JM Financial Institutional Securities Limited (JM Financial) has made a block sale of shares of Sona BLW Precision Forgings Limited (Sona Forgings), resulting in exit of Blackstone Group from Sona Forgings, for a reported aggregate value of approximately ₹4,917 crores.

As a part of the transaction, JM Financial acted as the sole broker in the block trade involving sale of 11,99,25,641 equity shares of Sona Forgings by Singapore VII Topco III Pte. Limited (a Blackstone entity). The transaction involved sale of entire stake held by Blackstone Group (20.5%) in Sona Forgings.

The Capital Markets Practice of Cyril Amarchand Mangaldas advised JM Financial on the transaction.

The transaction team was led by Abhinav Kumar (Partner & Regional Head Markets Practice (West)); with support from Anuj Pethia (Consultant) and Vartika Bhatnagar (Associate).

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