Blackstone offloaded its entire stake from this Indian Auto Ancillaries company !

Shares of the company has surged by more than 6 per cent today

After an open market transaction, private equity company Blackstone sold its 20.50 percent share in Sona BLW Precision Forgings for Rs 4,917 crore. Shares in Sona BLW were sold by Blackstone through its subsidiary Singapore VII Topco III Pte. Singapore VII Topco III Pte is a promoter organisation in Sona BLW Precision Forgings.  

A 20.50 percent investment in the firm was sold by Singapore VII Topco III Pte, according to bulk deal data made accessible by the BSE. The average price at which the shares were sold brought the transaction value to Rs 4,917.43 crore. Among the buyers of the shares were the Monetary Authority of Singapore, the Government of Singapore, BNP Paribas Arbitrage, Fidelity Asian Values Plc and Societe Generale.  

Scrip opened today at Rs 415.10 and touched its day’s high at Rs 436.25 after the surge. Its 52-week high stood at Rs 706.75 whereas the 52-week low was Rs 397.35. Promoters hold 53.53 per cent, whereas institutional and non-institutional holdings are 35.64 per cent and 10.83 per cent, respectively. Presently, the market cap of the company is Rs 25,233.86 crore.      

One of India's top automotive technology firms, Sona BLW Precision Forgings designs, manufactures and supplies highly engineered, essential automotive systems and parts to automakers in the US, Europe, India and China for both electrified and conventional powertrain systems. Examples of these parts include differential assemblies, differential gears, conventional and micro-hybrid starter motors, BSG systems and EV traction motors (BLDC and PMSM). One of India's top providers of automotive technologies, its main business is the development, production and distribution of premium, mission-critical automobile parts such differential assemblies, gears, conventional and micro-hybrid starter motors, etc.