New Delhi, Sep 15 (PTI) The initial public offer of auto component maker Sansera Engineering was fully subscribed on the second day of subscription on Wednesday.

The Rs 1,283-crore IPO received bids for 1,23,26,760 shares against 1,21,09,166 shares on offer, translating into 1.02 times subscription, as per NSE data.

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The Qualified Institutional Buyers(QIBs) category was subscribed 38 per cent, non-institutional investors 22 per cent and Retail Individual Investors(RIIs) 1.72 times.

The initial public offer is of 1,72,44,328 equity shares.

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The price range for the offer is at Rs 734-744 per share.

Sansera Engineering Ltd has mopped up Rs 382 crore from anchor investors.

The company expects that listing of the equity shares will enhance its visibility and brand image and provide liquidity to shareholders. Also, the listing will provide a public market for the equity shares.

This is the company's second attempt to go public. Earlier, Sansera Engineering had filed IPO papers with Sebi in August 2018 and had also received its clearance to float the public issue.

However, it did not go ahead with the launch.

The Bengaluru-based firm is an engineering-led integrated manufacturer of complex and critical precision-engineered components across automotive and non-automotive sectors.

Within the automotive sector, the company manufactures a wide range of precision forged and machined components and assemblies that are critical for engine, transmission, braking, and other systems for the two-wheeler, passenger vehicle and commercial vehicle verticals.

In the non-automotive sector, Sansera Engineering manufactures precision components for the aerospace, off-road, agriculture and other segments, including engineering and capital goods. ICICI Securities, IIFL Securities, and Nomura Financial Advisory and Securities (India) are the managers to the offer.

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