Public Market

IPO

Autocomp maker Sona Comstar raises Rs.2,498-Cr from 42 anchor investors

Business Line  

Automotive components and technology supplier Sona BLW Precision Forgings (Sona Comstar) has raised INR 2,498 crore, 45% of its total Initial Public Offering (IPO) size, from 42 anchor investors. Sona Comstar's anchor book was subscribed by 24 foreign portfolio investors, 11 domestic mutual funds, five life insurance companies and two Alternative Investment Funds (AIFs). The company allocated 8.6 crore shares at INR 291 per share. The Government of Singapore Investment Corporate (GIC) and Monetary Authority of Singapore (MAS) together invested INR 401.5 crore in the anchor book. Other foreign investors in the anchor book include Nomura Asset Management, Fidelity, Eastspring Investments, Goldman Sachs Asset Management and Amundi. Domestic investors include SBI MF, Axis MF, Birla MF, HDFC MF, Mirae Asset MF, SBI Life Insurance, Kotak MF, Kotak Life Insurance, Birla Life Insurance, Max Life Insurance, Bharti Axa, Invesco MF, Canara Robeco MF, Sundaram MF, IIFL, Bank of Baroda MF and Edelweiss.