Sona Comstar IPO: A well-crafted global auto play at rich valuations
Healthy interest of anchor investors could help the public flotation pick up speed
June 14, 2021 / 10:27 AM IST
On the eve of its initial public offering (the IPO hits equity markets on Monday), the Blackstone-backed Sona BLW Precision Forgings (Sona Comstar) has mopped up 45 per cent of the total issue size of Rs 5,500 crore through book building. With 42 investors subscribing, it has the country’s third largest IPO anchor book following Power Grid Infrastructure Investment Trust and SBI Cards earlier. The overwhelming response underscores the conviction of investors in the Indian auto component theme.