May possibly additionally simply 11, 2021 / 03: 31 PM IST
Blackstone-backed Sona BLW Precision Forgings has bought the approval of capital markets regulator Securities and Alternate Board of India (Sebi) for its preliminary public offering.
The public provide includes a unique peril of Rs 300 crore and an provide for sale of Rs 5,700 crore by selling shareholder Singapore VII Topco III Pte Ltd, an affiliate of the Blackstone Neighborhood Inc.
The Gurugram headquartered firm is one of India's main automotive abilities firms. It is engaged in designing, manufacturing and supplying highly engineered, mission-necessary automotive programs and parts, to automotive OEMs across the US, Europe, India and China.
The firm supplies merchandise for both electrified and non-electrified powertrain segments.
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Some of its key OEM (usual tools producer) clients consist of a international OEM of EVs, a North American OEM of passenger vehicles and commercial vehicles, Ashok Leyland, Daimler, Escorts, Mahindra & Mahindra, Mahindra Electric, Maruti Suzuki, Renault Nissan, Volvo and Volvo Eicher.
Sona Comstar will utilise unique peril proceeds for repaying money owed and total corporate capabilities.
The firm has 9 manufacturing and assembly companies and products across India, China, Mexico and the US. Six are located in India from the place it supplies merchandise to 6 out of the head 10 international PV OEMs, three out of the head 10 international CV OEMs and seven out of the head eight international tractor OEMs by quantity, in step with the Ricardo Assert.
Kotak Mahindra Capital Firm, Credit Suisse Securities, JP Morgan India, JM Monetary and Nomura Monetary Advisory and Securities are the e-book-running lead managers to the peril.