June 09, 2021 / 09: 29 AM IST
Auto parts firm Sona Comstar will originate an initial public offer (IPO) on June 14. The grief will shut on June 16. The company, in consultation with provider provider bankers, has mounted a note band at Rs 285-291 per fragment for its IPO.
The Rs 5,550-crore offer comprises a new grief of Rs 300 crore and a proposal for sale of up to Rs 5,250 crore by Singapore VII Topco III Pte Ltd.
The company will utilise new grief proceeds for repaying of cash owed, and long-established corporate purposes.
Moneycontrol reported on June 8 about the expected originate of Sona Comstar IPO. Moneycontrol became also the first to file the firm’s checklist plans on January 20, 2021.
Bids will doubtless be made for no longer decrease than 51 equity shares and in multiples of 51 equity shares thereafter. The reserved part for licensed institutional customers has been mounted at 75 percent of total grief dimension, for retail 10 percent and non-institutional merchants 15 percent.
One more company, Shyam Metalics, will originate its IPO on June 14.
Sona Comstar is one of India's main automotive know-how companies, designing, manufacturing and supplying extremely engineered, mission serious automotive systems and components equivalent to differential assemblies, differential gears, feeble and micro-hybrid starter motors, BSG systems, EV traction motors and motor retain watch over devices to automotive OEMs across US, Europe, India and China.
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The company provides products for both electrified and non-electrified powertrain segments. It has 9 manufacturing and meeting products and companies across India, China, Mexico and USA, of which six may per chance be found in India.
In August 2019, Blackstone announced the merger of Chennai-basically based auto factor firm Comstar, which it controlled, with Sunjay Kapur's Sona BLW to manufacture Sona Comstar.
Sunjay Kapur, Sona Autocomp and Singapore Topco are promoters of the corporate.
Sona Comstar compares itself with Motherson Sumi Programs, Sundaram-Clayton, Bosch, Bharat Forge, Mahindra CIE Car, Endurance Technologies, Varroc Engineering, Minda Industries, Sundram Fasteners, and Wabco India.
Kotak Mahindra Capital Company, Credit Suisse Securities, JP Morgan India, JM Financial, and Nomura Financial Advisory and Securities are the e book running lead managers to the grief.
