Sona BLW shares debut with nearly 4 pc premium

Shares of auto component maker Sona BLW Precision Forgings listed with a premium of nearly 4 per cent on Thursday against its issue price of Rs 291.

The stock debuted at Rs 302.40, registering a gain of 3.91 per cent from the issue price on BSE. As the trade progressed, it went to a high of Rs 333.35, up 14.55 per cent.

On NSE, it listed at Rs 301, a gain of 3.43 per cent.

The initial public offer of Sona BLW Precision Forgings (Sona Comstar) was subscribed 2.28 times last week.

Price range for the offer was fixed at Rs 285-291 per share.

The company is into designing, manufacturing, and supplying highly engineered critical automotive systems and components such as differential assemblies, differential gears, conventional and micro-hybrid starter motors, BSG systems, EV traction motors, and motor control units.

It supplies components to automotive OEMs (original equipment manufacturers) across the US, Europe, India, and China, for both electrified and non-electrified powertrain segments and is not dependent on a single product, vehicle segment, customer, or geography.

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