Sandhar Technologies, Karda Construction to debut on bourses on April 2

Sandhar Technologies and Karda Construction will debut on exchanges on Monday, April 2, 2018 after closing their public issues last week.

Sandhar Technologies has fixed the final issue price at Rs 332 per share and Karda at Rs 180 per share.

The initial public offer of auto component maker Sandhar was subscribed 6.19 times during March 19-21, 2018.

The Rs 512-crore IPO received bids for 6.73 crore equity shares against the total issue size of 1.08 crore shares. Qualified institutional buyers (QIBs) category was subscribed 14.5 times, non institutional investors 6.39 times and retail investors 1.42 times.

The public offer consists of fresh issue of shares worth Rs 300 crore and an offer for sale of up to 64 lakh shares (including anchor portion of 46,30,842 shares). The price band for the offer was at Rs 327-332.

The company plans to use a portion of the net proceeds towards repayment of certain loan facilities and for other general corporate purposes. ICICI Securities and Axis Capital are the book running lead managers to the issue.

Meanwhile, the Rs 77.40-crore Karda Construction's public offer was subscribed 2.54 times during March 16-21.

The initial public offer of upto 43,00,000 equity shares comprised of a fresh issue of 23,00,000 equity shares and an offer for sale upto 20,00,000 equity shares.

The reserved portion of qualified institutional buyers (QIBs) was subscribed 1.55 times, non-institutional investors 3.44 times and retail investors 2.01 times.