New Delhi: Car ingredient maker Sona BLW Precision Forgings (Sona Comstar) is established to launch its preliminary community offer you (IPO) on June fourteen for INR 5,550 crore. Sona Comstar has set the price band for the challenge at INR 285 to INR 291 for every share, the company mentioned in a media launch.
The bid/offer you period of time for the preliminary community offering of equity shares will open on Monday, June fourteen, 2021 and close on Wednesday, June sixteen, 2021, Sona Comstar mentioned.
The complete offer you measurement is up to INR 5,550 crore with a fresh new issuance of equity shares, aggregating up to INR 300 crore and an offer you for sale of equity shares aggregating up to INR 5,250 crore, by the marketing shareholder, namely, Singapore VII Topco III Pte. Ltd.
It intends to make the most of the proceeds from the fresh new challenge to repay/prepay somewhere around INR 241.twelve crore of its discovered borrowings, besides standard corporate uses, the company mentioned.
Sona Comstar, which submitted preliminary IPO papers in February, is a main supplier to the quick-expanding world electric car (EV) markets and derived 13.8{0764260a27b4b31ca71a8adf79c3ae299a61e6f062052eee3f0df84ce9b30ade} profits from the Battery EV market and 26.seven{0764260a27b4b31ca71a8adf79c3ae299a61e6f062052eee3f0df84ce9b30ade} from the Micro Hybrid / Hybrid market in FY21. Its world market share of Battery EV (BEV) differential assemblies in calendar year 2020 was 8.seven{0764260a27b4b31ca71a8adf79c3ae299a61e6f062052eee3f0df84ce9b30ade}.
The company claims to be amongst the major ten players globally in the differential bevel equipment market and in the starter motor market on the basis of respective volumes supplied to its close segments in calendar year 2020.
According to the Ricardo Report, it serves six of the major 10 world passenger car OEMs, 3 out of major 10 world CV OEMs and 7 out of major 8 world tractor OEMs by quantity. The company has nine plants spread throughout India, China, Mexico, and the United states. The company is one particular of India’s main automotive technology providers, building, manufacturing and giving really engineered, mission critical automotive programs and parts these kinds of as differential assemblies, differential gears, regular and micro-hybrid starter motors, BSG programs, EV traction motors (BLDC and PMSM) and motor regulate models to automotive OEMs globally.
According to the Crisil Report, Sona Comstar has the optimum running EBITDA margin, PAT margin, ROCE and ROE in FY20 as in comparison to major 10 mentioned car ingredient suppliers in India by market capitalization and has continually sent far more than 26{0764260a27b4b31ca71a8adf79c3ae299a61e6f062052eee3f0df84ce9b30ade} EBITDA margin and far more than 35{0764260a27b4b31ca71a8adf79c3ae299a61e6f062052eee3f0df84ce9b30ade} typical ROE each individual year over FY19-21. Its running income expansion over FY16-20 has exceeded the typical of the very same peer established.
This will be the most significant IPO by any car ingredient company in India so much, the company mentioned.
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