Building blocks in place for next phase of upsurge We attended the IPO meet of Sandhar Technologies Limited (STL), one of the leading manufacturers of two wheelers locking systems and commercial vehicle rear view market in India. Overall STL present in ~21 product categories such as wheel assembly, sheet metal components, aluminum components etc. and catering to various industry segments. Currently it has 31 manufacturing facilities in India, 2 in Spain, 1 in Mexico, and 5 in the process of getting commissioned in India. It also has 6 Joint Ventures with: 1) JBM Auto, 2) Han Sung, 3) Jinyoung Electro-Mechanics, 4) DMRG and Tarun Agrawal,...