Sansera Engineering IPO fully subscribed, issue closes on Thursday

Issue priced at Rs 734-744 a share, is entirely an offer for sale worth Rs 1,283 crore

Sansera Engineering’s initial public offering (IPO) was subscribed more than 100 per cent on Wednesday. The IPO closes on Thursday. Sansera has priced its issue between Rs 734 and Rs 744 per share. Sansera’s IPO is entirely an offer for sale worth Rs 1,283 crore. At the top-end of the price band, the company’s market cap translates to Rs 3,823 crore. “At Rs 744, FY21 P/E of 35 times appears reasonable given the expected improvement in earnings CAGR over FY21-23 and hence we recommend subscribe,” AngelOne said in a note.