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Hot Pursuit
11-Oct-24
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Sansera Engg gains on launching QIP; floor price at Rs 1,635.48/share
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Sansera Engineering added 1.48% to Rs 1,610.20 after the company’s board has approved the opening of qualified institutional placement (QIP) of equity shares with the floor price of Rs 1,635.48 per share.
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The floor price of Rs 1,635.48 is at a premium of 3.07% to the previous day's closing price of Rs 1,586.70 on the BSE.
The company stated that it may offer a discount of not more than 5% on the floor price so calculated for the issue.
Sansera Engineering is primarily engaged in the machining of precision engine forged components for the automotive (2Ws and 4Ws) and non-automotive sectors (aerospace, agriculture). The company also manufactures connecting rods for medium and heavy commercial vehicles.
The company's consolidated net profit rose 10.9% to Rs 49.58 crore on a 12.7% increase in net sales to Rs 743.93 crore in Q1 FY25 over Q1 FY24.
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