Sona Comstar on September 4 announced floor price of Rs 699.01 per share for its Qualified Institutions Placement (QIP) of equity shares of face value Rs 10 each.
"The Company may at its discretion offer a discount of not more than 5 percent on the floor price so calculated for the Issue. The Issue Price will be determined by the Company in consultation with the book running lead managers appointed in relation to the Issue," said Sona Comstar in a stock exchange filing.
On September 4, Sona Comstar's shares on BSE closed 1.6 percent higher at Rs 722.4 apiece.
Earlier, CNBC-Awaaz reported, citing sources, that the auto component major is looking to raise Rs 2,000 crore through a QIP this month.
Response from funds and investors has been good for the QIP, the channel reported.
The company is likely to use the funds for ongoing capex, acquisitions.
The channel also reported that Sona Comstar is in talks with Escorts Kubota to buy its rail engineering division.
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