Sona BLW Precision Forgings saw a rise in its stock price, trading at Rs 710.50, marking an increase of 10.75 points or 1.54% from its previous close of Rs 699.75 on the BSE.

The stock opened at Rs 711.40, reaching a high of Rs 718.55 and a low of Rs 703.90 during the day. A total of 11,021 shares changed hands on the counter. The company's stock, with a face value of Rs 10, had previously touched a 52-week high of Rs 764.75 on July 15, 2024, and a 52-week low of Rs 489.00 on October 25, 2023. Over the last week, the stock hit a high of Rs 751.00 and a low of Rs 686.00, and the company's current market capitalization stands at Rs 41,038.41 crore.

Sona BLW Precision Forgings, also known as Sona Comstar, successfully raised Rs 2,400 crore through its Qualified Institutions Placement (QIP). The issue, which opened on September 4 and closed on September 9, 2024, received overwhelming interest from institutional investors, with over 5.5 times subscription, highlighting confidence in the company's growth strategies. The company issued 34,782,608 equity shares at Rs 690 each, including a premium of Rs 680 per share.

Prominent investors, including SBI Mutual Fund, ICICI Prudential Mutual Fund, Goldman Sachs Asset Management, and Fidelity International, participated in the QIP, signifying strong backing for the company’s future growth. The funds raised will be utilized to enhance Sona Comstar's capital structure and support its expansion plans.

Sona BLW Precision Forgings is a key player in India's automotive technology sector, specializing in the design and manufacturing of critical automotive components like differential assemblies, gears, and starter motors.