Inside the Sona Comstar IPO: how a bet on EVs, future-ready tech led to an INR16,700 crore valuation
Synopsis
With the INR5,550 crore IPO, Blackstone is selling half of its 66% stake at an 8.8x return. The consensus opinion is that the IPO is priced to perfection and factors in robust profitability and return ratios. What makes Sona Comstar stand out is its No. 3 customer, Tesla, according to sources, and the focus to be in sync with time.
The wait was long. As IPO of automotive technology major Sona BLW Precision Forgings, or Sona Comstar, opened for subscription on June 14, it marked a journey dotted with many ups and downs, multiple acquisitions, the faith in electric mobility, and solid returns for its existing investors. The INR5,550 crore IPO comprises a fresh issue of INR300 crore and an offer for sale of INR5,250 crore by Blackstone via Singapore VII Topco III. The price
- FONT SIZE
AbcSmall
AbcMedium
AbcLarge
Sign in to read the full article
You’ve got this Prime Story as a Free Gift
₹399/month
Monthly
PLAN
Billed Amount ₹399
₹208/month
(Save 49%)
Yearly
PLAN
Billed Amount ₹2,499
15
Days Trial
+Includes DocuBay and TimesPrime Membership.
₹150/month
(Save 63%)
2-Year
PLAN
Billed Amount ₹3,599
15
Days Trial
+Includes DocuBay and TimesPrime Membership.
Already a Member? Sign In now
Get Offer
Why ?
-
Exclusive Economic Times Stories, Editorials & Expert opinion across 20+ sectors
-
Stock analysis. Market Research. Industry Trends on 4000+ Stocks
-
Clean experience with
Minimal Ads -
Comment & Engage with ET Prime community -
Exclusive invites to Virtual Events with Industry Leaders -
A trusted team of Journalists & Analysts who can best filter signal from noise
For all the latest Automobiles News Click Here
For the latest news and updates, follow us on Google News.