You are here: Home » Markets » News
Business Standard

Sansera Engineering lists at 9% premium over issue price of Rs 744

Post listing, the stock moved higher to Rs 828, up 11 per cent over its issue price on the BSE

Topics
Sansera Engineering | Buzzing stocks | Markets

SI Reporter  |  Mumbai 

market, markets, stock market, stock, stocks rise, stock rally

Auto component maker 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, 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 of its equity shares will enhance its visibility and brand image and provide liquidity to shareholders. Also, the 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, 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.

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, September 24 2021. 10:15 IST
RECOMMENDED FOR YOU
.