Blackstone exits Sona BLW Precision; stock gains – CLSA cuts target but bullish on growth
Sona Comstar share price gained a day after private equity firm Blackstone on Monday sold its 20.50 per cent stake in an auto parts maker for Rs 4,917 crore through an open market transaction. The private equity firm, through its affiliate Singapore VII Topco III Pte Ltd, offloaded almost 12 crore Sona BLW shares at an average price of Rs 410.04 apiece.
Sona Comstar shares have lost about 30 per cent of their value in the past one year. Image: Pixabay