Sansera Engineering IPO gets subscribed 0.53 times at end of Day-1

11th December 2022 - 12:46 am

The Rs.1,282.98 crore IPO of Sansera Engineering, consisting entirely of an offer for sale or OFS, has been partially subscribed on Day-1. As per the combined bid details put out by the BSE, Sansera Engineering IPO was subscribed 0.53X overall, with bulk of the demand coming from the retail segment followed by QIB segment.

As of close of 14 September, out of the 121.09 lakh shares on offer in the IPO, Sansera Engineering saw bids for 64.19 lakh shares. This implies an overall subscription of 0.53X. The granular break-up of subscriptions were tilted in favour of retail investors but QIB bids did make a start and the HNI bids typically come in on the last day of the issue.

Sansera Engineering IPO Subscription Day-1

Category	Subscription Status
Qualified Institutional Buyers (QIB)	0.29 Times
Non Institutional Investors (NII)	0.07 Times
Retail Individuals	0.87 Times
Employees	0.36 Times
Overall	0.53 times

QIB Portion

The QIB subscription was subscribed 0.29 times at the end of Day-1. On 13 September, Sansera Engineering did an anchor placement of Rs.382.05 crore to QIB investors including a number of marquee names like Government of Singapore, Monetary Authority of Singapore, Nomura, Abu Dhabi Investment Authority, Axis MF, ICICI Prudential MF, SBI Life, Max India Life, Kuber India Fund etc. The QIB portion (net of anchor allocation) has a quota of 34.23 lakh shares of which it has got bids for 10.08 lakh shares, implying a subscription ratio of 0.29X for QIBs at the end of Day-1. QIB bids typically get bunched on the last day.

HNI Portion

The HNI portion got subscribed just 0.07X (getting applications for 1.77 lakh shares against the quota of 25.68 lakh shares). Bulk of the funded applications and corporate applications, come in on the last day, so we have to wait for a clearer picture.

Retail Individuals

The retail portion is subscribed 0.87X at the end of Day-1, showing strong retail appetite. For retail investors; out of the 59.91 lakh shares on offer, valid bids were received for 51.88 lakh shares, of which bids for 39.68 lakh shares were at the cut-off price. The IPO is priced in the band of (Rs.734-Rs744) and will close for subscription on 16th September.