InvestorQ : How was the IPO listing of Sona Comstar and Shyam Metalics on 24 June?
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How was the IPO listing of Sona Comstar and Shyam Metalics on 24 June?

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Rashi Mehra answered.
5 months ago
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Sona BLW Precision or Sona Comstar had a strong IPO listing on 24 June. Although the actual listing was tepid, the stock closed nearly 25% above its IPO price of Rs.291 with the last trade tick at a whopping Rs.363. Sona Comstar got a veritable boost from favourable market conditions and the likely growth potential in the electric vehicles segment.

Sona has long-standing relationships with Maruti, M&M, Volvo and Jaguar, which it now proposes to leverage in a more effective way. Sona was predominantly an OFS with a small fresh issue portion only. The other IPO listing of the day, Shyam Metalics also closed the first trading day at a premium of 30% to the IPO issue price. It looks like the enthusiasm around metals continues to remain robust.

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