iifl-logo-icon 1
IIFL

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

  • Open Demat with exclusive Advice & Services
  • Get a dedicated Relationship Manager to help you grow your wealth
  • Exclusive advisory on 20+ trading & wealth-based investment options
  • One tap Investments, Automated trading & much more
  • Minimum 1 lakh margin required
sidebar image

Blackstone sells remaining 20.50% stake in Sona BLW for Rs 4,917 crore

14 Mar 2023 , 03:30 PM

On Monday, American private equity firm Blackstone sold its remaining 20.50% stake in Sona BLW Precision Forgings to a group of investors for Rs 4,917 crore. On the BSE, shares were sold at an average price of Rs 410, a 6% discount from Friday’s closing price of Rs436. 

Sona BLW stock, which had dropped 34% in the previous year, ended 6.9% lower at Rs 406 on Monday.

According to bulk deal data on the BSE, the shares were purchased by the Government of Singapore, HDFC Mutual Fund, BNP Paribas Arbitrage, Societe Generale, Fidelity Series Emerging Markets Fund, Fidelity Asian Values Plc, ICICI Prudential Life Insurance, and the Monetary Authority of Singapore.

Blackstone sold 79.4 million shares, or 13.6% of the company, for Rs 4,044 crore in August. These shares were owned by a company called Singapore VII Topco III PTE.

Sona BLW issued its first public offering in June 2021 at an issue price of 291 to raise Rs5,550 crore. The IPO included a new issue of Rs300 crore shares and a Rs5,250 crore offer for sale by the Blackstone Group.

Following this development, Sona BLW’s stock on Tuesday were trading 4.17% higher at Rs423.15, against its previous close of Rs406.20 on NSE.

For feedback and suggestions, write to us at editorial@iifl.com

explored-media

Related Tags

  • Blackstone Stake
  • Block Deal Data
  • NSE Block deal
  • Sona BLW
  • Sona BLW Block Deal
  • Sona BLW Precision News
  • stake sale
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.