Blackstone to sell entire 20.5% stake in Sona BLW: Report

Blackstone, one of the promoters of Sona BLW, held 11,99,25,641 shares as of the December 2022 quarter, which is equivalent to 20.50% stake in the company, according to BSE shareholding data. With its initial public offering (IPO) in June 2021, gold raised BLW 5,550 crores. Blackstone Group Inc. Singapore VII Topco III Pte Ltd, a subsidiary of 5,250 crore through fresh issue of equity shares up to 300 million.

Sona BLW Precision Forgings, a maker of automotive components, reported a 24% rise in its consolidated net profit for the third quarter ended December 31, 2022. As against a net profit of 107 crores 86 crore in the October-December quarter of the last financial year. According to the company, revenue from operations increased 675 crores during Q3FY23 against 486 crore during Q3FY22.

Sona BLW Precision Forgings shares closed on NSE on Friday 436.90 each level, down 2.15% from the previous close 446.50. The stock recorded a total volume of 12,05,611 shares as compared to 20-day average volume of 6,49,826 shares. The stock has fallen 28.72% in last 1 year and gained 4.22% in 2023 so far on YTD basis. The stock has touched a 52-week high at 706.60 (21-Mar-2022) and 52-week low 398.05 at (26-Dec-2022).

During Q3FY23, the company registered promoter shareholding of 53.53%, FII holding of 11.27%, DII holding of 24.37% and public holding of 10.83%. According to Trendline data, promoters’ holding in Sona BLW Precision Forgings declined from 53.59% in the Sep’22 quarter to 53.53% in the Dec’22 quarter, while FII/FPI’s stake declined from 11.56% to 11.27%, Mutual Fund The holding increased to 53.53% from the 2022 quarter. 21.03% to 21.78%, and institutional investors’ holding decreased from 36.08% in Q2FY23 to 35.64% in Q3FY23.