Sona BLW has agreed to acquire Escort Kubota's 'Railway Equipment Division' company as a going concern on a slump sale basis.
The QIP proceeds will strengthen the company's capital structure to support its organic and inorganic growth goals.
Sona BLW Precision Forgings is an Indian-based worldwide automotive systems and components manufacturer with ten sites in India, China, Mexico, and the United States.
The fund raising committee (FRC) approved the QIP's opening on September 4, 2024, which is also the "relevant date" for the issue.
Here are some of the stocks that may see significant price movement today: Reliance Industries, Suzlon Energy, Century Textiles & Industries.
The company also stated that the cash will allow them to evaluate the best financing structure for growth ambitions.
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