Sandhar Techno to hit IPO market on Mar 19

Sandhar Technologies (STL) is a customer centric component supplier primarily catering to automotive OEMs and largely focused on safety and security systems of vehicles with a pan India presence and a growing international footprint. STL makes 21 categories of products. It manufactures products from 31 facilities across eight states in India, two facilities in Spain, and one in Mexico. It is in the process of commissioning five facilities in India.To part finance certain debts, working capital and general corpus fund needs, STL is coming out with an IPO of 1,54,36,145 shares comprising of 90,36,145 shares and offer for sale of 64,00,000 shares via book building route with a price band of Rs 327 – Rs 332 to mobilise Rs. 504.76 crore – Rs 512.48 crore based on lower and upper price bands. Issue opens for subscription on March 19, 2018 and will close on March 21.