InvestorQ : Can you tell me about the prosed IPO offering of Sona BLW Precision Forgings?
Dawn Cherian made post

Can you tell me about the prosed IPO offering of Sona BLW Precision Forgings?

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Mitali Bhutta answered.
1 week ago
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Sona BLW Precision Forgings is an auto ancillary manufacturer that is backed by the US based private equity giant, Blackstone. Sona BLW will launch its Rs.5,550 crore IPO in the coming week on 15 June while the anchor allotment will happen one day ahead of the issue opening for public subscription.

Blackstone currently holds 66.28% in Sona BLW. Hence, the issue will be predominantly an offer for sale or OFS. Sona Comstar will use the proceeds from the small fresh issue component to repay debt in its books and improve financial leverage. The surge in IPOs could be back after the SEBI opted to put off stringent merchant banker norms.
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