Shares of Sona BLW Precision Forgings (Sona Comstar) fell more than 6% on Thursday after 10.2 crore shares (representing a 17.4% stake worth Rs 5,200 crore) changed hands at Rs 510 each.

This is a more than 5% discount from the previous closing price of Rs 539.10.

Media reported that US-based private equity firm Blackstone could sell a 13.6% stake in the auto technology company in a block deal on Thursday. Shares in the company were trading 4.8% lower at Rs 512.8 on the BSE at 9.25 am. The stock has been falling for the past two days when it fell more than 10%.

The floor price for the share sale has been fixed at Rs 500 per share, which means a 7% discount from the current market price. Blackstone currently holds a 34.12% stake in Sona BLW.

Blackstone may sell up to 13.6% of Sona BLW in a block deal.

Originating in India, Sona Comstar is a global automotive systems and components manufacturer with nine factories in India, China, Mexico and the US. The company has a considerable presence in the electric vehicle (EV) space and has been increasing its foundation.