Automotive component manufacturer Sansera Engineering has filed draft red herring prospectus with the capital markets regulator Sebi to raise funds via initial public offering.
The IPO comprises a complete offer for sale of 1,72,44,328 equity shares by existing shareholders. Investors Client Ebene (CEL), and CVCIGP II Employees Ebene (EEL) will sell up to 86,35,408 and 48,36,723 equity shares, respectively, via offer for sale.
Promoter S Sekhar Vasan will sell up to 20,58,069 equity shares, and other promoters Unni Rajagopal K, FR Singhvi, and D Devaraj will also offload up to 5,71,376 equity shares each through offer for sale.
FR Singhvi is acting in trust for the offer for sale of up to 61,221 shares by Lalitha Singhvi, up to 62,031 shares by Praveen Singhvi, up to 62,031 shares by Lata Singhvi, up to 62,031 equity shares by Jayaraj Singhvi, up to 62,031 shares by Tara Singhvi and up to 62,031 shares by Indira Singhvi.
S Sekhar Vasan, FR Singhvi, Unni Rajagopal K and D Devaraj are the promoters of the company, currently holding 2,18,39,200 equity shares (or 40.64 percent of pre-offer paid-up equity).
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 supplies a wide range of precision forged and machined components and assemblies, such as connecting rod, rocker arm, crankshaft, gear shifter fork, stem comp, and aluminium forged parts that are critical for engine, transmission, suspension, braking, chassis and other systems for the two-wheeler, passenger vehicle and commercial vehicle verticals.
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For FY21, it derived 88.45 percent, and 11.55 percent of revenue from sale of products from the automotive sector and non-automotive sectors, respectively. The company earned 64.98 percent of revenue from sale of products from India and 35.02 percent of revenue from sale of products from Europe, USA and other foreign countries combined.
As of April 30, 2021, it had 16 manufacturing facilities, of which 15 are in India and one facility is in Trollhättan, Sweden.
ICICI Securities, IIFL Securities, and Nomura Financial Advisory and Securities (India) are the book running lead managers to the issue.