close
Business

Blackstone To Sell Up To Rs 3,972-Crore Stake In Sona BLW Precision


Blackstone Inc.’s unit Singapore VII Topco III Pte. plans to raise Rs 3,971.7 crore by selling up to 13.59% stake in Sona BLW Precision Forgings Ltd. via bulk deal.

The promoter group has offered to sell 6.35 crore shares or 10.87% stake in the company at a floor price of Rs 500 apiece, a 7.3% discount on Wednesday’s closing price, according to the terms of the deal reviewed by BQ Prime.

The offer also carries an upsize option of 1.58 crore shares, representing an additional 2.72%.

Blackstone, through its Singapore unit, held 34.12% stake in the auto component maker as on June 30, 2022.

Nomura is acting as a sole placement agent for the block deal.





Source link