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While the auto sector as a whole is facing a whole lot of issues ranging form muted demand in the two wheeler space, a shortage of semiconductors or higher input prices, it is not deterring new companies in associated sectors to launch IPOs amid the rally in stock markets. Sansera Engineering, a Bengaluru-based auto component maker, is all set to make its debut on the bourses, the 41st company to achieve this milestone in 2021.
Here are nine key things you must know abut the IPO before applying for it:
1) Key dates
The IPO opens for subscription on September 14 and will close on September 16.
2) Issue Details
The issue is a complete offer for sale (OFS) of 17.2 million shares by the company’s existing shareholders and promoters.
6) Competitive Strengths
The company has a well-diversified portfolio, skilled and experienced board of directors and management team, long-standing relationships with Indian auto makers and international customers. It has advanced capabilities in design and engineering. Its financial performance is also above industry trends, with industry-leading metrics.
The company looks to focus on operational efficiencies to improve returns. It also has a vision to strengthen global market share and diversify into new products to cater to the electrical vehicles space.
7) Financials
The company derives around 65% of its revenue from India and the rest 35% from other countries.
For FY21, Sansera Engineering reported a revenue of Rs 157.23 crore compared to Rs 147.31 crore year on year. The net profit for fiscal 2021 was at Rs 109.86 crore compared to Rs 79.91 crore in the previous year. The company managed to reduce its net debt from Rs 563.76 crore in FY19 to Rs 484.60 crore in FY21.
8) About the company
Sansera is an engineering-led integrated manufacturer of complex and critical precision engineered components across automotive and non-automative sectors and has a wide market. It is a leading manufacturer of connecting rods, crankshafts, rocker arms and gear shifter forks for two-wheelers, and connecting rods and rocker arms for passenger vehicles. Sansera has had long-standing relationships with two-wheeler and car makers.
Subramonia Sekhar Vasan, Unni Rajagopal Kothenath, Fatheraj Singhvi, and Devappa Devaraj are the promoters, owning a combined 40.6%t stake in the company. The total promoter group shareholding in the company stands at 43.9%. Investors Client Ebene and CVCIGP II Employee Ebene hold 35.4% and 19.8% respectively.
9) Allotment and listing dates
The IPO share allotment is expected to get finalised on September 21, while the funds to unsuccessful investors will be refunded around September 22, 2021. The company may credit shares to eligible investors accounts around September 23 and the shares may get listed on September 24 on the BSE and the NSE.