 "automobile")
Shares of Sansera Engineering hit a 52-week high of Rs 914.55 as they rallied 9 per cent on the National Stock Exchange (NSE) in Thursday's intra-day trade after 14 per cent of the total equity of the auto ancilliary company changed hands.
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Around 7.45 million shares, representing 14.08 per cent of the total equity of Sansera Engineering, changed hands on the NSE via block deals on Thursday, exchange data shows. The deal size is around Rs 622.35 crore. The names of the buyers and sellers, however, were not ascertained immediately.As per reports, private equity (PE) funds invested in Sansera Engineering i.e. Ebene Ltd and CVCIGP li Employees Ebene may have sold 14.1 per cent in the company via block deal mechanism on stock exchanges.
As on March 31, 2023, the aforesaid PE funds held 28 per cent stake in sansera Engineering. Post this transaction, their stake shall decline to 14 per cent which might come for selling at some later point in time.
Given the healthy order wins and intent to diversify its revenue base with target to grow at 20 per cent sales CAGR with 20 per cent margins and similar return ratios, the brokerage firm ICICI Securities has a positive view on the company.
Sansera 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 supply a wide range of precision forged and machined components and assemblies, such as connecting rod, rocker arm, crankshaft, gear shifter fork, stem comp, and aluminum forged parts, which are critical for engine, transmission, suspension, braking, chassis and other systems for the 2-wheeler, passenger vehicle and commercial vehicle verticals.
Within the non-automotive sector, the Company manufactures and supplies a wide range of precision components for the aerospace, off-road, agriculture and other segments, including engineering and capital goods.
