Announced Thu, 3 Sept, 2026 · 18:10 IST
Postal ballot on EV business slump sale and DENSO joint venture
SONACOMS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-2.1%1-day move
₹803.30
prior close
₹800.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.1-0.3-0.3-0.1-2.1+0.1-0.5+0.0-1.9-4.4+0.6-0.8——
Up moveDown movePending
AI summary
Sona BLW seeks shareholder approval via postal ballot (e-voting Sep 4 to Oct 3, 2026) to transfer its 2W and 3W Electric Vehicle business to wholly-owned subsidiary Sona Comstar eDrive via slump sale for INR 8,932 million (INR 8,575 million cash plus balance in equity shares). Japan's DENSO will then take 49% in Sona eDrive at INR 17,500 million valuation, with Sona BLW retaining 51%. Deal also includes sublease of 5.13 acres in Tamil Nadu.
Likely market impact
Approval enables EV carve-out and DENSO JV formation, unlocking strategic value. Related parties barred from voting on this material transaction.