Global automotive technology company Sona BLW Precision Forgings (Sona Comstar) has finalised the IPO share allocation on June 21. Investors can check their application status with two easy options.
In case one is checking on IPO registrar's website, one has to select 'Sona BLW Precision Forgings Limited' in the dropdown. Post which either select application number with application type (ASBA/NON ASBA) and enter application number, or select depository and enter DPID as well as Client ID, or enter PAN number. Finally enter Captcha available in digits and click on Submit.
The allotment can also be checked on the BSE website. Select Equity option and Issue Name - Sona BLW Precision Forgings - in the dropdown. Then one has to enter Application number and PAN number, and finally click on the Search button.
After providing abovementioned information, the number of shares subscribed for and number of shares allotted to gets displayed on the screen.
Ineligible investors will get refunds around June 22 and eligible investors will get shares credited to their demat accounts around June 23. Equity shares will start trading on the bourses from June 24.
Sona Comstar raised Rs 5,550-crore through its public issue during June 14-June 16 which was subscribed 2.28 times, the lowest subscription since Macrotech Developers' IPO.
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The net proceeds from fresh issue of Rs 300 crore will be utilised for repaying of debts, while offer for sale money will go to selling shareholder - Singapore VII Topco III Pte. Ltd, an affiliate of The Blackstone Group.
Sona Comstar earned 75 percent of business from overseas markets last year. The company supplies products across the countries such as India, US, Europe, and China, with thrust on the electric vehicle segment, through its nine manufacturing and assembly facilities across India, China, Mexico and the US, of which six are located in India.
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