Sona Comstar IPO
Blackstone-backed Sona Comstar readies to launch a Rs 6000 crore IPO. The company has filed papers with SEBI regarding the same. The issue size will comprise fresh equity shares worth Rs 300 crores and offer for sale shares aggregating up to Rs 5700 crore. Sona Constar operates in the auto component segment. When launched, the IPO will be the largest in the industry.
Sona Comstar IPO
Sona Comstar IPOIPO Date : To be updated
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Sona Comstar Information
Sona Comstar is a significant player in the auto component segment, supplying to the global EV market. It designs, manufactures, and supplies highly engineered, mission-critical components to auto OEM producers in the US, Europe, China, and India.
The company has nine manufacturing and assembly units - six in India and the others located in Mexico, the US, and China. Sona Comstar has a strong performance and financial track record. In FY20, it posted total revenue of Rs 1,037.98 crore, up from last year’s Rs 699.22 crores. Profit in the same period has also risen from Rs 100.11 crore last year to Rs 360.34 crore.
- According to the company website, it is one of the largest manufacturers of precision-forged gears catering to the global market
- It has six of the ten leading auto OEM producers on its client list
- The company enjoys long term business relations with Ford Motors, Daimler, Tata Motors, Ashok Layland, and more.
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In case you have not been allotted or for any partial allotment of IPO shares, the blocked amount, if any, will be unblocked/released on or before UPI mandate expiry date as mentioned in the above table. Please reach out to your bank in case funds are not unblocked/released post the mandate expiry date.
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