Two Entities Sell Sansera Engineering Stake for Rs 750 Crore

In a significant move within the auto components industry, Sansera Engineering saw a major change in its shareholding pattern this Wednesday. Two key stakeholders, Client Ebene Ltd and CVCIGP II Employee Ebene, exited the Bengaluru-based firm by offloading their entire 11.66 per cent stake. The transaction, executed through open market operations on the National Stock Exchange (NSE), amounted to a substantial Rs 750 crore.

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The divestment involved a total of 62.53 lakh shares. Client Ebene Ltd parted with 50.30 lakh shares, while CVCIGP II Employee Ebene sold 12.23 lakh shares. This equated to stakes of 9.38 per cent and 2.28 per cent in Sansera Engineering, respectively. The shares were sold at an average price of Rs 1,200 each, culminating in a combined transaction value of Rs 750.39 crore.

This significant stake sale attracted a diverse group of buyers, including prominent domestic mutual funds and insurance companies, alongside foreign investors. Notable entities such as SBI Mutual Fund (MF), Axis MF, Bandhan MF, DSP MF, HDFC Standard Life Insurance, ICICI Prudential Life Insurance, Morgan Stanley Asia Singapore, Societe Generale, Custody Bank of Japan Ltd, and Amundi Funds New Silk Road were among the purchasers.

Following the transaction, Client Ebene Ltd's holding in Sansera Engineering was recorded at 9.38 per cent, with CVCIGP II Employee Ebene retaining a 2.28 per cent stake as of March 2024. The market responded positively to these developments, with Sansera Engineering's shares experiencing a 5.14 per cent increase to close at Rs 1,274 apiece on the NSE.

This is not the first time Client Ebene and CVCIGP II Employee Ebene have reduced their stake in Sansera Engineering. In June 2023, they had pared down a 14 per cent stake in the company for Rs 622 crore.

In related news from the NSE, Orbimed Asia III Mauritius executed a separate block deal by divesting its entire 9.88 per cent stake in Advanced Enzyme Technologies for Rs 425 crore through an open market transaction. A total of 1,10,53,245 shares were sold at an average price of Rs 385 each, leading to a deal size of Rs 425.55 crore. Motilal Oswal Financial Services acquired these shares at the stated price.

The share price of Advanced Enzyme Technologies saw a slight decrease of 0.29 per cent to settle at Rs 380.70 on the NSE following this transaction.

These transactions underscore the dynamic nature of shareholding patterns within key industries and highlight the active participation of both domestic and international investors in India's equity markets.