Sona Comstar to plug into investor fancy for EV segment at a stiff price
Sona has sizeable exposure to North America at 36% of FY21 revenues, followed by Europe and India
After a brief lull, India’s initial public offering (IPO) market is set for high action in mid-June. With the secondary equity markets defying the impact of the second covid-19 wave, bankers have decided that this is as good a time as any for companies to tap the primary markets. Among the first to ride the wave is auto component manufacturer Sona BLW Precision Forgings Ltd (Sona Comstar). What’s more, thanks to an exposure to the electric vehicle (EV) segment, which is currently highly popular among investors, the company is priced at over 10.5 times revenues.
Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!Let’s get started