Rohatyn-backed Sansera files for India IPO

The offering consists entirely of existing shares from TRG and other investors, with TRG set to sell up to 13 million of the 17 million shares on offer. Pricing for the shares has not been announced. In its prospectus, the company said the listing is intended to provide liquidity for shareholders and enhance its brand name and visibility.

Sansera manufactures complex and high-quality precision components for original equipment manufacturers (OEMs) in India and internationally. Its automotive products include critical components for engine and transmission systems in two-wheelers, passenger vehicles and commercial vehicles. It also supplies clients in the aerospace sector such as Boeing and UTC Aerospace Systems, as well as manufacturers of off-road vehicles, tractors, generators and other non-automotive applications.

As of May 2018, Sansera had over 150 personnel working on design and engineering, machine building, and automation functions. The company believes that its expertise in these areas makes it well-positioned to capitalize on expected growth in the automotive components industry as the Indian two-wheeler and passenger car markets grow over the next five years by 10 million and two million units, respectively.

For the year ended March 2018 Sansera reported revenue of INR11.8 billion ($169 million), up from INR10.5 billion the year before. Over the same period net profit grew from INR644 million to INR998 million.

TRG currently owns 28 million shares in Sansera through its subsidiary CVCI, giving it a 55% stake. The firm has held the shares since 2013, when it acquired CVCI, the former private equity unit of Citigroup. CVCI invested in Sansera earlier that year, committing INR3.4 billion.

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• Topics
• South Asia
• Industrials
• IPO
• India
• The Rohatyn Group
• manufacturing
• automobiles
• Defense & aerospace