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Sandhar Technologies to Make IPO Debut Today

Sandhar Technologies' Rs 512-crore IPO was open during March 19-21 and was subscribed 6.2 times. The public offer had a fresh issue of shares worth Rs 300 crore and an offer for sale of up to 64 lakh shares.

PTI

Updated:April 2, 2018, 9:48 AM IST
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Sandhar Technologies to Make IPO Debut Today
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New Delhi: Auto component maker Sandhar Technologies, which recently concluded its initial public offer (IPO), will make its stock market debut on Monday.

The company's Rs 512-crore IPO was open during March 19-21 and was subscribed 6.2 times. The public offer had a fresh issue of shares worth Rs 300 crore and an offer for sale of up to 64 lakh shares, which included anchor portion of 46,30,842 shares. The price band was fixed at Rs 327-332.

ICICI Securities and Axis Capital were the book running lead managers to the offer.The scrip will be listed on BSE and the National Stock Exchange.

The markets were closed on Thursday and Friday for public holidays. Trading will resume on Monday. The broader NSE Nifty fell 0.69 percent to 10,113.70 on Wednesday, while the benchmark BSE Sensex lost 0.62 percent to 32,968.68.

The benchmark 10-year bond yield rose about 7 basis points to 7.40 percent, while the rupee weakened to 65.17 from its 64.98 close.

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