sansera Engineering is the 39th firm to hit IPO market.
ICICI Securities, IIFL Securities, and Nomura Financial Advisory and Securities (India) are the book-running lead managers to the general public subject, whereas Link Intime India is the registrar to the difficulty.