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If you want to earn from stock market next week then you have great.
Sona Comstar IPO- If you want to earn from the stock market next week, then you have a great opportunity.
New Delhi. If you want to earn from the stock market next week, then you have a great opportunity. Where you can earn big money by investing money. The country’s largest auto parts manufacturing company Sona BLW Precision Forgings ie Sona Comstar IPO can launch an IPO next week to raise Rs 5500 crore. According to the news of Moneycontrol, the company is preparing to launch IPO on June 14.
Auto component company’s biggest IPO
Sources told Money Control that Sona Comstar has got approval from the Registrar of Companies (RoC) to launch an IPO next week and it may open for subscription on June 14. This IPO of Sona Comstar will be the largest public issue of any auto component making Indian company. However, no response has yet been received from Sona Comstar, Blackstone or its advisors in this matter. Sona Comstar was preparing to raise Rs 6000 crore before the primary market, but now the company will raise only Rs 5500 crore.
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For this IPO, the company will issue fresh shares of Rs 300 crore. Earlier the promoters and existing investors of the company were going to issue shares worth Rs 5700 crore through Offer for Sale (OFS), but now they will issue shares worth Rs 5200 crore only. As per the DRHP filed with SEBI, 75% of the shares in this IPO will be reserved for Qualified Institutional Buyers (QIPs). While 15% shares will be reserved for non-institutional investors and 10% for retail investors.
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Know what is the business of the company?
American private equity firm Blackstone holds 66% stake in Sona Comstar. While 34% stake in the company is owned by the company’s chairman Sanjay Kapoor. Let us tell you that Sona Comstar is the second investment company of American private equity giant Blackstone, which is coming with an IPO this year. Sona Comstar has appointed Credit Suisse, Nomura, JP Morgan, JM Financial and Kotak Mahindra Capital as its lead managers for this IPO. Blackstone acquired a minority stake in Comstar for Rs 1000 crore in the year 2018, then a year later in 2019, the US equity firm bought 33% stake in Sunjay Kapur’s company Sona BLW and merged it with auto parts maker Comstar Sona. Comstar launched,
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