image source: Business insider India
The public proposal of Sona BLW Precision Forgings (Sona Comstar) saw a 12 percent membership on June 15, the second day of offering, in the midst of premium across financial backer classes.
The retail parcel has been reserved 61%, while the segment put away for qualified institutional purchasers has bought in 2% and non-institutional financial backers 1%. The Rs.5,550-crore public issue has gotten offers for over 1.19 crore value shares against the offer size of over 10.71 crore value shares, the membership information accessible on the trades appeared. The offer size is barring anchor book that was opened for a day on last Friday.
The offer opened for membership on June 14 and will close on June 16. The value band for the issue has been set at Rs.285-291 for each value share. The IPO contains a new issue of Rs.300 crore and a proposal available to be purchased of Rs.5,250 crore by Singapore VII Topco III Pte Ltd, a subsidiary of The Blackstone Group.
“We trust Sona Comstar IPO offer. It offers financial backers a chance to put resources into a main and broadened car frameworks and segments organization engaged with planning, OEM assembling and providing exceptionally designed items with high spotlight on EV engines segments,” said Mehta Equities which prescribed unsafe financial backers to buy in with alert of hazard for fair posting acquire.
The business is idealistic about the electric vehicle (EV) segments producing area as request would rise going ahead because of high fuel cost wherein Sona Comstar has development openings as long as possible.
“In any case, one ought to likewise think about a couple of dangers prior to settling on an educated choice to put resources into this IPO. A significant piece of the issue is a proposal available to be purchased, and high rivalry in homegrown also as worldwide business sectors can hold edges under check,” said Mehta Equities.
Consolidated in 1995, Sona Comstar is one of India’s driving car innovation organizations. It is into planning, assembling and providing profoundly designed, strategic car frameworks and segments.
It produces worldwide to its customers in the US, Europe, India and China, for both electric and non-zapped powertrain fragments. Sona Comstar is among the best 10 players all around the world in the differential angle gear market. It possesses nine assembling and get together offices across India (6), China, Mexico and the US.