Sona BLW Precision Forgings Limited (Sona Comstar) and Shyam Metalics and Energy Limited; listed on the bourses at Rs. 301 and Rs. 380 on NSE and Rs. 302.40 and Rs 367 on BSE, respectively. Both the stocks trade at 3.44% % and 24.18% over its issue price on NSE.
Shares of the Sona Comstar Precision Forgings at day end closed at Rs. 361.20 per share on NSE and Rs. 362.85 per share on BSE. The initial public offering was offered at a lower price band of Rs 285 per share and higher price band of Rs 291. While the scrip of Shyam Metalics at day end closed at Rs. 375.50 per share on NSE and Rs. 375.85 per share on BSE. The initial public offering was offered at a lower price band of Rs 303 per share and higher price band of Rs 306.
For Sona BLW Precision Forgings Limited as per NSE, the total quantity traded stood at 4.17 crore shares with a delivery quantity percentage of 44.64%. Quantity traded and delivery percentage at BSE was approx. 49.91 lac shares and 55.65% respectively. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1562.52 crore.
For Shyam Metalics and Energy Limited As per NSE, the total quantity traded stood at 2.54 crore shares with a delivery quantity percentage of 40.02%. Quantity traded and delivery percentage at BSE was approx. 19.70 lac shares and 36.28% respectively. Total Turnover (BSE+NSE) on Day 1 stood at Rs 1111.27 crore.
The Market Capitalization of the Sona BLW Precision Forgings Limited post today’s closing price stood at Rs. 21,06,8.43 crore as per NSE and Rs. 21,164.67 crores as per BSE and The Market Capitalization of the Shyam Metalics and Energy Limited post today’s closing price stood at Rs. 9578.27 crore as per NSE and Rs. 9587.21 crore as per BSE.
Sona Comstar IPO was of Rs. 5,550 crores total size, received bids of 24,44,26,93 shares against the offered 10,71,05,262 equity shares. The portion reserved for retail investors was subscribed 1.61 times. While the Qualified Institutional Buyer category was subscribed 3.54 times, the Non-Institutional Investor category was subscribed 0.40 times, overall subscribed 2.33 times.
Shyam Metalics and Energy Limited IPO was of Rs. 909 crores total size, received bids of2,56,09,43,610 shares against the offered 2,10,90,890 equity shares. The portion reserved for retail investors was subscribed 11.64 times. While the Qualified Institutional Buyer category was subscribed 155.71 times, the Non-Institutional Investor category was subscribed 339.98 times and Employee Reserved category was subscribed 1.55 times, overall subscribed 121.42 times.
Company Information of Sona Comstar
Sona Comstar, a Blackstone backed company, is primarily engaged in designing, manufacturing and supplying highly engineered, mission critical automotive systems and components to automotive OEMs. Sona Comstar is a leading supplier to the fast-growing global Electric Vehicle (EV) markets and derived 13.8% revenue from the Battery EV market and 26.7% from the Micro Hybrid / Hybrid market in FY21. Its global market share of BEV differential assemblies in calendar year 2020 was 8.7%. The company is among the top ten players globally in the differential bevel gear market and in the starter motor market on the basis of respective volumes supplied to its end segments in calendar year 2020 and has been gaining global market share across products. According to the Ricardo Report, it serves 6 of the top 10 global PV OEMs, 3 out of top 10 global CV OEMs and 7 out of top 8 global tractor OEMs by volumes. The company has strong R&D, engineering and technological capabilities in precision forging, mechanical and electrical systems, as well as base and application software development. It is diversified across geographies, products, vehicle segments and customers. According to the Crisil Report, the company has the highest operating EBITDA margin, PAT margin, ROCE and ROE in FY20 as compared to top 10 listed auto component manufacturers in India by market capitalization and has consistently delivered more than 26% EBITDA margin and more than 35% average ROE each year over FY19-21. Its operating income growth over FY16-20 has exceeded the average of the same peer set.
Company Information of Shyam Metalics and Energy Limited
The Group is a producer of intermediate and long steel products, such as, iron pellets, sponge iron, steel billets, TMT, structural products, wire rods, and ferro alloys products with a specific focus on high margin products, such as, customised billets and specialised ferro alloys for special steel applications. The Group is currently in the process of further diversifying its product portfolio by entering into the segments, such as, pig iron, ductile iron pipes and aluminium foil. The Group’s key strength lies in its integrated operations across the steel value chain and strategic locations of its manufacturing plants in Odisha and West Bengal which are well connected by railways, roadways and ports in the eastern region of India and are supported by infrastructure in terms of captive railway sidings and captive power plants.
The Group’s manufacturing plants at Sambalpur and Jamuria are forward and backward integrated, and the Group is present across steel value chain, offers a diversified product mix, and has strategic locational advantage. In the nine months ended December 31, 2020, power units produced from the Group’s captive power plants accounted for 79.58% of their total power units consumed. The Group has a wide distribution network partnered through 42 distributors across 13 states and one union territory in India, as of December 31, 2020. The Group’s domestic customers include Jindal Stainless Limited, Jindal Stainless (Hisar) Limited, and Rimjhim Ispat Limited and international customers include Norecom DMCC, Norecom Limited, POSCO International Corporation, World Metals & Alloys (FZC), Traxys North America LLC, JM Global Resources Limited, Goenka Steels Private Limited and Vijayshri Steel Private Limited.