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Sona BLW Precision Forgings raises Rs 2400 crore through QIP

10 Sep 2024 Evaluate

Sona BLW Precision Forgings (Sona Comstar), has completed its Rs 2,400 crore Qualified Institutions Placement (QIP). The issue garnered strong interest from institutional investors and sovereign wealth funds, resulting in over 5.5 times subscriptions, underscoring investors' confidence in the company’s strategic vision and growth strategies.

The QIP opened on September 4, 2024 and closed on September 9, 2024. Sona Comstar issued 34,782,608 equity shares to qualified institutional buyers (QIBs) at an issue price of Rs 690 per equity share, including a premium of Rs 680 per equity share. Some of the largest investment managers, such as SBI Mutual Fund, ICICI Prudential Mutual Fund, White Oak, Goldman Sachs Asset Management, Axis Mutual Fund, Aditya Birla Mutual Fund, Norges, BNP Paribas Fund, Fidelity International, Franklin Templeton and Fidelity Management & Research, amongst others, participated in the QIP, a positive reflection on the company's long-term growth prospects. The proceeds from the QIP will further bolster the company’s capital structure to support its organic and inorganic growth strategies.

Sona BLW Precision Forgings is one of the leading automotive technology companies in India. It is primarily engaged in designing, manufacturing, and supplying high-quality mission-critical automotive components such as differential assemblies, gears, conventional and micro-hybrid starter motors, etc.


Sona BLW Precision Share Price

594.50 13.55 (2.33%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
SamvardhanaMotherson 125.00
Tube Investments 2789.65
Bosch 37505.60
UNO Minda 1097.30
CIE Automotive India 490.15
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