Sansera Engineering Ltd, an engineering-led unified manufacturer of complex and critical accuracy engineered components for automotive which is based out of Bengaluru, has filed the prefatory papers with the capital market regulator, SEBI in order to increase funds through primary share-sale. The initial public offer (IPO) is a complete offer for sale (OFS) of 1,72,44,328 equity shares by promoters and existing shareholders showed the draft red herring prospectus (DRHP) which was filed with SEBI. It is known that this is the company’s secondary endeavor to go public as in August of 2018, Sansera Engineering had filed IPO papers with SEBI and was given the go-ahead to float the public issue but it did not continue with the launch as planned.
Existing investors Client Ebene, CVCIGP II Employees Ebene and promoters, S Sekhar Vasan, Unni Rajagopal K, F R Singhvi, and D Devaraj are offering the shares in the offer for sale. The company has mentioned that it is suspecting that the listing of the equity shares will increase the visibility and the brand image of the company which will, in turn, provide shareholders with liquidity in addition to rendering a public market for the equity shares in the country.
Companies such as ICICI Securities, IIFL Securities, and Nomura Financial Advisory and Securities (India) Private Limited have been designated as merchant bankers to advise and guide the company on matters regarding the IPO.