Latest News | Sona BLW Shares Zoom Nearly 25 Pc at Close on Listing Day

New Delhi, Jun 24 (PTI) Shares of auto component maker Sona BLW Precision Forgings closed nearly 25 per cent higher on Thursday against its issue price of Rs 291.

The stock had a muted debut earlier in the day listing at Rs 302.40, registering a gain of 3.91 per cent from the issue price on the BSE. But as the trade progressed, it zoomed 24.69 per cent to Rs 362.85 --its upper circuit.

On the NSE, it listed at Rs 301, a gain of 3.43 per cent. It closed at Rs 361.20, a jump of 24.12 per cent.

In traded volume terms, 49.96 lakh shares were traded at the BSE and over 4.18 crore units at the NSE during the day.

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

The 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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)