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Sansera Engineering IPO: Listing will happen in the stock market September 24, know how much the share price can be

Sansera Engineering IPO:- The IPO of Sansera Engineering was open for bidding from September 14 to 16 The IPO of auto ancillary company Sansera Engineering will be listed in the stock market on Friday, 24 September. Given the current challenges in the auto industry and lower-than-expected subscriptions, experts expect the stock to be listed at a lower premium.

The Rs 1,283 crore IPO of Sansera Engineering was open for bidding between September 14 and 16. The company’s IPO has been subscribed 11.47 times. Qualified Institution buyers bid 26.47 times of the reserved shares for their share. On the other hand, non-institution investors subscribed 11.37 times of the shares reserved for their share.

While retail investors subscribed 3.15 times more. “We expect the stock to be listed at a premium of 5-7 per cent,” said Prashant Taapsee, VP Research, Mehta Equities. Taapsee said the company’s gray market premium has also declined due to short-term challenges in the auto sector and concerns about lower promoter stake.

After the listing of the IPO, the promoter stake of the company will come down from 43.91 per cent to 36.5%. At the same time, the public shareholding will increase from 56% to 63.4%.

The company’s shares are trading at a premium of around Rs 40 in the gray market, said Head of Research, Capitalvia Global Research. The upper limit of the company’s IPO price band is Rs 744 per share. Thus, the company’s shares are around 784 (744). +40) may be listed at Rs., which is about 5.5 per cent higher than the IPO price.”

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