- 22 Jun 2023
- ICICI Securities
SANSERA - 1230 Change: 7.00 (0.57 %)
News: As per media sources, PE funds invested in Sansera Engineering i.e. Ebene Ltd and CVCIGP li Employees Ebene are likely to sell 14.1% in the company via block deal mechanism on stock exchanges today. Media articles indicate the floor price for the deal at ~₹800/share (i.e. a discount of 5% to last closing price) with total transaction value pegged at ~₹600 crore.
Views: The aforesaid PE funds stake in Sansera Engineering is currently pegged at 28% and post this transaction their stake shall decline to 14% which might come for selling at some later point in time. 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. However given the floor price is at a discount to last closing price of ₹842/share, we expect stock to open negative in opening trade today.
Impact: Negative