American private equity firm Blackstone is likely to sell a 13.6 percent stake in automotive technology firm Sona BLW Precision Forgings (Sona Comstar) via a block deal on August 18.

#Blackstone likely to sell shares worth ₹4000 cr (13.6% eq) of Sona BLW tomorrow. Sona BLW block deal tomorrow at ₹500/sh, 7% discount to CMP, say sources

Alert: Blackstone currently holds 34.12% stake in Sona BLW pic.twitter.com/vQFYGsWTkR

The floor price has been fixed at Rs 500 per share, at a 7 percent discount from the current market price (CMP).

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The company is into designing, manufacturing and supplying highly engineered critical automotive systems and components such as differential assemblies, differential gears, conventional and micro-hybrid starter motors, BSG systems, EV traction motors and motor control units.

It supplies components to automotive original equipment manufacturers (OEMs) across the US, Europe, India and China, for both electrified and non-electrified powertrain segments and is not dependent on a single product, vehicle segment, customer or geography.

The company is also one of the two largest exporters of starter motors from the country besides being the largest manufacturer of differential gears for passenger vehicles, commercial vehicles and tractors in India.

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Some of its key OEM customers include a global OEM of EVs, a North American passenger vehicle and commercial vehicles maker, Ashok Leyland, Daimler, Escorts, Mahindra and Mahindra, Mahindra Electric, Maruti Suzuki, Renault Nissan, Volvo and Volvo Eicher.

Shares of Sona BLW Precision Forgings ended at Rs 539.10, down by Rs 31.10, or 5.45 percent on the BSE.