Sona BLW Precision announces launch of initial public offering
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09 Jun 2021
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Sona BLW Precision Forgings Ltd. has announced public offering of 190721651 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 281.00 per share. The gross proceeds of the issue are expected to be Rs 5,55,000.00 lakhs. The company's initial public offer (IPO) will open on 14 June 2021 and is expected to close on 16 June 2021, subject to customary closing conditions. The price band of the issue has been fixed at Rs 285.00-291.00 per share. The IPO includes a fresh Issue of 190721651 Equity Shares of the Company at an price of Rs 291.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 51 shares with bids in multiples of 51. Sona BLW Precision Forgings Ltd. anticipates using the proceeds of the issue for Repayment and prepayment of identified borrowings in full availed by the Company General corporate purposes. JP Morgan India Private Limited.,Credit Suisse Securities (India) Pvt. Ltd.,Kotak Mahindra Capital Company Ltd.,Nomura Financial Advisory & Securities (I) P Ltd.,JM Financial Ltd. as lead manager(s) & KFIN Technologies Pvt. Ltd. is the registrar, to the issue. |
| Source: Dion Global Type: IPO Related |
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