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NEW DELHI: Auto component manufacturer Sona BLW Precision Forgings (Sona Comstar) Wednesday said it will launch its initial public offer on June 14 for Rs 5,550 crore.
Sona Comstar has fixed the price band for the issue at Rs 285 to Rs 291 per share, the company said in a statement.
The bid/offer period for the IPO of equity shares will open on Monday, June 14, 2021 and close on Wednesday, June 16, 2021. The total offer size is up to Rs 5,550 crore with a fresh issuance of equity shares, aggregating up to Rs 300 crore and an offer for sale of equity shares aggregating up to Rs 5,250 crore, by the selling shareholder, namely, Singapore VII Topco III Pte. Ltd.
Sona Comstar intends to utilize the proceeds from the fresh issue to repay/prepay approximately Rs 241.12 crore of its identified borrowings, besides general corporate purposes.
This will be the largest IPO by an auto component maker, the company claimed.
Sona Comstar has fixed the price band for the issue at Rs 285 to Rs 291 per share, the company said in a statement.
The bid/offer period for the IPO of equity shares will open on Monday, June 14, 2021 and close on Wednesday, June 16, 2021. The total offer size is up to Rs 5,550 crore with a fresh issuance of equity shares, aggregating up to Rs 300 crore and an offer for sale of equity shares aggregating up to Rs 5,250 crore, by the selling shareholder, namely, Singapore VII Topco III Pte. Ltd.
Sona Comstar intends to utilize the proceeds from the fresh issue to repay/prepay approximately Rs 241.12 crore of its identified borrowings, besides general corporate purposes.
This will be the largest IPO by an auto component maker, the company claimed.
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