After news of Blackstone's stake sale, Sona BLW share price plunges 6%; should you buy, hold, or sel

On Thursday, Sona BLW's share price plunged 6% to an intraday low of Rs 507 on the NSE. After it was revealed that Blackstone Inc. is attempting to raise Rs 3,180 crore through the sale of Sona Comstar shares, the share price fell.


On Thursday, Sona BLW's share price plunged 6% to an intraday low of Rs 507 on the NSE. Following news that Blackstone Inc. is attempting to raise Rs 3,180 crore through the sale of shares in automobile component manufacturer Sona Comstar, the share price has fallen. The shares of Sona BLW Precision Forgings Ltd., as it is officially named, are being offered by a subsidiary of the US company for Rs 500 each, which is 7.2% less than Wednesday's closing price. According to the rules, Blackstone may further boost the offered size to Rs 39.7 billion if there is sufficient investor demand.

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