Sansera Engineering shares were at Rs 811.50 on the National Stock Exchange (NSE) Friday, at a premium of 9.07 percent or Rs 67.50 to its issue price.

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The shares were listed at Rs 811.35 on the Bombay Stock Exchange (BSE), at a premium of 9.05 percent or Rs 67.35.

The company has set the issue price at Rs 744, the upper end of the price range of Rs 734-744. The Rs 1,200 crore IPO was subscribed 11.47 times. It received bids for 13.88 crore shares against 1.21 crore shares on the offer.

Sansera Engineering is a Bangalore-based company that manufacturers a range of precision forged and machined components and assemblies for the two-wheeler, passenger vehicle, and commercial vehicle verticals.

It is the largest supplier of connecting rods, rocker arms, and gear shifter forks to two-wheeler OEMs in India. The company has 16 manufacturing facilities -- 15 in India and 1 in Sweden.

Retail investors subscribed 3.15 times to the IPO, and non-institutional subscribers put in bids for 11.37 times their reserved portion. Qualified institutional buyers subscribed 26.47 times their reserved portion. Its employee portion was subscribed by 1.37 times.

The issue was purely an offer for sale and the company will not receive any proceeds from the issue. It aims to achieve benefits of listing equity share on stock exchanges.

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First Published:Sept 24, 2021 9:58 AM IST