Sona BLW Precision Forgings (Sona Comstar) is an Indian automotive technology company that manufactures and supplies a range of products, including axles, differentials, and wheel hubs. The company is headquartered in Gurgaon, India, and has a presence in over 50 countries.
Aureus Investment Private Ltd is a promoter entity of Sona Comstar. The company holds a 33% stake in Sona Comstar.
The block deal, which is scheduled for Wednesday, May 31, is expected to see Aureus Investment Private Ltd sell up to a 3.25% stake in Sona Comstar. The base size of the block deal is expected to be around Rs 600 crore. However, with the inclusion of a green shoe option, the total value of the transaction could go up to Rs 950 crore.
The deal reflects the dynamic nature of the automotive technology industry. The automotive industry is undergoing a major transformation, with the rise of electric vehicles and self-driving cars. This transformation is creating new opportunities for companies like Sona Comstar, which are able to provide innovative products and services.
The resulting ownership changes could influence Sona Comstar’s strategic direction in the future. The company may look to expand into new markets or invest in new technologies. The deal has heightened interest among industry watchers and investors alike, who will be keen to see the effects of this significant financial transaction.