The automotive component supplier has finalised allotment of 46,30,842 equity shares to 15 anchor investors at a price of Rs 332 per share, the higher end of price band.
New Delhi-based Sandhar Technologies has garnered Rs 153.74 crore from anchor investors on Friday, a day before the issue opens.
The automotive component supplier has finalised allotment of 46,30,842 equity shares to 15 anchor investors at a price of Rs 332 per share, the higher end of price band.
Anchor investors include DSP Blackrock MF, ICICI Prudential MF, HSBC Global Investment Fund, Eastspring Investment India, Aditya Birla MF, Nomura, SBI MF, Reliance MF, L&T MF, IDFC MF, Theleme Master Fund, Volrado Venture Partners Fund, Aurigin Master Fund and UTI MF.
The public issue will open for subscription on March 19, with a price band of Rs 327-332 per share.
The offer consists of a fresh issue aggregating up to Rs 300 crore and an offer for sale of up to 64 lakh equity shares by GTI Capital Beta.
The issue will close on March 21. Bids can be made for a minimum lot of 45 equity shares and in multiples of 45 equity shares thereafter.
The company is the leader in the two-wheeler locking systems market, and the commercial vehicle rear view market in India, and one of the two largest companies catering to the commercial vehicle locking systems market, and the two-wheeler rear view market in India.
The company is also one of the two largest manufacturers of operator cabins in India, along with being the largest player in the excavator cabins market, according to CRISIL report.
The company’s customer portfolio consists of 79 Indian and global OEMs across various segments, which includes two-wheelers firms - Hero, TVS, Royal Enfield, Suzuki etc.; passenger vehicles and commercial vehicles – Honda Cars, Tata Motors, Ashok Leyland, SML Isuzu etc., commercial vehicles, off-highway vehicles and tractors - Caterpillar, Escorts, Hyundai Construction, JCB, Komatsu, Mahindra & Mahindra, Tata Hitachi, TAFE, Volvo etc.
Equity shares are proposed to be listed on BSE and NSE. The book running lead managers to the offer are ICICI Securities and Axis Capital.