 "Sansera Engineering lists at 9% premium over issue price of Rs 744")
Auto component maker Sansera Engineering made a decent stock market debut as its shares got listed at Rs 811.50, a premium of 9 per cent over its issue price of Rs 744 per share on the National Stock Exchange (NSE) on Friday. On the BSE, the stock opened at Rs 811.35, the exchange data shows. It moved higher to Rs 828, up 11 per cent on the BSE.
At 10:01 am, Sansera Engineering traded at Rs 825.75, up 2 per cent against its opening level on the BSE. Around 3.3 million equity shares changed hands on the counter on the NSE and BSE combined. In comparison, the S&P BSE Sensex was up 0.36 per cent at 60,098 points at the same time.
The company expects that the listing of its 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.
The company is an engineering-led integrated manufacturer of complex and critical precision engineered components across automotive and non-automotive sectors.
Within the automotive sector, the company manufactures and supplies a wide range of precision forged and machined components and assemblies that are critical for engine, transmission, braking, and other systems for the two-wheeler, passenger vehicle, and commercial vehicle verticals. In the non-automotive sector, Sansera Engineering manufactures and supplies precision components for the aerospace, off-road, agriculture and other segments, including engineering and capital goods.
The Rs 1,283-crore initial public offer of Sansera Engineering had received a healthy response as the issue got subscribed 11.5 times. The institutional investor category was subscribed 26.47 times, while the non-institutional category comprising high net worth individuals was subscribed 11.37 times. Demand from retail investors, whose investments cannot exceed Rs 2 lakh in an IPO, stood at 3.15 times, exchange data showed.
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