Automotive components and technology supplier Sona BLW Precision Forgings (Sona Comstar) has raised ₹2,498 crore, 45 per cent of its total Initial Public Offering (IPO) size, from 42 anchor investors.
This is the country’s third-largest IPO anchor book, the other two being PowerGrid Infrastructure Investment Trust (₹3,480 crore from 47 anchor investors in April 2021) and SBI Cards (₹2,769 crore from 74 anchor investors in February 2020).
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 informed the bourses late Friday.
The company allocated 8.6 crore shares at ₹291 per share.
The Government of Singapore Investment Corporate (GIC) and Monetary Authority of Singapore (MAS) together invested ₹401.5 crore in the anchor book. Marquee foreign portfolio investors such as Nomura Asset Management, Fidelity, Eastspring Investments, Goldman Sachs Asset Management and Amundi participated in the anchor book.
The marquee domestic investors included 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 among others.
Niche global investors including Thornburg Investment Management and RWC also participated, it added.
On Wednesday, Sona Comstar fixed a price band of ₹285–291 per share for its ₹5,500-crore IPO, which will open on June 14 and close on June 16.