BROKING | DEPOSITORY | DISTRIBUTION | FINANCIAL ADVISORY|MERCHANT BANKING SANDHAR TECHNOLOGIES LTD IPO Report Issue Date 19 th Mar-21 st Mar 2018 Price Band 327-332/Share Bid Lot 45 & in multiplethereof Face Value Rs 10/Share Listing BSE, NSE Offer For Sale 64,00,000 Eq Shares Fresh Issue Rs 300 Cr Pre Issue Eq Shares 5.12 Cr Eq Shares Post Issue Eq Shares 6.02 Cr Eq shares* BRLM ICICI Securities Ltd, Axis Capital Ltd Registrar Link Intime India Private Ltd Note * Calculated @ Upper Price Band of Rs 332/ Share Research Analyst : Astha Jain IPO Details Co is the leader in the two-wheeler locking systems market, and the commercial vehicle rear view market in India, and is one of the two largest companies catering to the commercial vehicle locking systems market, and the two wheeler rear view market in India. Co is also one of the two largest manufacturers of operator cabins in India, along with being the largest player in the excavator cabins market (Source: CRISIL Report). Co’s business involves designing and manufacturing a diverse range of automotive components, parts and systems, driven by technology, process, people and governance. Long-standing, and growing relationships with major OEMs :Co have long-standing relationships with 79 Indian and global OEM customers, which include some leading companies such as Ashok Leyland, Doosan Bobcat, Escorts, Hero, Honda Cars, Komatsu, Scania, TAFE, Tata Motors, TVS, UM Lohia, and Volvo. Co have grown its client base over the last few years to include OEMs such as Caterpillar, CTS, Hyundai Construction, International Tractors, JCB, Kobelco, Mahindra & Mahindra, and SML Isuzu. Joint Ventures & Collaborations : Co currently have six Joint Ventures which manufacture products such as high precision press parts, insert moulded contact plates, AVN panels, and switches. In addition to co’s joint ventures, co have also entered into technical collaborations, inter alia, with: (i) Honda Lock for availing technical advice from Honda Lock in relation to door mirrors, outside door handles, and key sets for automobiles and motorcycles, and (ii) JEM Techno for availing technical advice from JEM Techno in relation to relays used in automobiles. Co have also collaborated with leading international players for development of parking assistant systems, fuel filters, fuel modules, starter motors and shark-finned antennas Valuation Co is bringing the issue at p/e multiple of 28.7-29.19 on post issue H1FY18 annualized eps at price band of Rs 327-332/share. Co with its long-standing, and growing relationships with major OEMs has diversified product portfolio along with in-house research and development, design capability and technical collaborations. Looking after strong fundamentals of company, we recommend “Subscribe” to issue. www.hemsecurities.com SUBSCRIBE For Private Circulation Only HEM RESEARCH
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BROKING | DEPOSITORY | DISTRIBUTION | FINANCIAL ADVISORY|MERCHANT BANKING
SANDHAR TECHNOLOGIES LTD
IPO Report
Issue Date 19th Mar-21st Mar 2018
Price Band 327-332/Share
Bid Lot 45 & in multiplethereof
Face Value Rs 10/Share
Listing BSE, NSE
Offer For Sale 64,00,000 Eq Shares
Fresh Issue Rs 300 Cr
Pre Issue Eq Shares 5.12 Cr Eq Shares
Post Issue Eq Shares 6.02 Cr Eq shares*
BRLM ICICI Securities Ltd, Axis
Capital Ltd
Registrar Link Intime India
Private Ltd
Note * Calculated @ Upper Price Band of Rs 332/ Share
Research Analyst : Astha Jain
IPO Details
Co is the leader in the two-wheeler locking systems market, and the
commercial vehicle rear view market in India, and is one of the two largest
companies catering to the commercial vehicle locking systems market, and
the two wheeler rear view market in India. Co is also one of the two largest
manufacturers of operator cabins in India, along with being the largest
player in the excavator cabins market (Source: CRISIL Report). Co’s business
involves designing and manufacturing a diverse range of automotive
components, parts and systems, driven by technology, process, people and
governance.
Long-standing, and growing relationships with major OEMs :Co have
long-standing relationships with 79 Indian and global OEM customers,
which include some leading companies such as Ashok Leyland, Doosan