Sona Comstar and Shyam Metalics to debut in D-Street on June 24, Auto News, ET Auto
New Delhi: Auto component maker Sona BLW Precision Forgings and integrated metals production company Shyam Metalics and Energy, which recently completed their IPOs, will debut on June 24, bankers of business. The shares of these companies will be listed on the BSE and the National Stock Exchange (NSE).
Sona BLW Precision Forgings (Sona Comstar) managed to raise Rs 5,550 crore through its IPO, which included Rs 2,498 crore which was raised from key investors. Shyam Metalics has raised Rs 909 crore from its public offering including Rs 270 crore from anchor investors.
The IPO of Rs 5,550 crore of Sona Comstar, which was open for subscription from June 14 to 16, was subscribed 2.33 times at a price range of Rs 285 to 291 per share.
The part intended for qualified institutional buyers (QIB) was subscribed 3.54 times, retail investors (RII) 1.61 times and non-institutional investors 40%.
The IPO included a new issue of shares in the amount of Rs 300 crore and an offer to sell totaling up to Rs 5,250 crore by the selling shareholder Singapore VII Topco III Pte Ltd, a subsidiary of Blackstone Group Inc.
The Blackstone-backed company designs, manufactures and supplies high-tech critical automotive systems and components such as differential assemblies, differential gears, conventional and micro-hybrid starters, BSG systems, EV traction motors and units motor control.
The initial sale of shares of Rs 990 crore of Shyam Metalics was subscribed over 121 times at a price range of Rs 303 to 306 each. The initial public offering was opened for public subscription on June 16 and concluded on June 16.
The category reserved for QIBs was subscribed 156 times, non-institutional investors 340 times and the part reserved for retail investors was subscribed 11.62 times.
The IPO included a new issue of shares worth up to Rs 657 crore and an offer to sell up to Rs 252 crore by existing shareholders.
The Kolkata-based long steel products and ferroalloys company sells intermediate and end products throughout the steel value chain to institutional customers and end users through 42 distributors, brokers in 13 states and a Union territory.
It currently operates three manufacturing plants located in Sambalpur in Odisha and Jamuria and Mangalpur in West Bengal.