The Sona BLW Precision Ltd IPO or Sona Comstar had backed by private equity firm Blackstone Group, will open on 14 June. Price band for the issue has been fixed at Rs 285-291 per share. The issue will close on 16 June.

The firm will raise Rs 5,550 via IPO. It consists of a fresh issue of Rs 300 crore and an offer for sale of Rs 5,250 by Singapore VII Topco III Pte Ltd, an affiliate of Blackstone. As of December, Singapore VII Topco III Pte held a 66.28 per cent stake in Sona Comstar, while the rest 33.72 per cent was held by Sona Autocomp Holding Pvt Ltd, Kotak Mahindra Capital, Credit Suisse, JP Morgan India, JM Financial and Nomura are advising the company on the IPO. Sona Comstar will use the proceeds from the fresh issue to repay its Rs 225 crore debt, besides general corporate purposes.

Sona Comstar designs, manufactures and supplies highly-engineered, mission-critical automotive systems and components to auto original equipment manufacturers (OEMs) across the US, Europe, India and China, for both electrified and non-electrified powertrain segments.

The company has nine manufacturing and assembly units across India, China, Mexico and the US, of which six are in India. In FY20, it posted revenue of Rs 1,037.98 crore, up from Rs 699.22 crore a year-ago, and net profit of Rs 360.34 crore, rising from Rs 100.11 crore a year earlier.