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Sansera Engineering IPO Receives 11.47 Times Subscription On Closing Day Of Offer

The Rs 1,283-crore IPO received bids for 13,88,39,000 shares against 1,21,09,166 shares on offer, according to data available with the BSE.

Sansera Engineering IPO Receives 11.47 Times Subscription On Closing Day Of Offer
Sansera Engineering IPO Receives 11.47 Times Subscription On Closing Day Of Offer
outlookindia.com
2021-09-17T10:04:41+05:30

The initial public offering of auto component maker Sansera Engineering was subscribed 11.47 times on the closing day of the subscription on Thursday.

The Rs 1,283-crore IPO received bids for 13,88,39,000 shares against 1,21,09,166 shares on offer, according to data available with the BSE.

The qualified institutional buyers (QIBs) category was subscribed 26.47 times, non-institutional investors 11.37 times and retail individual investors (RIIs) 3.15 times.

The initial public offering (IPO) was of 1,72,44,328 equity shares in a price range of Rs 734-744 per share.

Sansera Engineering Ltd mopped up Rs 382 crore from anchor investors.

The company expects that listing of the equity shares will enhance its visibility and brand image and provide liquidity to shareholders. Also, the listing will provide a public market for the equity shares.

This is the company's second attempt to go public. Earlier, Sansera Engineering had filed IPO papers with Sebi in August 2018 and had also received its clearance to float the public issue.

However, it did not go ahead with the launch.

The Bengaluru-based firm is an engineering-led integrated manufacturer of complex and critical precision-engineered components across automotive and non-automotive sectors.

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