Sona Comstar IPO: Price band fixed at Rs 285-291, Check GMP and more
Sona Comstar IPO, Sona Comstar Grey Markt, GMP: The initial public offer of Sona BLW Precision Forgings (Sona Comstar) is open for retail subscriptions. The public issue was subscribed 11 per cent on the first day on Monday (June 14). According to the BSE data, the auto component maker received bids for 1,13,93,298 shares against 10,71,05,262 shares on offer.
The IPO comprises a fresh issue of shares amounting to Rs 300 crore and an offer for sale (OFS) aggregating up to Rs 5,250 crore by selling shareholder Singapore VII Topco III Pte Ltd, an affiliate of the Blackstone Group Inc. The price band for the offer has been fixed at Rs 285-291 a share, which will conclude on June 16.
The portion meant for qualified institutional buyers (QIBs) was subscribed 2 per cent, non-institutional investors 1 per cent, and retail individual investors (RIIs) 51 per cent. Sona Comstar has garnered Rs 2,498 crore from anchor investors.
