Sona Comstar IPO subscribed 12% to this point on day 2; retail allotment booked 61%

Sona Comstar IPO has got bids for over 1.19 crore fairness shares against the offer size of over 10.71 crore fairness shares

June 15, 2021 / 05: 42 PM IST

Representative image

Representative image

The final public offer of Sona BLW Precision Forgings (Sona Comstar) witnessed a 27 p.c subscription on June 15, the second day of bidding, amid hobby one day of investor classes.

The retail allotment has been booked 1.02 times, while the allotment plan aside for certified institutional investors has subscribed 14 p.c and non-institutional investors 4 p.c.

The Rs 5,550-crore public instruct has got bids for over 2.91 crore fairness shares against the offer size of over 10.71 crore fairness shares, the subscription files on hand on the exchanges showed. The offer size is rather then anchor e book that was opened for a day on final Friday.

The offer opened for subscription on June 14 and can shut on June 16. The price band for the difficulty has been plan at Rs 285-291 per fairness fragment. The IPO contains a fresh instruct of Rs 300 crore and an offer in the marketplace of Rs 5,250 crore by Singapore VII Topco III Pte Ltd, an affiliate of The Blackstone Neighborhood.

Furthermore learnSona Comstar IPO | 10 issues to know sooner than subscribing the difficulty

"We dangle Sona Comstar IPO offer presents investors an different to make investments in a number one and rather about a automobile programs and system company arresting about designing, OEM manufacturing and supplying extremely engineered merchandise with high middle of attention on EV motors system," acknowledged Mehta Equities which instructed terrible investors to subscribe with warning of probability for sizzling itemizing rep.

The brokerage is optimistic in regards to the electrical automobile (EV) system manufacturing sector as demand would upward push going forward ensuing from high fuel price whereby Sona Comstar has sing alternatives for the future.

"But one would possibly per chance per chance aloof also rob into consideration about a dangers sooner than making an informed resolution to make investments on this IPO. A indispensable fragment of the difficulty is an offer in the marketplace, and high competitors in domestic as successfully as world markets can withhold margins below take a look at," acknowledged Mehta Equities.

Incorporated in 1995, Sona Comstar is one in every of India's main automobile skills companies. It is a ways into designing, manufacturing and supplying extremely engineered, mission-indispensable automobile programs and system.

Furthermore learn - Sona Comstar IPO opens nowadays: Might per chance aloof you rob the trip?

It caters worldwide to its customers in the US, Europe, India and China, for every electrified and non-electrified powertrain segments. Sona Comstar is with out doubt some of the raze 10 avid gamers globally in the differential bevel equipment market. It owns 9 manufacturing and assembly amenities one day of India (6), China, Mexico and the US.

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