JM Financial to sell 32% stake in Sona BLW to private equity investors

In-house research and development has already come up with an electric axle and has showcased the device for three-wheelers

JM Financial is cashing out of automobile components giant Sona BLW Precision Forgings, by selling its 32 per cent stake to private equity (PE) investors at a profit. The deal is expected to be closed very soon. 

Sona BLW is the world’s largest manufacturer of differential gears, with a 11 per cent global share. And, it has prepared an aggressive strategy, including the doubling of market share.

It is looking to be list on the stock exchange within two years. 

The financial services company has been a more than decade-long investor in the Sona group.

The remaining portion of the shares are controlled by