Sona Comstar subscribed 11%, Retail portion booked 52% on Day 1
Sona BLW Precision Forgings Limited (Sona Comstar), one of India’s leading automotive technology companies; received bids of 1,13,93,298 shares against the offered 10,71,05,262 equity shares, as per the 5:00 pm data available on the bourses.
The portion reserved for retail investors was subscribed 0.52 times. While the Qualified Institutional Buyer category was subscribed 0.02 times, the Non-Institutional Investor category was subscribed 0.01 times.
The total size of the offer is Rs. 5,250 crores at the upper price band of Rs. 291 per share.
The Company raised Rs. 2,498 crores through 42 anchor investors.
Government of Singapore Investment Corporate (GIC) and Monetary Authority of Singapore (MAS) together made a large investment of INR 401.5 crores in the anchor book.
Marquee foreign portfolio investors such as Nomura Asset Management, Fidelity, Eastspring Investments, Goldman Sachs Asset Management, Amundi participated significantly in the anchor book.
Marquee domestic investors include 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 amongst others.
Niche global investors with EV investing experience including Thornburg Investment Management and RWC also participated with keen interest.
Kotak Mahindra Capital Company Limited, Credit Suisse Securities (India) Private Limited, JM Financial Limited, J.P. Morgan India Private Limited and Nomura Financial Advisory and Securities (India) Private Limited are the Book Running Lead Managers (“BRLMs”) to the Offer.