URL copied to clipboard

Trending News

Sansera Engineering Announces Rs 1,200-Crore QIP Floor Price – Discover More!

Sansera Engineering set a Rs 1,200-crore QIP floor price at Rs 1,635.48 per share, a 3% premium over its last NSE closing, showing positive market expectations.
Sansera Engineering Announces Rs 1,200-Crore QIP Floor Price - Discover More!

Sansera Engineering has set the floor price for its Rs 1,200-crore qualified institutional placement (QIP) at Rs 1,635.48 per share. This pricing represents a 3% premium over the closing price of Rs 1,587.80 on the NSE, reflecting a positive market expectation for the offering.

Alice Blue Image

The company announced that it might offer a discount of up to 5% on the floor price for the QIP, as detailed in the recent exchange filing. This strategic pricing flexibility aims to attract more institutional investors to participate in the issuance.

Also Read : TCS Q2 Results: Net Profit Declines 1% Sequentially but Grows 5% YoY– Details Here!

Approved by the board on August 20, the fundraising may occur in one or more tranches. Sansera plans to issue equity shares or other securities convertible into equity, which could include instruments linked directly to the company’s stock.

Specialising in precision engineering, Sansera manufactures critical components for automotive and non-automotive sectors, including aerospace and agriculture. The company is known for producing high-quality connecting rods for commercial vehicles, enhancing its market presence in diverse industries.

Also Read – Q2 Results: G M Breweries Reports Net Profit of Rs 21.67 Crore – Details Here!

Nomura and ICICI Securities Ltd. are managing the QIP as book running lead managers, overseeing the process and ensuring compliance with financial regulations. This partnership underscores Sansera’s commitment to executing the QIP with expert financial guidance.

Post-IPO, the shares allocated will be locked in for a year, only tradable on stock exchanges, ensuring stability in the post-issue market period. Despite a 1.97% drop in share price at the last close, the stock has climbed 72.92% over the past year, with analysts maintaining a strong buy recommendation.

Loading
Submit the form, and get to know how you scored!!!
Read More News