Blackstone likely to sell Sona BLW shares worth nearly Rs 4,000 crore
时间:2024-06-26 15:09:04 阅读(143)
Blackstone Inc. is seeking to raise as much as 31.8 billion rupees ($400 million) through the sale of shares in Indian automotive component maker Sona Comstar, according to terms of the deal seen by Bloomberg News. An affiliate of the US firm is offering the shares in Sona BLW Precision Forgings Ltd., as it is formally known, at 500 rupees each, the terms show. That’s a 7.2% discount to Wednesday’s closing price.
If there’s enough investor demand, Blackstone could increase the deal size to 39.7 billion rupees, according to the terms.The Indian unit of Nomura Holdings Inc. is the sole placement agent of the deal. Books are set to close Thursday. The Blackstone-controlled entity held a 34.1% stake in Sona as of June, according to data compiled by Bloomberg.
Sona’s initial public offering in June last year raised about $776 million for the company and its shareholders, in a deal that saw more than twice as many subscriptions as there were available shares. The IPO included a sale of new shares worth 3 billion rupees, while Blackstone divested a portion of its stake. The company’s shares have rallied about 85% since their debut.
上一篇:Stocks may face selling pressure after lock-in expiry
下一篇:YearEnder2023- From Barbie to Koffee with Karan, a sneak peek into CGI ads rolled out this year
猜你喜欢
- Tracxn Technologies IPO opens, GMP nil; should you subscribe to Flipkart founders-backed issue-
- Start-up CEO kills her 4-year-old son at Goa apartment, arrested while fleeing with body in bag
- Thousands evacuated as devastating floods hit northeastern China – In pics
- Threat of terrorism thriving across the border; Northern Border remains Stable yet sensitive- Army Chief
- Titan share price rises over 4% despite Q3 EBITDA missing market estimates; should you buy, hold or sell-
- Tech to good health
- Trent Rating- hold; Topline growth is outstanding
- TVS Motor Company Rating- Neutral; Festive demand boosts retail sales
- Tracxn Technologies IPO subscribed 54 pc on Day 2