Sansera Engineering IPO debuts with a little of 9% premium ⁠— short of what the grey market had indicated

Shares of Sansera Engineering listed at 9% premium over the issue price band of ₹734-744 apiece.

The shares of the Bengaluru-based auto component manufacturer were trading at ₹811.50. However, the grey market had indicated a premium of ₹13-15 on its issue price on the issue price.

The IPO was open for subscription between September 14 and September 16. The IPO has received a good response from investors, especially from qualified institutional buyers and non-institutional investors as investors have bid for 13.88 crore shares against the 1.21 crore shares on offer.

The auto component maker is a technology driven company with a strong focus on design, engineering, machine building and automation capabilities.

Sansera Engineering was looking to raise between ₹1,282 crore from a complete offer for sale of 1.72 crore shares in the IPO.

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