Blackstone completes Rs 4,044-cr Sona stake sale; GIC, SBI MF top buyers
时间:2024-06-28 23:50:25 阅读(143)
A clutch of institutional investors, including Singapore’s sovereign wealth fund GIC, acquired a 13.6% stake held by US private equity major Blackstone in Sona BLW Precision Forgings for about Rs 4,044 crore.
The buyers acquired the stake through a block deal on Thursday for Rs 509 a share, which was at a 5% discount to Wednesday’s closing price. Following the partial stake sale, the share prices in the automotive component manufacturer fell 6% on Thursday, and closed 4.03% lower at Rs 517.40.
Also Read| Blackstone likely to sell Sona BLW shares worth nearly Rs 4,000 crore
All the buyers were institutional shareholders, with a reputation of staying invested in companies. Blackstone was the lone seller as the promoters were not part of the block deal.
Following the deal, Blackstone would continue to hold a 20.5% stake in the firm. Prior to the stake sake, the US private equity firm held a 34.1% stake in Sona BLW.
For Blackstone, the stake sale was done at Internal Rate of Return (IRR, a metric used to estimate profitability of investments) of 15 times, sources added.
The PE firm had sold some stake at the time of Sona BLW’s (also known as Sona Comstar) initial public offering in June 2021, when the firm raised about Rs 5,550 crore. The IPO was a mix of fresh issue of shares and an offer for sale (OFS) by existing shareholders, including Blackstone’s affiliate Singapore VII Topco III Pte Ltd.
When contacted, Blackstone declined to comment on the deal. Nomura Holdings Indian arm was the sole agent to the deal.
上一篇:MCX gold prices trade near 20, 50 DMAs, range bound movement likely next week; support at Rs 50,000
下一篇:Zell Education introduces global career championship; a financial education scholarship
猜你喜欢
- Sebi mandates FPIs to carry 10 pc of corp bonds trades via RFQ platform
- Share Market Highlights- Nifty closes above 17660, Sensex gains 50 pts; Bank Nifty up 250 pts, Adani Ent FPO fully subscribed
- Share Market Highlights- Nifty closes 100 pts lower, Sensex settles near 65100; Adani Ports up 4
- Share Market Highlights- Nifty ends above 18750, Sensex above 63000 at record closing highs; Powell’s speech eyed
- Sebi initiates study of MFs’ fees, expenses
- Share Market Highlights- Sensex and Nifty ends at lower, Nifty Settles below 21,700, Sensex near 71,900- Pharma and Energy stocks shine
- SGX Nifty up, global cues, Aether Industries IPO, stocks under F&O ban; key things to watch on 25 May 2022
- Sebi introduces ASBA-like facility for secondary market trading
- Sebi allows mutual funds to float passively managed equity-linked savings schemes