Sona BLW Precision forgings ltd made a Steller debut on the Stock Exchange today. The stock is currently locked at an Upper Circuit of 20%. Shareholders got rewarded with a 25% gain in absolute terms, wherein stock is up Rs.71 from its issue price. This was the biggest ever IPO in the Auto component segment with an IPO size of Rs.5550Cr.The IPO was Oversubscribed 2.33times.
Incorporated in 1995, Company is one of India’s leading automotive technology companies. The big factor on which the analyst and even the company has been bullish is the - EV Opportunity for the company. The company provides a strong play on the upcoming mega opportunity of electrification. Commands 8.7% global market share in BEV differential assemblies as of FY21. Management is confident in the topline and bottom-line growth going forward owing to product and geographical expansion. The company expects to see the highest growth coming from the EV segment in times ahead. The company hopes the EV market to explode soon and have a first-mover advantage and that's powering the stock today.
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