Blackstone likely to sell Sona BLW shares worth nearly Rs 4,000 crore
时间:2024-06-26 09:53:55 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.
猜你喜欢
- Rupee likely to appreciate amid weakness in dollar, strong FII inflows; technical set-up for USDINR bearish
- Share Market Highlights- Nifty settles above 18300, Sensex up 180 pts; Bank Nifty above 43300, IndusInd Bank, HDFC Life gain
- FIIs continue withdrawal from Indian market, spark concerns of extended downturn
- Rupee likely to depreciate to 82
- Rupee drops alongside Asian peers, equity inflows keep losses in check
- Share Market Highlights- Nifty settles above 20050, Sensex above 67450; Bank Nifty adds over 350 points; PSU Bank and Media stocks surge
- Rupee gains 34 paise to close at 81
- Rupee likely to appreciate this week amid weak US dollar; optimistic global market sentiments
- Rupee likely to appreciate on weak dollar, rise in risk tolerance in markets; USDINR to trade in this range