Sansera Engineering IPO: Issue subscribed 53% on first day, check premium trending in gray market


New Delhi. Auto components maker Sansera Engineering’s IPO was subscribed 53 percent on the very first day. This IPO of Rs 1,283 crore will be open till 16 September. The company has fixed a price band of Rs 744 for its shares. However, the shares of the company were trading at Rs 779 with a premium of Rs 35 in the gray market. This is 5% more than the fixed amount for the IPO. A day before the opening of the IPO, Sansera Engineering issued 15.18 lakh equity shares to 27 anchor investors at a price of Rs 744 and raised Rs 382.05 crore.

The allotment of shares of the company can be done on September 21. Its listing can be done on NSE and BSE on 24 September. One lot of Sansera Engineering is of 20 shares. Retail investors will have to invest at least Rs 14880 in it. For the IPO, the promoters of the company and the existing investors are selling some of their stake. After the listing of the company, the promoters’ stake in the company will come down from 43.91% to 36.56%.

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Is it ok to invest in this IPO?
Sansera Engineering has total 16 plants. Of these, 15 are in India and one in Sweden. The company manufactures complex and critical precision engineering components in the automotive and non-automotive sectors. In the automotive segment, the company manufactures things like connecting rods, rocker arms for 2W, PV and CV verticals. Most of the company’s revenue comes from making components related to the internal combustion engine of the car.

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What do experts say?
Market experts say that more electric vehicles will be made in the coming days. The engines used in these vehicles will be replaced by electric motors and components. According to Financial Express, COO Aditya Kondavar, Founder, JST Investments said, “Although the company says that this is the most important part of its business model, it remains to be seen how the company adopts it. This is a perfect example of major disruption happening on a very large scale in a company.”
JM Financial says that the business model of Sansera Engineering is diversified. Its results are also better than the industry trends. Also, it is the industry leader on many parameters. According to the brokerage firm, there is also some risk for the company.

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