Auto Component

Auto component maker Belrise Industries files for Rs 2,150 crore IPO

Automotive component maker Belrise Industries has filed preliminary papers with capital markets regulator Sebi to raise Rs 2,150 crore through an initial public offering (IPO). The IPO is entirely a fresh issue of equity shares with no offer for sale (OFS) component, according to the draft red herring prospectus (DRHP). The company may consider raising up to Rs 430 crore through a pre-IPO placement. If this is carried out, the issue size will be reduced. As per the draft papers filed on Tuesday, the company intends to utilise proceeds worth Rs 1,618 crore for payment of debt. The company has a borrowing of Rs 2,463 crore in its books as of June 2024. Belrise Industries is an automotive component manufacturing company based in India offering a diverse range of safety critical systems and other engineering solutions for two-wheelers, three-wheelers, four-wheelers, commercial vehicles and agri-vehicles. As of June 2024, it marketed its products both domestically and internationally,

This auto component maker's stock jumped 8%; what is boosting the rally?

The rise in Sterling Tools share price came after the company revealed that it has been awarded the long-term rating of [ICRA]AA- (Positive)

Sterling Tools hits new high; stock soars 60% in 3 weeks post Q1 earnings

The strategic alliance with Yongin Electronics, a supplier of components to the Hyundai Kia Motor Group, is projected to yield a substantial biz volume of Rs 250 crore over the next five years.

Govt extends PLI scheme for auto sector by a year with 'partial amendments'

The Ministry of Heavy Industries on Monday announced the extension of the Production Linked Incentive (PLI) Scheme for Automobile and Auto Components by one year with "partial amendments". This decision has been made after receiving the approval of the Empowered Group of Secretaries (EGoS). "In pursuance of the approval of EGoS, the Ministry of Heavy Industries has made partial amendments in the Production Linked Incentive (PLI) Scheme for the Automobile and Auto Component Industry and Guidelines of the Scheme. These amendments, effective from the date of publication in the Official Gazette, aim to provide clarity and flexibility to the scheme," an official statement said. Under the amended scheme, the incentive will be applicable for a total of five consecutive financial years, starting from the financial year 2023-24. The disbursement of the incentive will take place in the following financial year 2024-25. The scheme also specifies that an approved applicant will be eligible for

Auto component maker Happy Forgings to launch Rs 1,008 crore IPO on Dec 19

Auto components maker Happy Forgings Ltd on Thursday fixed a price band of Rs 808 to 850 per share for its Rs 1,008 crore-Initial Public Offering (IPO). The maiden public issue will open for subscription from December 1921, and the anchor book will be opened for a day on December 18. The IPO comprises a fresh issue of equity shares worth Rs 400 crore and an Offer For Sale (OFS) of up to 71.6 lakh shares by a promoter and a selling shareholder. Paritosh Kumar Garg (HUF) and India Business Excellence Fund III are the selling shareholders in the OFS. Proceeds from the fresh issue will be utilised towards the purchase of equipment, plants, and machinery, the payment of debt and a portion of the funds will also be used for general corporate purposes. Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors, and the remaining 15 per cent for non-institutional buyers. Investors can bid for a minimum of 17 equity shares and in multiple

Sundram Fasteners Q2 results: Net profit rises 14% rise to Rs 133 crore

The consolidated earnings per share for the quarter amounted to Rs 6.28, compared to Rs 5.49 in the corresponding period last year

Revving up: Outlook, opportunities for auto component SMEs in 2024

The replacement market is expected to modestly increase in 2024, following its improvement in 2023, driven by higher sales in FY19

$5 bn opportunity for auto parts industry in material circularity: Report

Business practice could increase companies' top line by 10-20 per cent, it says

New guidelines, higher M&HCV demand to drive gains for Bosch stock

Strong volume growth in its core segments of M&HCV/tractors should help keep the sales trajectory elevated

Bosch reports net profit flat at Rs 372.4 crore for September quarter

Auto component major Bosch on Tuesday reported a flat consolidated net profit of Rs 372.4 crore for the second quarter ended September 30. The company had posted a net profit of Rs 372 crore in the July-September quarter of the previous fiscal. Its revenue from operations rose to Rs 3,662 crore for the period under review compared to Rs 2,918 crore in the same period last fiscal. "The surge in demand on the back of the continued recovery of the automotive market has contributed to a strong performance this quarter. We have witnessed robust topline growth, posting consistent profits over a low base in the same quarter of the previous year," Bosch Ltd Managing Director Soumitra Bhattacharya stated. Although semiconductor supplies have eased out relatively, the supply chain ecosystem itself continues to remain fragile, he added. "Despite these uncertainties, including rising input costs, we expect to build on the strong performance of this quarter," Bhattacharya noted.

Blackstone sells 13.6% stake in auto component maker Sona BLW for Rs 4k cr

Private equity firm Blackstone on Thursday divested 13.6 per cent stake in auto component maker Sona BLW Precision Forgings Ltd for over Rs 4,000 crore through open market transactions. The shares were picked up by the Government of Singapore and SBI Mutual Fund among others, bulk deal data with the BSE showed. Blackstone, which holds a stake in Sona BLW through an entity called Singapore VII Topco III PTE. Ltd, offloaded a total of 7.94 crore shares or 13.6 per cent stake in the company, the data showed. The stocks were sold on an average price of Rs 509.10 on the BSE, a discount of 5.6 per cent from Wednesday's closing price of Rs 539.10. At this price, the transaction size is aggregated to Rs 4,044 crore. As of June quarter, Blackstone, which is one of the promoters of Sona BLW, owned 19.93 crore shares, amounting to 34.12 per cent stake in the company, shareholding pattern with the BSE showed. Following the transaction, Sona BLW share dropped 4 per cent to settle the trade at

Domestic auto components industry to see 15-17% revenue growth this fiscal

The industry may again see double-digit growth in FY23, given that the impact of the Omicron variant is limited

Piramal- Bain fund invests Rs 615 crore in auto component company

Setco Automotive will transfer its clutch business into a subsidiary, Setco Auto Systems into which IndiaRF will invest through a senior debt facility and 35 per cent equity stake in SASPL.

Indian auto parts makers' shares gain on report of talks with Tesla

Shares of Indian auto parts suppliers rose as much as 14% following a report that Tesla was in talks with at least three companies to source critical parts for its planned entry into the country

Auto-component units face 14-16% fall in revenue: CRISIL SME Tracker

Small and medium enterprises (SMEs), which make up a third of the sector, have been badly hit.

Auto component industry seeks long term roadmap for regulatory changes

The industry, which accounts for around 2.3 per cent of the country''s GDP, has been struggling of late due to a prolonged downturn in the auto industry as a whole and due to Covid-19 situation

Exports likely to improve in May, contraction expected to be 30-35%: Goyal

Addressing the Digital Summit on Exports organised by the Confederation of Indian Industry (CII), Goyal said he expects the fall in exports to narrow to 8-10 per cent in June.

Auto component industry turnover dips to Rs 1.79 trn in Apr-Sep 2019

On job losses, Jain said retrenchment has taken place from October last year till July 2019

Minda Industries form JV with Japan's Katolec for electronic products

JV plans to set up a facility in Pune to make products such as PCBs & box build assemblies

Bharat Forge acquires Walker Forge & PMT Holding for $ 14 mn

Walker Forge is a leading supplier of complex, steel and high-alloy steel, engine & chassis components to a diverse group of customers across automotive & industrial sectors