Sansera Engineering has filed a draft red herring prospectus with capital markets regulator Sebi for its initial public offering (IPO). The initial public offering of the manufacturer of automotive components will consist of a sale offer of 1,724,4328 shares by existing promoters and shareholders, namely Client Ebene, CVCIGP II Ebene employees and promoters – S Sekhar Vasan, Unni Rajagopal K, FR Singhvi and D Devaraj, according to the draft red herring prospectus filed with Sebi.
This is the company’s second attempt to tap the markets. Sansera Engineering had applied to Sebi in August 2018 and received its authorization, but did not proceed with the launch.
Sansera Engineering, headquartered in Bengaluru, manufactures complex and critical precision components for two-wheelers, passenger vehicles and commercial vehicles. It has manufacturing facilities in Karnataka, Haryana, Maharashtra, Uttarakhand and Gujarat.
ICICI Securities, IIFL Securities and Nomura Financial Advisory are principally responsible for the public offering of Sansera Engineering.
Meanwhile, the country’s largest auto component maker, Sona Comstar, will go public next week.