Sona Comstar will launch an preliminary public provide (IPO) on June 14. The auto elements agency’s public situation will shut on June 16. The shares shall be obtainable within the value band of Rs 285-291 per share. The shares are more likely to be listed on the BSE Sensex and NSE Nifty indices.
Sona Comstar’s Rs 5,550-crore provide will encompass a recent situation of Rs 300 crore and a suggestion on the market of as much as Rs 5,250 crore by Singapore VII Topco III Pte Ltd. The recent situation proceeds shall be used for repaying money owed and normal company functions.
Applicants can place bids for a minimal 51 shares and in multiples of 51 shares thereafter, extending as much as 13 tons. The firm has fastened the reserved portion for certified institutional consumers at 75 per cent, retail at 10 per cent and non-institutional buyers at 15 per cent.
Sona Comstar designs, manufactures and provides mission crucial automotive methods and parts to automotive OEMs throughout US, Europe, India and China. It has 9 manufacturing and meeting services throughout India, China, Mexico and USA.
Sunjay Kapur, Sona Autocomp and Singapore Topco are the promoters of Sona Comstar. Kotak Mahindra Capital Company, Credit Suisse Securities, JP Morgan India, JM Financial and Nomura Financial Advisory and Securities are the guide working lead managers to the problem.
Meanwhile, the Rs 909 crore IPO of the Kolkata-based lengthy metal merchandise and ferro alloy firm Shyam Metalics’ may even open on June 14.