Sansera Engineering's initial public offering (IPO) has been subscribed 11.5 times so far on Thursday, the third and last day of the bidding process. The issue received bids for 13.88 crore shares against the IPO size of 1.21 crore shares, according to the data available on the exchanges.

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The portion set aside for retail investors has been subscribed 3.10 times and that for employees 1.37 times. Qualified institutional buyers had put in bids for 26.47 times of their portion and non-institutional investors 11.37 times, till 4 25 pm.

The Bengaluru-based auto component maker's IPO, estimated at Rs 1,283 crore, will close for subscription on Thursday, September 16.

The company has set a price band of Rs 734-744 for the issue. Investors can bid for Sansera shares under the IPO in the multiples of 20 shares. At the upper end of the price band, one lot will cost investors Rs 14,880. Retail investors can apply for up to 13 lots (260 shares).

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The issue is a complete offer for sale (OFS) of 1.7 crore equity shares by existing shareholders. Client Ebene will sell 86.4 lakh shares and CVCIGP II Employees EBENE 48.4 lakh shares. S Sekhar Vasan will offload 20.6 lakh shares, and Unni Rajagopal K, FR Singhvi and D Devaraj will each sell 5.7 lakh shares. The company will not receive any proceeds from the issue.

Half of the issue is reserved for qualified institutional buyers (QIBs), 35 percent for retail investors, and 15 percent for non-institutional investors. The company has also reserved shares worth Rs nine crore for employees who will get a discount of Rs 36 to the final issue price.

Read here: Sansera Engineering IPO to open today: Key things to know

Sansera Engineering shares are likely to be listed on BSE and NSE on September 24.

Sansera Engineering is a manufacturer of a range of precision forged and machined components and assemblies for the two-wheeler, passenger vehicle and commercial vehicle segments. It has 16 manufacturing facilities, out of which, 15 are in India and one in Sweden.

First Published:Sept 16, 2021 1:44 PM IST