Sansera Engineering IPO subscribed 11.5x
Sansera Engineering’s initial public offering (IPO) garnered 11.5x subscription and generated bids worth more than ~10,000 crore. The institutional investor portion was subscribed 26.5x, high networth individual portion was subscribed 11.4x, and retail portion saw over 3x subscription. The priced band for the IPO was ~734-744 apiece. The IPO was entirely an offer for sale worth ~1,283 crore. At the top end of the price band, the company’s market cap translates to ~3,823 crore. “At ~744, FY21 P/E of 35 times appears reasonable, given the expected improvement in earnings CAGR over FY21-23,” Angelone had said in a note advising its clients to subscribe to the IPO.