Auto component manufacturer Sandhar Technologies Limited has opened its initial public offer (IPO), which is eyeing to raise Rs 513 crore.
Know Sandhar Technologies IPO details:
- The price band for the issue has been fixed at Rs 327-332 per equity share
- The face value of the shares is Rs 10 each. The minimum lot size consists of 45 shares
- Sandhar Technologies' IPO comprises the fresh issue of equity shares worth Rs 300 crore and an offer for sale of up to 64 lakh shares
- The IPO size amounts to Rs 509.28 crore. The company will dilute 15 percent of its post-offer paid-up equity share capital in the issue
- The book-running managers of the IPO are ICICI Securities Limited and Axis Capital Limited
- Gurgaon-based firm's IPO will remain open for subscription from March 19 to March 21, 2018
- The company proposes to list on both BSE and NSE and net proceeds from the fresh issue will be utilized towards repayment or prepayment of loans availed by the company. Remaining proceeds will be used for the general corporate purpose
- Sandhar Technologies will not receive any proceeds from the Offer For Sale as all the proceeds will go to the selling shareholders
- On Friday Sandhar Technologies has garnered Rs 153.74 crore from anchor investors ahead of the issue
- ICICI Prudential Indo Asia Equity Fund, SBI Equity Savings Fund, Theleme Master Fund and Aurigin Master Fund, DSP BlackRock Small Cap Fund, IDFC Tax Advantage (ELSS) Fund, are among the anchor investors
Sandhar Technologies is a diversified auto component manufacturer of products including lock assemblies, rear view mirrors, wheel assemblies, cabins and sheet metal components. The company has product categories and manufacturing facilities in India, Spain, and Mexico.
