Sona BLW Precision Forgings (Sona Comstar) has manufactured a tranquil debut on the bourses. The shares of the Blackstone-backed world-wide automotive know-how business stated at Rs 302.4 on the BSE, a 3.9 for every cent premium as opposed to the challenge value of Rs 291 for every share. On the NSE, the shares opened at Rs 301, up 3.4 for each cent.
At 10:20 am, Sona Comstar shares had been trading at Rs 305.55, up 5 for each cent on the BSE and at Rs 305.25, up 4.9 for every cent on the NSE.
The Rs 5,550-crore initial public giving (IPO), which was open concerning June 14 and June 16, comprised a new situation of Rs 300 crore and an present for sale of Rs 5,250 crore by the advertising shareholder Singapore VII Topco III Pte. Ltd, an affiliate of The Blackstone Team. The present was subscribed 121.43 moments, receiving bids for 24.44 crore shares against the problem sizing of 10.49 crore shares.
Sona Comstar was promoted by Sunjay Kapur, Sona Autocomp and Singapore Topco. It patterns and manufactures mission significant automotive techniques and factors at 9 amenities positioned in India, China, Mexico and United states of america.
Kotak Mahindra Capital Corporation, Credit rating Suisse Securities, JP Morgan India, JM Economical and Nomura Economic Advisory and Securities are the ebook functioning direct managers to the situation.