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Sona Comstar IPO To Open On June 14 At Rs 285-291 Per Share


Sona Comstar IPO: The shares are more likely to be listed on BSE Sensex and NSE Nifty indices

Sona Comstar will launch an preliminary public provide (IPO) on June 14. The auto components agency’s public challenge will shut on June 16. The shares will likely be obtainable within the worth 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 challenge 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 challenge proceeds will likely be used for repaying money owed and normal company functions.

Candidates can place bids for a minimal 51 shares and in multiples of 51 shares thereafter, extending as much as 13 tons. The corporate has mounted the reserved portion for certified institutional patrons at 75 per cent, retail at 10 per cent and non-institutional traders at 15 per cent.

Sona Comstar designs, manufactures and provides mission essential automotive programs and elements to automotive OEMs throughout US, Europe, India and China. It has 9 manufacturing and meeting amenities throughout India, China, Mexico and USA.

Sunjay Kapur, Sona Autocomp and Singapore Topco are the promoters of Sona Comstar. Kotak Mahindra Capital Firm, Credit score Suisse Securities, JP Morgan India, JM Monetary and Nomura Monetary Advisory and Securities are the e book working lead managers to the difficulty.

In the meantime, the Rs 909 crore IPO of the Kolkata-based lengthy metal merchandise and ferro alloy firm Shyam Metalics’ may even open on June 14.

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