IPO: Sandhar Technologies Limited
Company & Business Profile
Sandhar Technologies Limited is engaged in the business of designing and manufacturing a diverse range of automotive components, parts and systems, largely focused on safety and security systems of vehicles.
The company is a leader in the two-wheeler locking systems market, and the commercial vehicle rear view market in India and are one of the two largest companies catering to the commercial vehicle locking systems market, and the two wheeler rear view market in India. It is also one of the two largest manufacturers of operator cabins in India, along with being the largest player in the excavator cabins market.
The company manufactures its products from 29 manufacturing facilities across eight states in India, two manufacturing facilities in Spain, and one manufacturing facility in Mexico.
The company’s customer portfolio consists of 79 Indian and global OEMs across various segments including Ashok Leyland, Doosan Bobcat, Escorts, Hero, Honda Cars, Komatsu, Scania, TAFE, Tata Motors, TVS, UM Lohia, and Volvo etc. In the last 12 years, the Company has received investment by two private equity investors, namely Actis Group and GTI.
As of October 31, 2017, it had a total work force of 7,744 individuals comprising of 2,363 employees, and 5,381 individuals engaged on contractual basis.
Objects of the Issue
1. The company will not receive any proceeds from the Offer for Sale.
2. The company proposes to utilize the Net Proceeds from the fresh issue towards:
a. Repayment or prepayment in full or in part of certain loans availed by the company; and
b. General corporate purposes
Listing
The equity shares of the company are proposed to be listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
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