The Rohatyn Group Partially Divests Shareholding in the IPO of Sansera Engineering Limited on Indian Stock Exchanges
TRG funds invested in Sansera in 2013 and were the largest shareholders immediately prior to the IPO.
The Rohatyn Group (“TRG”), a global asset management firm with expertise in emerging markets and real assets, today announced that portfolio company Sansera Engineering Limited (“Sansera”) was admitted to listing on the BSE (formerly, Bombay Stock Exchange) and NSE (“National Stock Exchange”) in India on September 24, 2021, with Sansera’s shares opening for trading on the NSE at INR 811 per share and closing at INR 818 per share (approximately 10% above the IPO price of INR 744 per share).
TRG funds invested in Sansera in 2013 and were the largest shareholders immediately prior to the IPO. The IPO was an offer for sale in which existing shareholders sold shares for an aggregate amount of INR 12,825 million (approximately USD 173 million). TRG funds sold approximately 47.5% of their investment in Sansera in the IPO and continue to remain significant shareholders post the IPO.
Sansera is an engineering-led integrated manufacturer of complex and critical precision engineered components across automotive and non-automotive sectors. Within the automotive sector, Sansera manufactures and supplies a range of precision forged and machined components and assemblies that are critical for engine, transmission, suspension, braking, chassis and other systems for the two-wheeler, passenger vehicle and commercial vehicle verticals. Within the non-automotive sector, Sansera manufactures and supplies a range of precision components for the aerospace, off-road, agriculture and other segments, including engineering and capital goods. Sansera is a global supplier and derived 64.98% of its revenue from sale of products from India and the remaining 35.02% from Europe, the USA and other international countries combined during the year ended March 31, 2021.
Sansera is a technology-driven company with a focus on design, engineering, machine building and automation capabilities and has manufactured several complex special purpose machines in-house. Sansera supplies most of its products directly to OEMs in finished condition, resulting in significant value addition.
Raunak Gupta, TRG Director and Nominee Director on the board of Sansera, stated: “Sansera’s business model is underlined by advanced capabilities in engineering and machine building, which have evolved over several decades and have enabled the company to deliver consistent growth as well as continued customer and product diversification. Leveraging these capabilities and an employee culture that emphasizes teamwork and collaboration across functions, Sansera is well poised to consolidate its global market share in its existing automotive business, diversify into new products to cater to the expected increase in electrification of vehicles and further expand its addressable market in the non-automotive sector.”
Rajeev Kalra, Managing Director and Head of India at TRG and erstwhile Director of Sansera, said: “We are proud to be associated with Sansera, its founding shareholders, management and employees. Sansera’s successful IPO opens up a new chapter in its very successful history and I am confident that the Sansera team will continue to work for public shareholders with even more vigor than in the past."
TRG founder and CEO Nick Rohatyn said: “Sansera is a great example of TRG’s partnership approach in India, which can help businesses achieve their full potential and ambitions. I congratulate TRG’s team in India for having achieved such a successful outcome and for firmly believing in the potential and prospects of Sansera."
For more details on Sansera and its IPO, please refer to https://www.sansera.in, https://www.nseindia.com/market-data/issue-information?symbol=SANSERA&series=EQ&type=Past
About TRG
Founded in 2002, The Rohatyn Group is an asset management firm focused on emerging markets and real assets headquartered in New York, with a presence around the globe including Boston, Buenos Aires, Montevideo, Lima, São Paulo, London, Cairo, Mumbai, New Delhi, Singapore, Hanoi, Kuala Lumpur and Rotorua. For more information, please visit www.rohatyngroup.com
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