Sandhar Technologies Files Papers for IPO

Automotive OEM component supplier Sandhar Technologies today filed its Draft red Herring Prospectus (DRHP) with market regulator SEBI seeking permission for its IPO.

The IPO consists of a fresh issue of equity shares aggregating up to Rs 3,000 million and offer for sale of upto 5,115,456 equity shares by GTI Capital Beta Pvt Ltd at a face value of Rs 10 each at a price band to be decided later.

The Net Proceeds from the Issue will be utilized for the establishment of a new manufacturing facility at Hosur, Tamil Nadu, repayment/pre-payment, in full or part, of certain borrowings and general corporate purposes.

The promoter of the company is Mr. Jayant Davar.

ICICI Securities Limited, IDFC Securities Limited, IIFL Holdings Limited and Jefferies India Private Limited are the Book Running Lead Managers to the issue and Link Intime India Private Limited is the registrar.

Disclaimer: “Sandhar Technologies Limited proposes, subject to requisite approvals, market conditions and other considerations, to make an Initial Public Offer of its Equity Shares and has filed a Draft Red Herring Prospectus with the SEBI. The Draft Red Herring Prospectus is available on the website of SEBI at www.sebi.gov.in as well as the websites of the book running lead managers at www.icicisecurities.com, www.idfccapital.com, www.iiflcap.com and www.jefferies.com. Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, refer to the Red Herring Prospectus which may be filed with the RoC in the future. Potential investors should not rely on the DRHP filed with the SEBI in making any investment decision.

This announcement has been prepared for publication in India and may not be released directly or indirectly in the United States. The announcement is not an offer to sell or a solicitation of any offer to buy securities of our company in the United States. The Equity Shares offered in the Offer have not been and will not be registered under the U.S. Securities Act, 1933, as amended ("U.S. Securities Act") or any state securities laws in the United States, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. Accordingly, the Equity Shares are only offered and sold outside the United States in offshore transactions in reliance with Regulation S under the U.S. Securities Act and the applicable laws of the jurisdiction where these offers and sales occur. The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be offered or sold, and Bids may not be made by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction.”