- 19 Jun 2024
- ICICI Securities
PE TO MAKE A FULL EXIT THOUGH BLOCK DEALS TODAY
SANSERA - 1130 Change: 25.10 (2.27 %)News: As per media sources, PE funds invested in Sansera Engineering i.e. Client Ebene Ltd and CVCIGP li Employees Ebene are likely to sell 11.66% in the company via block deal mechanism on stock exchanges today. Media articles indicate that the shares are being offered in the price band of ₹ 1,151-1,212/share with total transaction value pegged at ~₹760 crore.
Views: The aforesaid PE funds stake in Sansera Engineering at the time of listing was ~29% with it offloading ~16% in last fiscal year and looks to sell the remining 11.7% stake now. This will give the PE fund a full exit of their holdings in Sansera and removed the selling overhand on the stock. Given the healthy order wins and intent to diversify its revenue base with target to grow at 20% sales CAGR with 20% margins and similar return ratios we have a positive view on the company.
Impact: Positive