Sandhar Technologies floats IPO on 19 March

INDORE, India - March 13, 2018 - PRLog -- Sandhar Technologies Limited, which is engaged in the business of designing and manufacturing diverse range of automotive components, on Monday, announced the launching of its initial public offering (IPO) on 19 March and the offer ends on 21 March. The price band was fixed as Rs. 327 - Rs. 332 per share for the IPO.

The IPO consists of a fresh issue of equity shares of Rs.300 crore and an OFS of 80.00 lakh scrips by GTI Capital Beta, as per the DRHP filed with Sebi earlier.

GTI Capital, which presently holds 8.93 million shares (17.47%), is selling 6.4 million shares in the public offer.

The company today got the approval from the market regulator Sebi. In Dec 2017, the Company had filed DRHP with Sebi to raise Rs 300 crore through the IPO.
As per the sources, the company has been evaluated at about Rs 2000 crore.

Axis Capital and ICICI Securities will manage the company's IPO. The shares will be listed on NSE and BSE.

Sandhar Technologies Limited intends to use a portion of the net proceeds towards repayment of some loan facilities as well as for other general corporate requirements.

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