On Thursday, Blackstone will sell the shares of Sona BLW Precision Forgings Ltd worth Rs 3,971.7 crore through a block trade. The auto manufacturer company’s shares will be sold at 7.24% to Rs 500 apiece to its last closing price of Rs 539 on the National Stock Exchange (NSE).

The selling price of 63.5 million shares will be a 10.87% stake in the firm for Rs 3,177.3 crore. Increasing the deal size of Blackstone will fetch it another Rs 794.3 crore. Nomura Financial Advisory and Securities (India) Pvt. Ltd is the sole broker for the trade.

After hitting a low in June, the Blackstone deal came back on the stock market. The returns have been delivered in the market at 17%, and also foreign investors are rushing back to the Indian market.

Sona BLW becomes traded immediately after KKR’s Rs 9,185 crore block trade for Max Healthcare, which will help the private equity firm to sell shares in the hospital chain. Also, the secondary trade follows the sale by Uber with a 7.78% stake in the food delivery platform in Zomato for Rs 3,088 crore.

On 30 June 2022, the shares of Blackstone, which was held in 34.12% in Sona BLW, During the IPO of the company, which was introduced last year in June, to sell a large chunk of its shareholding worth Rs 5,250 crore. Also, the initial public offer of Sona BLW sold its entire shares for Rs 291 per share.