Auto component maker Sansera Engineering Ltd has filed preliminary papers with capital markets regulator Sebi via initial public offer (IPO).
The initial public offer (IPO) is entirely an offer for sale (OFS) of 17,244,328 equity shares by promoters and existing shareholders, draft red herring prospectus (DRHP) stated. Existing investors Client Ebene, CVCIGP II Employees Ebene and promoters -- S Sekhar Vasan, Unni Rajagopal K, F R Singhvi and D Devaraj are selling some of their shares in the company.
What you need to know about this company:
-The company was incorporated in 1981 in Bengaluru.
- It commenced commercial production of passenger vehicle components in 1986.
- The company grew its precision components manufacturing business organically in India by commencing supplies to the two-wheeler vertical in 1996, for off road vehicles in 2009, and to the light commercial vehicle vertical in 2011.
- In April 2017, it acquired a 100 per cent stake in Sansera Sweden.
- In 2018, the company filed for IPO and received regulatory clearance. But did not get listed.
- The total income of the company increased by 6.74 per cent to Rs 1,572.3 crore for fiscal 2021 from Rs 1,473.1 crore for fiscal 2020.
- The company’s profit for the year increased by 37.49 per cent to Rs 109.8 crore for fiscal 2021 from Rs 79.9 crore for fiscal 2020.
- The company said it 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 in the country.
- ICICI Securities, IIFL Securities and Nomura Financial Advisory and Securities (India) Private Limited have been appointed as merchant bankers to advise the company on the IPO.