Sansera Engineering hits 52-week high riding on large deals

Shares of Sansera Engineering jumped 8 percent to hit the stock’s 52-week-high price of Rs 909.8 following large deals on June 22.

Around 14 percent equity, or 74.53 lakh shares, exchanged hands on the bourses at Rs 835 per unit through the block deal window.

The buyer and seller of the deal could not be ascertained immediately.

At 9:26am, shares of the auto-component maker were trading 5.6 percent up at Rs 889.5 on the BSE.

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Ebene and CVCIGP II Employees EBENE were expected to sell 14.1 percent equity stake in the Bengaluru-based company for Rs 627.5 crore through a block deal. Ebene will offload 47.77 lakh shares (9 percent equity) and CVCIGP II Employee Ebene to sell 26.76 lakh shares (5.1 percent equity), as per reports.

The offer price has reportedly been set at Rs 799.85-841.95 per share.

The company is aiming for a revenue of approximately Rs 3,500 crore by FY25 as against Rs 2,300 crore in FY23 with growth being driven by revival in domestic two-wheeler demand, return of growth in export markets and expansion of the aerospace segment.

The company plans to reduce its net debt-equity ratio to 0.4 times by FY25 from 0.55 times now, along with operating at 8-9 percent of capex-sales ratio and subsequently increase the RoCE (Return on Capital Employed) towards 20 percent with improved profitability, ICICI Securities pointed out in a note recently.

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