INSUBCONTINENT EXCLUSIVE:
Sona Comstar IPO got bids for 24.44 crore shares against problem size of 10.49 crore sharesSona BLW Precision Forgings (Sona Comstar) shares
will debut on the bourses tomorrow, i.e
The Rs 5,550-crore going public (IPO), which was open in between June 14 and June 16, was subscribed 121.43 times; getting bids for 24.44
crore shares versus the issue size of 10.49 crore shares.Sona Comstar's offer included a fresh problem of Rs 300 crore and an offer for sale
of approximately Rs 5,250 crore by Singapore VII Topco III Pte Ltd
The business had actually fixed the price band of the main market sale at Rs 285-291 per share.The company will utilize the earnings from
the fresh concern to pay back debts and for general corporate functions, whereas the cash from the offer for sale will go to offering
Singapore VII Topco III Pte
Ltd, which is an affiliate of The Blackstone Group.Sona Comstar was promoted by Sunjay Kapur, Sona Autocomp and Singapore Topco
It designs and produces mission crucial automotive systems and elements at nine manufacturing and assembly facilities situated in India,
China, Mexico and USA.Kotak Mahindra Capital Business, Credit Suisse Securities, JP Morgan India, JM Financial and Nomura Financial Advisory
and Securities are the book running lead managers to the concern.
