Blackstone sells 20.50% stake in Sona BLW Precision
Private equity firm Blackstone sold its 20.50 per cent stake in Sona BLW Precision Forgings, an auto component maker for Rs 4,917 crore through an open market transaction on Monday.
Private equity firm Blackstone sold its 20.50 per cent stake in Sona BLW Precision Forgings, an auto component maker for Rs 4,917 crore through an open market transaction on Monday. Blackstone, through its affiliate Singapore VII Topco III Pte Ltd offloaded the shares in Sona BLW. Singapore VII Topco III Pte is a promoter entity in Sona BLW.
Monetary Authority of Singapore, Government of Singapore, BNP Paribas Arbitrage, Fidelity Asian Values Plc, Societe Generale, among others were the buyers of the shares.
As per the bulk deal data available with the BSE, Singapore VII Topco III Pte offloaded 11,99,25,641 shares, amounting to 20.50 per cent stake in the company.
Click Here For Latest Updates On Stock Market | Zee Business Live
The shares were sold at an average price of Rs 410.04 apiece, taking the transaction value to Rs 4,917.43 crore.
As of December 2022, Singapore VII Topco III Pte owned 20.50 per cent stake in the company. On Monday, shares of Sona BLW Precision Forgings closed 6.93 per cent lower at Rs 405.80 apiece on the BSE.
(with PTI inputs)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
08:10 AM IST