Sansera Engineering Files Papers With Sebi To Raise Funds through initial public offering (IPO)

Sansera Engineering has filed draft red herring prospectus with the capital markets regulator Sebi for its initial public offering (IPO). The automotive component manufacturer’s IPO will be an offer for sale of 1,72,44,328 shares by the promoters and existing shareholders, i.e. Client Ebene, CVCIGP II Employees Ebene and promoters – S Sekhar Vasan, Unni Rajagopal K, F R Singhvi and D Devaraj, as per the draft red herring prospectus filed with Sebi.

This is the company’s second attempt to tap the markets. Sansera Engineering had applied to Sebi in August 2018 and received its clearance, but did not go ahead with the launch.

The Bengaluru-headquartered Sansera Engineering manufactures complex and critical precision engineered components for two-wheeler, passenger vehicle and commercial vehicle verticals. It has manufacturing facilities across Karnataka, Haryana, Maharashtra, Uttarakhand and Gujarat.

ICICI Securities, IIFL Securities and Nomura Financial Advisory are the book running lead managers to Sansera Engineering’s public issue.

Meanwhile, the country’s largest auto component maker Sona Comstar will launch its IPO next week.