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Sandhar Technologies settles at discount

Meanwhile, the S&P BSE Sensex rose 286.68 points or 0.87% to settle at 33,255.36.

The stock debuted at Rs 345, a premium of 3.92% to the initial public offer (IPO) price. The stock had hit a high of Rs 351.45 and low of Rs 338.05. On BSE, 13.16 lakh shares were traded on the counter.

The IPO of Sandhar Technologies opened on 19 March 2018 and closed on 21 March 2018. The issue received bids for 6.73 crore shares. The issue was subscribed 6.73 times. The company had priced the IPO at the top end of the Rs 327 to Rs 332 a share price band.

On a consolidated basis, Sandhar Technologies reported profit after tax of Rs 34.57 crore and net sales of Rs 989.41 crore in six-months ended September 2017.

Sandhar Technologies is a component supplier primarily catering to automotive original equipment manufacturers (OEMs). It is in the business of designing and manufacturing a diverse range of automotive components, parts and systems, largely focused on safety and security systems of vehicles.

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