NEW DELHI: Blackstone-promoted Sona BLW Precision Forgings on Tuesday obtained capital markets regulator Sebi's approval to float initial public offering (IPO) section-gross sales. The firm plans to lift Rs 6,000 crore.
The final public provide contains a fund lift by capability of a contemporary issuance of shares amounting to Rs 300 crore and Rs 5,700 crore thru a proposal-for-sale by shareholder Singapore VII Topco III Pte Ltd, which is an affiliate of The Blackstone Community Inc.
Throughout FY16-20, the firm saw its total working earnings develop at the CAGR of 10.9 per cent. In FY20, as when put next with the head 10 publicly-listed auto component manufacturers in India by market capitalization, Sona BLW Precision Forgings had the ideal working EBITA margin, PAT margin, ROCE and ROE, the firm claims.
Kotak Mahindra Capital Company, Credit rating Suisse Securities, JP Morgan India,
and Nomura Financial Advisory and Securities are the guide running lead managers (BRLMS) to the disaster.
The Gurugram-headquartered firm is one amongst India’s leading car technology firms, designing, manufacturing and supplying highly engineered, mission valuable car programs and parts reminiscent of differential assemblies, differential gears, venerable and micro-hybrid starter motors, BSG programs, EV traction motors and motor alter fashions.
It moreover stands to be one amongst the 2 largest exporters of starter motors from India moreover being the largest manufacturer of differential gears for passenger autos, industrial autos and tractors in India. Some of its key OEM potentialities encompass a world OEM of EVs, a North American OEM of passenger autos and industrial autos, Ashok Leyland, Daimler, Escorts, Mahindra & Mahindra, Mahindra Electric, Maruti Suzuki, Renault Nissan, Volvo and Volvo Eicher.
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