Private equity firm, Blackstone Group Inc, promoted automotive component manufacturer, Sona BLW Precision Forgings Limited on Tuesday received consent from capital markets regulator SEBI for the initial public offering through which it plans to raise ₹6,000 crore. “The public offer comprises of a fund raise via a fresh issuance of shares amounting to Rs. In FY 20, as compared to the top ten publicly listed auto component manufacturers in India by market capitalization, Sona BLW Precision Forgings has the highest operating EBITA margin, PAT margin, ROCE and ROE. Some of its key OEM customers include a global OEM of EVs, a North American OEM of Passenger Vehicles and Commercial Vehicles, Ashok Leyland, Daimler, Escorts, Mahindra & Mahindra, Mahindra Electric, Maruti Suzuki, Renault Nissan, Volvo and Volvo Eicher," the statement added. With automobile manufacturers expected to move towards development and manufacturing of electric vehicles in the coming years, component manufacturers like Sona BLW are expected to benefit from the move because of its existing investments in electric technology.

Source: Mint May 11, 2021 15:45 UTC