Stocks

Sona BLW shares debut with nearly 4% premium

PTI New Delhi | Updated on June 24, 2021

The stock debuted at ₹302.40, registering a gain of 3.91 per cent from the issue price, on the BSE

Shares of auto component maker Sona BLW Precision Forgings listed with a premium of nearly 4 per cent on Thursday against its issue price of ₹291.

The stock debuted at ₹302.40, registering a gain of 3.91 per cent from the issue price on the BSE. As the trade progressed, it went to a high of ₹333.35, up 14.55 per cent.

On NSE, it listed at ₹301, a gain of 3.43 per cent.

Also read: India Pesticides raises Rs 240 crore from 12 anchor investors

The initial public offer of Sona BLW Precision Forgings (Sona Comstar) was subscribed 2.28 times last week.

Price range for the offer was fixed at ₹285-291 per share.

The company is into designing, manufacturing, and supplying highly engineered critical automotive systems and components such as differential assemblies, differential gears, conventional and micro-hybrid starter motors, BSG systems, EV traction motors, and motor control units.

It supplies components to automotive OEMs (original equipment manufacturers) across the US, Europe, India, and China, for both electrified and non-electrified power-train segments and is not dependent on a single product, vehicle segment, customer, or geography.

Published on June 24, 2021

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