Sona Comstar IPO: All you need to know about Sona Comstar IPO

NEW DELHI: The initial public offer (IPO) of Sona BLW Precision Forgings (Sona Comstar) will hit Dalal Street on Monday. The auto component manufacturer is looking to raise about Rs 5,550 crore from the primary market.

The issue comprises fresh issuance of equity shares, aggregating up to Rs 300 crore, and an offer for sale of shares worth up to Rs 5,250 crore.

The company is looking to utilise the proceeds from the fresh issue to repay/prepay approximately Rs 241.12 crore of its identified borrowings, and for other general corporate purposes.

Here are key things to know about the Sona Comstar IPO:

  1. When will the Sona Comstar IPO open for subscription?
    The issue will open for subscription on Monday, June 14, and close on Wednesday, June 16.
  2. What is the price band for Sona Comstar IPO?
    The price band for the IPO has been fixed at Rs 285-291 apiece.
  3. What is the lot size for the Sona Comstar IPO?
    Investors can subscribe to the IPO by bidding for a minimum of 51 shares, and in multiples thereof. A single lot is worth Rs 14,841 at the upper range of the price band. Retail investors can bid for a maximum of 14 lots.
  4. What is the issue size of the Sona Comstar IPO?
    The issue comprises fresh issuance of shares aggregating up to Rs 300 crore and an offer for sale of up to Rs 5,250 crore by existing shareholder Singapore VII Topco III Pte. Ltd.
  5. What is the quota reserved for retail investors in the Soma Comstar IPO?
    The quota for retail investors is fixed at 10 per cent of the net offer. The QIB quota is fixed at 75 per cent and 15 per cent of the offer is reserved for NIIs.
  6. When will the basis of allotment be finalised for the Sona Comstar IPO?
    The finalisation of the basis of allotment is likely by June 21 and the initialisation of refunds by June 22. Meanwhile, shares will likely be credited to demat accounts by June 23.
  7. When will Sona Comstar shares list on bourses?
    The listing is likely by June 24.
  8. Where can one check the allotment status?
    Those who would bid for the IPO can check the subscription status on the online portal of KFintech Private, the registrar to the issue.
  9. Which are the leading book managers to the issue?
    Kotak Mahindra Capital Company, Credit Suisse Securities (India), JM Financial, J.P. Morgan India and Nomura Financial Advisory and Securities (India) are the book running lead managers.
  10. What does Sona BLW Precision Forgings do?
    Sona BLW Precision Forgings is one of India’s leading automotive technology companies. It designs, manufactures and supplies highly engineered, mission-critical automotive systems, and components such as differential assemblies, differential gears, conventional and micro-hybrid starter motors, BSG systems, EV traction motors (BLDC and PMSM) and motor control units. It supplies these products to automotive OEMs across the US, Europe, India and China, for both electrified and non-electrified powertrain segments.
  11. What are key revenue segments for Sona BLW Precision Forgings?
    The company is a leading supplier to the fast-growing global electric vehicle markets. It derived 13.8per cent of revenue from the battery EV market and 26.7 per cent from the micro hybrid/hybrid market in FY21. Its global market share of BEV differential assemblies in Calendar 2020 was 8.7 per cent.
  12. Which are the listed peers of Sona Comstar?
    Some of the listed peers of the company are Motherson Sumi Systems, Sundaram Clayton, Varroc Engineering, Bosch, Bharat Forge, Endurance Technologies and Minda Industries.

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