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Sandhar Technologies IPO subscribed 3.31 times


The initial public offer of auto component maker Sandhar Technologies was subscribed 3.31 times so far on the last day of bidding.

The IPO to raise Rs 512 crore received bids for 5,15,34,900 shares against the total issue size of 1,55,74,311 shares, data available with the NSE till 1545 hrs showed.

The public offer comprises fresh issue of shares worth Rs 300 crore and an offer for sale of up to 64 lakh shares (including anchor portion of 46,30,842 shares).

The price band for the IPO was fixed at Rs 327-332.

ICICI Securities and Axis Capital are managing the issue.

Till Tuesday, the offer was subscribed 40 per cent.

Sandhar Technologies on Friday raised Rs 154 crore from anchor investors.

The company plans to use a portion of the net proceeds towards repayment of certain loan facilities and for other general corporate purposes.

The shares are proposed to be listed on BSE and NSE.

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