Last updated on June 16th, 2021 at 04:33 pm
Sona Comstar
Subscription Status of Sona Comstar
| Subscription Status [no. of times,(x)] | ||||
| Particulars | Shares Offered | 14th June | 15th June | 16th June |
| QIB | 5,84,21,052 | 0.02 | 0.14 | 3.46 |
| NII | 2,92,10,526 | 0.01 | 0.04 | 0.39 |
| Retail | 1,94,73,684 | 0.51 | 1.02 | 1.55 |
| Total | 10,71,05,262 | 0.11 | 0.27 | 2.28 |
Sona Comstar, an auto component manufacturer was incorporated in the year 1995 with its registered office in Haryana. The company is coming up with its IPO on 14th June 2021 with an offer size of Rs 5550 crore. The offer comprises of both a fresh issue and an offer for sale. Further offer details follow:
Offer Details of Sona BLW Precision Forgings Limited IPO
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| Offer Details | |
| Offer Size | Rs 5550 crore |
| of which | |
| Fresh Issue | Rs 300 crore |
| Offer for sale | Rs 5250 crore |
| Price Band | Rs 285-291 per share |
| Offer Period | June 14 – June 16, 2021 |
| Offer Structure | QIBs: upto 75% of the offer NIIs: upto 15% of the offer RIIs : upto 10% of the offer |
| Market Lot | Minimum (51 shares) Rs 14,841 Maximum ( shares) Rs 3,73,964 |
| Listing on | BSE, NSE |
| BRLM’s | Kotak Investment Banking, Credit Suisse, JM Financial, J.P. Morgan, Nomura |
| Registrar | Kfintech |
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Objects of the Offer
Fresh issue proceeds of Rs 300 crore would be utilized for
- Repayment and pre-payment of identified borrowings in full availed by the Company (Rs 241.12 crore)
- Corporate purposes.
Fundamental Analysis- Shyam Metalics IPO
Business Review of Sona Comstar
The Issuer is an automotive technology company, designing, manufacturing, and supplying highly engineered, mission-critical automotive systems and components such as differential assemblies, differential gears, conventional and micro-hybrid starter motors, BSG systems, EV traction motors (BLDC and PMSM), and motor control units to automotive OEMs across US, Europe, India, and China, for both electrified and nonelectrified powertrain segments.
Sona Comstar has nine manufacturing and assembly facilities, of which six are located in India and one each in China, Mexico, and USA, as well as eight warehouses across India, USA, Germany, and Belgium. Income from the sale of goods to the top ten customers accounted for 79.0%, 80.8%, and 79.6%, of total income for FY 19, Fy20 and FY21 respectively.
Some of the key OEM customers include a Global OEM of EVs, a North American OEM of PVs and CVs, Ampere Vehicles, an Indian OEM of PVs, CVs and EVs, Ashok Leyland, CNH, Daimler, Escorts, Escorts Kubota, Geely, Jaguar Land Rover, John Deere, Mahindra and Mahindra, Mahindra Electric, Maruti Suzuki, Renault Nissan, Revolt Intellicorp, TAFE, Volvo Cars and Volvo Eicher.
Key Financials
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| Financials and Ratios | Amount in INR Crores | ||
| FY 21 | FY 20 | FY 19 | |
| Total revenue | 1568.64 | 1043.77 | 702.5 |
| PAT | 215.17 | 360.34 | 173.18 |
| EBITDA | 443.35 | 320.90 | 376.65 |
| Total Assets | 2174.83 | 1850.68 | 1632.56 |
| EBITDA Margin | 20.39% | 17.34% | 23.07% |
| Net Margin | 9.89% | 19.47% | 10.61% |
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Valuation Parameters
| Valuation Parameters | P/E | NAV | P/BV | EPS |
| 77.39 | 22.75 | 12.79 | 3.76 |
Important Dates of Sona Comstar IPO
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| Important dates of Sona Comstar IPO | |
| Basis of allotment | June 21, 2021 |
| Refunds | June 22, 2021 |
| Credit to Demat account | June 23, 2021 |
| Listing date | June 24, 2021 |
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