Sandhar Technologies details and application process

The IPO of Sandhar Technologies opens on 19 March and closes on 21 March. The company os offering shared in the price band of Rs 327-332. At the upper end of the price band the company hopes to raise Rs 512 crores.

About the company
The company began as a Sheet Metal product supplier to Hero Honda and over a period of times has diversified into other products such as Automotive Mirrors, Handles, Zinc & aluminium PDC, Plastic Injection moulding, Dies & Moulds, Wheel Rims, Handle Bars, Clutches, Operator Cabins and Automotive Electronics.

The company has 31 manufacturing in India, 2 facilities in Spain & 1 in Mexico. It is also working towards commissioning another 5 plants in India. it clientele includes 79 OEMs globally including Hero, Ashok Leyland, Honda Cars, TAFE, Tata Motors and TVS.
Draft Red Herring Prospectus

Purpose of the issue
The company will largely use the proceeds of the IPO to repay it’s debt and for other general purposes.

Issue details
The issue consists of a fresh issue of 9 million shares and an OFS of 6.4 million shares. At the upper end of the price band the company hopes to raise Rs 512 crores. Post the issue the shareholdings of the promoters will drop to 70.1% from 82.5%.

IPO schedule
Issue opens - March 19th
Issue close - March 21th
Issue size - ₹ 512 crores at the upper end of the price band.
Listing on both NSE and BSE
Retail portion - 35%
Bid lot - 12 shares

Basis of allotment - 26 March
Refunds - 27 March
Credit of shares - 28 March
Listing 02 April

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