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IPO Radar: Sona Comstar, investors bet big on this Tesla supplier

Jun 13, 2021 12:02 IST | By Editorji News Desk

Focus on big IPOs this week, Sona Comstar in the spotlight after raising a whopping Rs 2498 cr from anchor investors. Is this supplier to Tesla a good investment for you here are the details you need to make a decision-:

About Sona Comstar

  • Gurugram-based automotive components manufacturer
  • PE giant Blackstone currently owns 65% stake 
  • Industry leader in highly specialised "mission-critical" auto components
  • Backed by Indian promoter group Sona Group, erstwhile owner of Sona Koya 
  • Headed by Chairman Sunjay Kapur, the Group merged with Chennai based Comstar in 2019

IPO Details 

  • Issue Dates: June 14-16
  • Issue Price: Rs 285-291 per equity share
  • Minimum Bid: 51 shares 
  • Maximum Bid: 14 lots of 51 shares 
  • Cost to Retail of 1 lot: Rs 14,841@ Rs 291/share
  • Issue Size: Looking to raise Rs 5,550 crore 


Financials In Focus 

  • Raised Rs 2,498 crore through anchor investors
  • Third largest anchor investment in an Indian IPO
  • Anchor investment from 42 institutional investors, including 24 foreign portfolio investors
  • Anchor investors issued 8.6 crore shares at Rs 291 per share.
  • Govt of Singapore, Fidelity, Goldman Sachs among anchor investors
  • Big bets on EV, 14% revenue from pure battery-electric vehicles (BEVs)
  • 27% revenue from hybrid and micro-hybrid vehicles

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