Sansera Engineering IPO: Check share allotment online, grey market premium, listing date

#IPO - News, #Sansera Engineering, subscribed 11.47 times, BSE website, IPO registrar website

Auto ancillary company Sansera Engineering is expected to finalise the allotment of shares next week after its initial public offering attracted strong subscription. The shares are scheduled to be listed on the exchanges on September 24.

The IPO of the manufacturer of complex and critical precision-engineered components, which was open during September 14-16, was subscribed 11.47 times, largely with support from qualified institutional buyers. IPOs must get at least 90 percent subscription in the QIB segment to sail through.

Investors applied for 138.8 million shares against 12.1 million shares offered. The bids were worth Rs 10,329.62 crore at the upper end of the price band of Rs 734-744 per share.

QIB bids increased significantly on the final day and the portion reserved for them was subscribed 26.47 times. The portion set aside for non-institutional investors was subscribed 11.37 times, while retail investors put in bids for 3.15 times the shares kept for them. The employees’ portion was subscribed 1.37 times. Each segment of the IPO was fully subscribed.

The Rs 1,283 crore issue was a complete offer for sale by promoters and investors. The company will not get any money and all the funds will go to the selling shareholders.

Sansera Engineering will finalise the share allotment on September 21. The status of the applications can be checked on the websites of the BSE and the IPO Registrar.

Investors can check the allotment status on the BSE website:

a) Select Equity in issue type
b) Select Sansera Engineering in issue name
c) Enter Application Number and PAN

d) Check the ‘I’m not a robot’ box and click on Search

Alternatively, the application status can be checked on the IPO registrar website:

a) Select PAN, Application Number or DP Client ID
b) Select Sansera Engineering IPO in dropdown
c) Enter either PAN, Application Number or DP Client ID and click on Search.

Investors who haven’t been allotted shares will get refunds in their bank accounts on September 22. Shares will be credited directly to the demat accounts of successful investors on September 23 and trading in the shares will start on the BSE and NSE on September 24.

The grey market premium of Sansera Engineering shares has fallen to Rs 50 from Rs 70 quoted at the start of the issue, IPO Watch data showed. The trading price of Rs 794 is 6.7 percent higher than the expected final issue price of Rs 744 per share. A week before, the grey market premium was Rs 125.

Incorporated in 1981, Bengaluru-based Sansera Engineering is a supplier of complex and high quality precision components to original equipment manufacturers. It is the largest supplier of connecting rods, rocker arms and gear shifter forks to two-wheeler OEMs and connecting rods and rocker arms to passenger vehicles in India.

The company has 16 manufacturing plants – 15 located in India and one in Sweden. The company’s production lines are modular and fungible and can be deployed across products and segments. The company derived 88.5 percent of its revenue from the automotive sector and 11.6 percent from the non-automotive sector in FY21.

Choice Broking had assigned a ‘subscribe’ rating to the issue and said at Rs 744, the issue was valued in line with the peer average. With strong revenue growth and a healthy EBIDTA margin of over 15 percent, profitability is likely to be boosted in the future, it said.

Sansera’s business witnessed a marked recovery from the impact of Covid-19-led lockdown. The company reported a profit of Rs 109.86 crore in FY21 compared with earnings of Rs 79.9 crore in FY20 and Rs 98.06 crore in FY19. Revenue was Rs 1,549.27 crore in FY21 compared with Rs 1,457.17 crore in FY20 and Rs 1,624.43 crore in FY19.

It reported an EBIDTA margin of 17.6 percent and a net profit margin of 7.1 percent in FY21 compared to the peer average of about 14 percent and 7 percent, respectively.

Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Internet Explorer Channel Network
News Related

OTHER NEWS

Stock Blog: Higher Starts on Wall Street; AEX flirts with 800 points

Wall Street will start higher on Tuesday. Johnson & Johnson is in good shape, while Procter & Gabler has to give up ground. AEX is just below 800 points in ... Read more »

HUL's Q2 volume growth falls short of expectations, disappointing investors

Hindustan Unilever Ltd’s (HUL) September quarter results (Q2FY22) weren’t encouraging for investors, which is evident from the more than 3 percent drop in its share price on the National Stock ... Read more »

Alembic Pharma Q2 PAT may dip 49.2% YoY to Rs 169.4 cr: ICICI Direct

India business helped by COVID-19 and lower base of last year rose 57 percent to Rs 481 crore. ICICI Direct has come out with its second quarter (July-September’ 21) earnings ... Read more »

Axis AMC, Inversion to raise Rs 3,500 crore buyout fund to invest in underperforming companies

Representative image Axis Asset Management Company and Inversion Advisory Services on October 19 announced a partnership to invest in underperforming companies. The two entities plan to jointly raise up to Rs ... Read more »

Nestle India Q3 Results | Profit rises to Rs 617 crore, revenue grows to Rs 3,883 crore on broad based domestic sales growth

Nestle has reached out to consumers through its advertisements in newspapers and asked them to reach out directly and raise their concerns about its products. FMCG giant Nestle India Limited, ... Read more »

Reliance Retail acquires 52% stake in Ritu Kumar brand

Ritu Kumar (Image: Company website) Reliance Retail Ventures on October 19 announced that it has acquired a 52 percent equity stake in Ritika Pvt Ltd that owns Ritu Kumar, Label Ritu ... Read more »

Coal, railway, power ministers discuss coal supply situation at power plants

Coal minister Pralhad Joshi on Tuesday discussed ways to improve coal stocks at thermal power plants with railway minister Ashwini Vaishnaw and power minister R K Singh. The meeting comes ... Read more »

Rural growth moderated in second quarter: HUL CMD Sanjiv Mehta

REUTERS/Danish Siddiqui Consumer demand in rural India, which was resilient since the onset of the pandemic, is now plateauing as the second wave of the pandemic wanes, Sanjiv Mehta, chairman ... Read more »

Here's why Democrats' proposed elimination of Roth conversions for the wealthy doesn't start until 2032

Photo by Mike Kline (notkalvin) | Moment | Getty Images House Democrats proposed a rule to forbid Roth conversions for the wealthy as part of a broad package of tax ... Read more »

Armenia, Russia agreed on gas price — Deputy PM

Gazprom is the sole gas supplier to Armenia Read more »

ACC Q3 Result | Profit rises to Rs 449 crore, revenue grows to Rs 3748.9 crore

acc ltd ACC, one of the top cement manufacturers in India and a subsidiary of Holcim Group, reported a consolidated profit after tax of Rs 449 crore for the quarter ... Read more »

PM's charm offensive yet to convince investors to part with their trillions

As the government bids to win over the richest international investors to its green agenda, Paul Kelso finds scepticism that the government means business despite a big energy partnership with Bill Gates. Read more »

Beer prices could jump by 30p per pint as pubs struggle with staff, energy and supply shortages

There are concerns that £6 a pint could become commonplace in pubs in London and the South East. Read more »

IMF cuts Asia's growth forecast, warns of supply chain risks

The International Monetary Fund on Tuesday slashed this year’s economic growth forecast for Asia and warned that a fresh wave of COVID-19 infections, supply chain disruptions and inflation pressures pose ... Read more »

Chennai Super Kings' win in IPL 14 to dial up Dhoni's brand value

MS Dhoni has invested in companies including Khatabook, Cars24, and RunAdam Sports. (Image: IPL/BCCI/Twitter) Cricketer MS Dhoni leading his team Chennai Super Kings (CSK) to fourth win in the Indian Premier ... Read more »

Travel and tourism industry resumes hiring, momentum to pick up from Q4

The travel and tourism sector, one of the worst affected by the pandemic-induced lockdown and resultant job losses, is seeing a revival in hiring. Following the lifting of travel restrictions, ... Read more »

HeidelbergCement India Q2 profit down 4.55% to Rs 59.56 crore

HeidelbergCement India Ltd on Tuesday reported a 4.55 per cent decline in its net profit to Rs 59.56 crore for the second quarter ended September 2021 on account of increased ... Read more »

Russian media watchdog expects removal of prohibited information from Twitter — official

"Sanctions applied against them led to their removal of more than 90% of prohibited information and just a little is left to achieve complete purity," head of the regulator Andrei Lipov said Read more »

Cabinet approves B92 bn more support measures

A sign announces that a shop is participating in the Kon La Krueng (Half-Half) co-payment scheme at the Chatuchak weekend market in Bangkok. (Photo: Pornprom Satrabhaya) The cabinet on Tuesday ... Read more »

ACC profit rises to Rs 449 crore, revenue grows to Rs 3748.9 crore in September quarter

acc ltd ACC, one of the top cement manufacturers in India and a subsidiary of Holcim Group, reported a consolidated profit after tax of Rs 449 crore for the quarter ... Read more »

Technical View: Nifty forms Bearish Engulfing pattern, experts say avoid buying the dip

The Nifty started off the day above 18,600 but failed to sustain the momentum due to selling pressure in FMCG, metals, pharma and some banking & financial stocks. The index ... Read more »

DCM Shriram Q2 profit up 33.2%; says business environment remains disruptive

DCM Shriram on Tuesday posted a 33.2 per cent increase in consolidated net profit to Rs 159 crore for the second quarter of 2021-22 on strong sales. The company’s net ... Read more »

WGC predicts strong demand for gold in India in 2022 provided there are no fresh Covid outbreaks

The World Gold Council (WGC) has said that though demand for gold may be more subdued than expected this year following India’s prolonged battle with COVID-19, in 2022 economic growth ... Read more »

Network 18 Media Q2 Result | Consolidated revenue rises 31% to Rs 1,387 crore

Representative image Network 18 Media & Investments on October 19 posted consolidated revenue of Rs 1,387.2 crore for the quarter ended September 30, 2021, against Rs 1,061 crore logged in ... Read more »

Demand slump and output rise hit cardamom price, hurt growers

Tepid domestic demand and a slowdown in exports owing to Saudi Arabian concerns over pesticide presence in Indian shipments have hurt trading in cardamom at a time when India is ... Read more »

Austrian, Russian ministers plan intergovernmental commission in Vienna for October 21

On the whole, it is planned to sign three agreements Read more »

Axis Bank to waive 12 EMIs on select home loans under festive offer

Axis Bank (Representative image) Private sector lender Axis Bank on Tuesday announced waiver of 12 EMIs on select home loan products, and discounts on various online purchases as part of ... Read more »

Upcoming office supply likely to keep vacancies high, rents under pressure: Edelweiss Research

Office rentals remained stable across the major markets in India in Q2 2021. Progress on vaccination rollout and resumption of employees’ return to offices bode well for office demand but ... Read more »

Simply Save | Why it is important to make international investments across emerging and developed markets?

Investing in international funds has got much wider acceptance among mutual fund (MF) investors. AMFI data shows the number of mutual fund folios in fund of funds (FoFs) investing in ... Read more »

Nestle India Q2 Results | Profit rises to Rs 617 crore, revenue grows to Rs 3,883 crore

Nestle has reached out to consumers through its advertisements in newspapers and asked them to reach out directly and raise their concerns about its products. FMCG giant Nestle India reported profit ... Read more »

Evergrande: concerns linger even as embattled developer's Hengda unit makes interest payment on US$327 million onshore bond

China Evergrande Group made its first interest payment on its corporate bonds in nearly a month on Tuesday as questions continue to swirl about its ability to service its massive ... Read more »

Evercore ISI downgrades Marriott to in-line, says stock has little upside left after recent rally

This photo shows a woman walking past Marriott signage in Hangzhou in China's Zhejiang province.- | AFP | Getty Images The hotel industry appears to be rebounding faster than many ... Read more »

Gainers & Losers: 10 stocks that moved the most on October 19

The Indian market snapped its seven-day winning run to end lower on October 19. At close, the Sensex was down 49.54 points, or 0.08%, at 61,716.05, and the Nifty was ... Read more »

Taking Stock: Market slips from record high; realty, metal, FMCG take a hit

On a day of volatile trade, benchmark indices hit record highs in the opening hours on October 19 only to slip on profit-booking to close in the red, snapping a ... Read more »

Russia plans to invest $1 bln in the Armenian economy in the near future

In particular, the investments will contribute to the creation of new high-tech jobs and facilitate exchange in various areas of the economy, culture, and infrastructure development Read more »

Singapore is No. 2 in the world for attracting and developing talent: Insead

Singapore made it to top three in four of the six criteria, which encompass enabling, attracting, growing and retaining talent, vocational and technical skills, and global knowledge skills. SINGAPORE – ... Read more »

Russia's Internet audience reaches 124 mln people in 2021, says federal service

There are over 3,000 Internet providers, with more than 6,500 telecom operators working in this industry Read more »

Ian King Business Podcast: Green investment, the music industry, and Virgin Media's merger with O2

Listen to “Green investment, the music industry and Virgin Media's merger with O2”. The government announces new grants to encourage a switch from gas boilers to cleaner heat pumps, just ... Read more »

Silver hovers on Rs 64,000 riding on metals rally, weak dollar index

Silver Silver prices climbed above Rs 64,000 per kg on October 19, tracking a positive trend in gold and industrial metals, ETF inflows and a softening dollar index. The precious ... Read more »

Volvo Car launches S90, XC60 with petrol mild-hybrid powertrains

(Image: Reuters) Volvo Car India on Tuesday launched two models — S90 and XC 60 — with petrol-mild hybrid powertrains as part of its plans to shift to the petrol-only ... Read more »