Sansera Engineering’s stock has risen sharply since its first public offering.
Sansera Engineering shares on the stock market were listed at Rs. 811. This happened on the NSE, where the amount rose from its IPO price of Rs. 744. Afterwards, the price per share surged to nearly Rs. 830 per share within minutes after the company opened for trade.
Sansera Engineering is an automaker, who recently conducted a three-day sale between September 14th to 16th. The company received nearly 11.47 times the number of subscriptions by their closing day.
Sansera Engineering and the IPO
The IPO from Sansera Engineering received nearly 13,88,39,000 bids for shares. This was against the much lower number of 1,21,09,166 shares that the company had on offer. QIBs, also known as qualified international buyers, subscribed nearly 26.47 times. There were investors who were not from institutes as well, investing nearly 11.37 times. Finally, investors from individual retail businesses invested 3.15 times.
The company was able to secure nearly Rs. 382 crore from these investors.
What is Sansera Engineering?
Sansera Engineering is a Bengaluru-based company that manufactures critical and precision-based instruments. These instruments are then used both in automotive as well as non-automotive sectors. In the automotive sector, its precision-based instruments are for two-wheelers, as well as larger passenger vehicles.
When it comes to the non-automotive sector, the company manufactures precision-based instruments needed in various industries. These include, but aren’t limited to, the aerospace industry, agriculture, engineering, capital goods, and more. Sansera Engineering has manufacturing turning facilities in different states, including both Karnataka and Gujarat