Sona Comstar to plug into investor fancy for EV segment at a stiff price - News Summed Up

Sona Comstar to plug into investor fancy for EV segment at a stiff price


After a brief lull, India’s initial public offering (IPO) market is set for high action in mid-June. Among the first to ride the wave is auto component manufacturer Sona BLW Precision Forgings Ltd (Sona Comstar). What’s more, thanks to an exposure to the electric vehicle (EV) segment, which is currently highly popular among investors, the company is priced at over 10.5 times revenues. The upper end of the IPO price band is ₹291, more than nine times the average acquisition price of Blackstone about two years ago. Some analysts are also worried that while the electric vehicle segment holds promise, competition is also high.


Source: Mint June 13, 2021 16:30 UTC



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