Sandhar Technologies to roll out Rs. 400 crore IPO

Gurugram-based auto component maker Sandhar Technologies is likely to unfurl its initial public offering worth Rs. 400 crore in the current financial year, according to media reports. The company has appointed Axis Capital and ICICI Securities as its merchant bankers to advice on the company ’s stock market debut.
 
The IPO will most likely include issue of fresh shares with GTI Capital, which is a minority shareholder in the company. GTI Capital is promoted by Gaurav Dalmia.
 
Sandhar Technologies manufactures door handles for cars, wheel rims, locking systems, vision systems, clutch assemblies, brake panels among other auto products. One of the major customers of the company includes Honda Cars, while its other clients also include Suzuki, Yamaha, Bosch, Korea’s Doosan and Hyundai Construction Equipment with TVS, Hero Group and BEML .
 
About 19 companies have raised over Rs. 26,000 crore through IPOs over the past six months. The top IPOs of the April-September period includes the IPOs of   Reliance Nippon Life Asset Management, HDFC Standard Life Insurance Company, General Insurance Corporation of India and The New India Assurance Company.