Private Equity

Liquidity Events

Sona Comstar IPO subscribed 2.28 times

MoneyControl  

The INR 5,550-crore public issue of Sona BLW Precision Forgings (Sona Comstar) has subscribed 2.28 times. Investors have put in bids for over 24.44 crore equity shares against the IPO size of more than 10.71 crore equity shares. The portion set aside for retail investors was subscribed 1.58 times, while the reserved portion of qualified institutional buyers witnessed subscription of 3.46 times and that of non-institutional investors, 39%. The offer size excluded the anchor book that fetched INR 2,498 crore to the company, at a higher end of price band of INR 285-291 per equity share. The global automotive technology company launched a public issue comprising a fresh issue of INR 300 crore and an offer for sale of INR 5,250 crore by Singapore VII Topco III Pte. Ltd, an affiliate of The Blackstone Group. The net fresh issue proceeds will be utilised for repaying of debt of INR 241 crore.