The sale of shares in Sona Comstar is expected to raise as much as 31.8 billion rupees.
The shares in Sona BLW Precision Forgings are being offered at 500 rupee each by an American firm. Thursday's closing price is a 7.2% discount.
According to the terms, if there is enough investor demand, the deal size could be increased.
The placement agent of the deal is the Indian unit of the Japanese firm. The books are going to close. As of June, the entity owned 34.1% of Sona.
The initial public offering of Sona raised more than half a billion dollars for the company and its shareholders. 3 billion rupee sale of new shares was included in the IPO. The company's shares have gone up in value.
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