Sona BLW Precision Forgings Ltd is set to raise INR 6000 crores through an Initial Public Offering. The company filed its red herring prospectus with SEBI in February 2021. Sona Comstar is backed by PE major Blackstone and Sona Group. The company is a leading automotive parts manufacturer and supplier to domestic and global markets. They supply highly-engineered, mission-critical automotive systems and components to auto original equipment manufacturers (OEMs)
It operates a total of 9 manufacturing and assembly facilities out of which 6 are based out of India and one each out of China, Mexico, and the USA respectively. It has 8 warehouses dispersed across India, the USE, Germany, and Belgium. It also supplies automotive parts to Electric Vehicle markets.
The company has announced a fresh issue of INR 300 crores and an offer for sale of INR 5700 crores for shareholders Singapore VII Topco III Pte Ltd, an affiliate of The Blackstone Group Inc. As of December, Singapore VII Topco III Pte held a 66.28% stake in Sona Comstar, while the rest 33.72% was held by Sona Autocomp Holding Pvt. Ltd.
In FY20, the company reported a revenue of INR 1,037.98 crore, up from ₹699.22 crores in the previous year, and net profit of ₹360.34 crores, up from ₹100.11 crores a year earlier.
Sona BLW Precision Forgings IPO Details
The company is making a fresh issue of shares to the tune of INR 300 crores.
Offer for Sale
An offer for sale aggregating to INR 5700 crores for selling shareholder Singapore VII Topco III Pte Ltd.
Sona BLW Precision Forgings IPO Share Price
The share price of Sona BLW Precision Forgings is yet to be announced.
BLW Precision Forgings IPO Date
The BLW Precision Forgings IPO opening and the closing date are yet to be notified.
This new IPO’s issue objectives for the fresh issue are repayment and prepayment of debt amount to INR 225 crores apart from other general corporate purposes. The proceed from the sale will go directly to the selling shareholder, in this case, Singapore VII Topco III Pte.
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