Blackstone-backed Sona Comstar files papers with Sebi for Rs 6,000 cr IPO

NEW DELHI: Sona BLW Precision Forgings Ltd, an automobile know-how company, filed its papers with the regulator to amass Rs 6,000 cr by capacity of Preliminary Public Offering (IPO).

The final public field will encompass a contemporary field of shares amounting to Rs 300 crore and an offer within the marketplace aggregating to as much as Rs 5,700 crore by selling shareholder Singapore VII Topco III Pte Ltd, an affiliate of The Blackstone Community Inc.

The fraction reserved for qualified institutional customers may be as much as 75 per cent of the offer. Non-institutional traders can comprise as much as 15 per cent of the fraction reserved, while as much as 10 per cent may be reserved for the retail traders.

As acknowledged within the DRHP, the company intends to utilise the proceeds from the contemporary field to repay/prepay Rs 225 crore of its borrowings besides overall corporate functions.

The Gurugram-headquartered company is one amongst India’s leading automobile know-how firms, designing, manufacturing and supplying extremely engineered mission-extreme automobile programs and substances such as differential assemblies, differential gears, feeble and micro-hybrid starter motors, BSG programs, EV traction motors and motor retain an eye on models to automobile OEMs all the method by the US, Europe, India and China, for every electrified and non-electrified powertrain segments.

Some of its key OEM customers encompass a global OEM of EVs, a North American OEM of passenger vehicles and industrial vehicles,

, Daimler, Escorts, Mahindra & Mahindra, Mahindra Electric, Maruti Suzuki, Renault Nissan, Volvo and Volvo Eicher.

Between FY16-20, the company has viewed its total running earnings grow on the CAGR of 10.9 per cent. In FY20, as compared with the tip 10 publicly-listed auto facet manufacturers in India by market capitalization, Sona BLW Precision Forgings had the glorious running EBITA margin, PAT margin, ROCE and ROE.

Kotak Mahindra Capital Firm Ltd, Credit rating Suisse Securities Pvt Ltd, JP Morgan India Pvt Ltd, JM Monetary Ltd and Nomura Monetary Advisory and Securities Pvt Ltd are the BRLMS to the topic.

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