New Delhi-based auto component supplier Sandhar Technologies made a decent debut on the bourses on Monday, listing at a premium of nearly 4% at Rs 345 on BSE as compared to its issue price of Rs 332. \u00a0Earlier, Sandhar Technologies IPO to raise up to Rs 512 crore got subscribed by 6.21 times between March 19-21. Sandhar Technologies initial public offer consisted of a fresh issue aggregating up to Rs 300 crore and an offer for sale of up to 64 lakh equity shares by GTI Capital Beta. According to the company\u2019s prospectus, the promoter\u2019s shareholding is slated to reduce to 70.1% from 82.5%, post offer. Sandhar Technologies had fixed the price band is at Rs 327-332 per share. The bid lot was fixed at 45 equity shares and in multiples of 45 equity shares thereafter. The objects of the public offer include repayment in full, or in part of certain loans and other general corporate purposes from Rs 300 crore received from the fresh issue. The company did not receive any money from the offer for sale component. In their respective IPO notes, most brokerages have given a subscribe rating on Sandhar Technologies\u2019 IPO citing reasonable valuation and the long-term potential for investors. Giving a subscribe rating on the issue, Angel Broking noted that in terms of valuations, the pre-issue P\/E works out to 25x 1HFY2018 annualized earnings (at the upper end of the issue price band), which is lower compared to its closest peer Minda Corporation (trading at 30x its 1HFY2018 annualized earnings). The firm added that better ROE profile and reasonable valuations warrant a subscribe rating. Sandhar Technologies is a leading auto component suppliers and focuses on safety and security systems such as lock assemblies, mirror assemblies, operator cabins for 2W, PV and off-highway vehicles. Notably, the company has 21 product categories and 31 manufacturing facilities in India, 2 in Spain, 1 in Mexico and 5 are in the process of getting commissioned in India.