Sansera Engineering Ltd has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India to launch an IPO. The initial public supplying is completely an provide-for-sale of 1.72 crore equity shares by its current shareholders and promoters. The OFS comprises up to 86.35 lakh shares sale by Client Ebene Ltd, up to 48.36 lakh shares by CVCIGP II Employees EBene, up to 20.58 lakh shares by S Sekhar Vasan, and up to 5.71 lakh shares each and every by Unni Rajagopal K, FR Singhvi and D Devaraj.
The book operating lead managers to the problem are ICICI Securities, IIFL Securities and Nomura Financial Advisory. The registrar to the problem is Link Intime India Private Ltd. The listed market peers of Sansera Engineering are Endurance Technologies, Minda Industries, Sundram Fasteners, Suprajit Engineering, Bharat Forge, Motherson Sumi Systems and Mahindra CIE Automotive. The weighted typical return on net worth for fiscals 2019, 2020 and 2021 is 11.98 per cent. The typical value-to-earning (P/E) ratio is 60x.
The firm will not straight acquire any proceeds from the provide and all the provide proceeds will be received by the Selling Shareholders. This is the company’s second try to go public. In August 2018, Sansera Engineering had filed IPO papers with capital markets regulator and had also received its clearance to float the public problem. However, it did not go ahead with the launch. In India, Bajaj Motors, FIE group and Sansera, are amongst the major two-wheeler rocker arm suppliers in India. Micro Turner, Sansera and Schaeffler India are the major passenger car rocker arm suppliers in India. Sansera is the biggest supplier of rocker arms to two-wheeler as nicely as passenger car OEMs in India.
Sansera Engineering’s enterprise model is nicely diversified by consumer base, finish segment, geographical spread of revenues and solution portfolio. It derives its income from several segments inside the automotive sector, which includes the two-wheeler, passenger car and industrial car verticals. Within the non-automotive sector, it manufactures and supplies a wide variety of precision elements for the aerospace, off-road, agriculture and other segments, which includes engineering and capital goods.