Sona BLW Precision Forgings IPO
Sona BLW Precision Forgings Limited (SONACOMS) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 24 June 2021.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain -0.2% (likely range -8% to +2%), day's high +3.0%, chance of a gain 33%. Actual: +3.4% at the open, +24.1% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 5,84,21,052 | 20,24,03,700 | 3.46x | |
| NII (HNI) total | 2,92,10,526 | 1,13,11,596 | 0.39x | |
| Retail | 1,94,73,684 | 3,05,86,842 | 1.57x | |
| Total | 10,71,05,262 | 24,43,02,138 | 2.28x |
Bids on NSE and BSE together, as published by NSE, as of 16 Jun 2021, 04:45 PM. Shares offered exclude the anchor portion. 10% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Sona BLW Precision Forgings's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| UTI Asset Management CompanyOct 2020 | 3.34x | 0.93x | 2.32x | 2.31x | ₹2,160 Cr | -9.8% | -4.3% |
| ICICI Lombard General Insurance CompanySep 2017 | 8.17x | 0.83x | 1.23x | 2.98x | ₹5,701 Cr | -1.5% | +5.0% |
| Indian Energy ExchangeOct 2017 | 2.56x | 0.85x | 2.61x | 2.28x | ₹1,426 Cr | -9.1% | +0.6% |
| Eris LifesciencesJun 2017 | 4.68x | 0.45x | 3.51x | 3.29x | ₹1,741 Cr | +1.3% | +4.2% |
| Gland PharmaNov 2020 | 6.40x | 0.51x | 0.24x | 2.06x | ₹6,480 Cr | +14.0% | +23.3% |
| General Insurance Corporation Of IndiaOct 2017 | 2.25x | 0.22x | 0.63x | 1.38x | ₹19,892 Cr | -6.8% | -1.4% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Kotak Mahindra Capital Company | 83 | +20.8% | 76% |
| J.P. Morgan India | 27 | +17.4% | 74% |
| Credit Suisse Securities (India) | 11 | +15.6% | 82% |
| JM Financial | 109 | +22.8% | 75% |
| Nomura Financial Advsiory and Securities (India) | 27 | +16.0% | 56% |
Offer documents (NSE)
Frequently asked
What is the Sona BLW Precision Forgings IPO price band and lot size? ₹285–291 per share, with a lot of 51 shares, so the smallest retail bid is ₹14,841.
How many times has it been subscribed? 2.28x overall: QIB 3.46x, NII 0.39x, retail 1.57x.
How did it list? It opened at ₹301, +3.4% against the issue price of ₹291, and closed its first day +24.1%.
