Sona Comstar IPO: The shares are prone to be listed on the bourses on June 24
Sona Comstar’s Rs 5,550-crore preliminary public providing (IPO) opens for bidding right this moment i.e. June 14. The auto components firm’s public problem will shut on June 16. The firm has fastened the worth band of the first market sale at Rs 285-291 per share. The shares are prone to be listed on the BSE Sensex and NSE Nifty on June 24.
Sona Comstar’s supply will encompass a recent problem of Rs 300 crore and a proposal on the market of as much as Rs 5,250 crore by Singapore VII Topco III Pte Ltd.
Retal traders can bid for a minimal one lot of 51 shares and in multiples of 51 shares thereafter, extending as much as 13 tons. The reserved portion for certified institutional patrons has been fastened at 75 per cent, retail traders at 10 per cent and non-institutional traders at 15 per cent.
The firm will use the IPO proceeds to repay money owed and for common company functions.
Promoted by Sunjay Kapur, Sona Autocomp and Singapore Topco, Sona Comstar designs and manufactures mission crucial automotive methods and parts. It has 9 manufacturing and meeting services located in India, China, Mexico and USA.
Kotak Mahindra Capital Company, Credit Suisse Securities, JP Morgan India, JM Financial and Nomura Financial Advisory and Securities are the e-book working lead managers to the difficulty.
Meanwhile, Shyam Metalics’ IPO has additionally opened for subscription right this moment, i.e. June 14.
