Bookbuilding IPO | ₹52 Cr | Listed at NSE SME | Tue, Mar 5, 2024 - Thu, Mar 7, 2024
Sona Machinery IPO is a book build issue of ₹51.82 crores. The issue is entirely a fresh issue of 0.36 crore shares of ₹51.82 crore.
Sona Machinery IPO bidding started from Mar 5, 2024 and ended on Mar 7, 2024. The allotment for Sona Machinery IPO was finalized on Mar 11, 2024. The shares got listed on NSE SME on Mar 13, 2024.
Sona Machinery IPO price band is set at ₹143 per share. The lot size for an application is 1,000. The minimum amount of investment required by an retail is ₹1,43,000 (1000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (2,000 shares), amounting to ₹2,86,000.
Hem Securities Ltd. is the book running lead manager and Maashitla Securities Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Hem Finlease Pvt.Ltd..
Refer to Sona Machinery IPO RHP for detailed Information.
IPO Open
Tue, Mar 5, 2024
IPO Close
Thu, Mar 7, 2024
Issue Price
₹143 per share
Market Cap (Pre-IPO)
₹196.25 Cr
| IPO Date | 5 to 7 Mar, 2024 |
| Listed on | Wed, Mar 13, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹136 to ₹143 |
| Issue Price | ₹143 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 36,24,000 shares (agg. up to ₹52 Cr) |
| Reserved for Market Maker | 1,82,000 shares Hem Finlease Pvt.Ltd. (agg. up to ₹3 Cr) |
| Fresh Issue (Ex Market Maker) | 34,42,000 shares (agg. up to ₹49 Cr) |
| Net Offered to Public | 34,42,000 shares (agg. up to ₹49 Cr) |
| Share Holding Pre Issue | 1,01,00,000 shares |
| Share Holding Post Issue | 1,37,24,000 shares |
| NSE Symbol | SONAMAC |
| ISIN | INE0Q6H01012 |
Sona Machinery IPO comprises a total issue size of 36,24,000 shares. The net offer to the public is 34,42,000 shares, after excluding 1,82,000 shares allotted on a firm basis. Of the Net offer 17,20,000 (49.97%) are allocated to QIB, 5,17,000 (15.02%) allocated to NII 12,05,000 (35.01%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 17,20,000 | 49.97% | 47.46% |
| − Anchor Investor Shares Offered | 10,32,000 | 28.48% | |
| − QIB (Ex. Anchor) Shares Offered | 6,88,000 | 18.98% | |
| NII (HNI) Shares Offered | 5,17,000 | 15.02% | 14.27% |
| Retail Shares Offered | 12,05,000 | 35.01% | 33.25% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,82,000 | 5.02% | |
| Total Shares Offered | 36,24,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,000 | ₹1,43,000 |
| Retail (Max) | 1 | 1,000 | ₹1,43,000 |
| HNI (Min) | 2 | 2,000 | ₹2,86,000 |
Sona Machinery IPO raises ₹14.76 crore from anchor investors. Sona Machinery IPO Anchor bid date is March 4, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Mar 4, 2024 |
| Shares Offered | 10,32,000 |
| Anchor Portion (₹ Cr.) | 14.76 |
| Anchor lock-in period end date for 50% shares (30 Days) | Wed, Apr 10, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Sun, Jun 9, 2024 |
Founded in 2019, Sona Machinery Limited produces agricultural machinery for processing rice, pulses, wheat, spices, and Barnyard Millet.
The company manufactures Grains Pre-Cleaner machines, Rotary Drum Cleaner, Vibro Classifiers, Stone Separator Machines, Paddy De-Husker, Husk Aspirator, Rice Thick/Thin Grader, Rice Whitener, Silky Polisher, Multi Grader, Length Grader, Belt Conveyer, Bucket Elevator etc.
The company exports its products to Nigeria, Bangladesh, Kenya and Nepal.
The company has been accredited with ISO 9001:2015 for Quality Management Systems by Das System & Services Pvt Ltd.
Sona Machinery's service offering includes engineering, installation, supervision and machine commissioning, providing a complete solution for the milling sector, ranging from grain unloading and milling to pre-crushing for ethanol distilleries and from paddy unloading to rice packing for the rice milling industry.
The company's manufacturing facility is located in Ghaziabad, Uttar Pradesh, with a total area of approximately 52,205 sq. ft. and a warehouse for storing material and finished goods.
As of September 30, 2023, the company employed over 390 employees, including semi-skilled workers at various levels of the organization.
| Period Ended | 30 Nov 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 42.11 | 28.58 | 15.17 | 7.32 |
| Total Income | 62.88 | 81.18 | 44.53 | 6.06 |
| Profit After Tax | 6.48 | 7.68 | 3.26 | 0.28 |
| NET Worth | 17.80 | 11.32 | 3.64 | 0.38 |
| Reserves and Surplus | 7.70 | 11.22 | 3.54 | 0.28 |
| Total Borrowing | 1.13 | 2.53 | 2.37 | |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding the Capital Expenditure requirements of our company towards setting up of a new manufacturing unit at Ghaziabad | 28.91 |
| 2 | Repayment of the outstanding amount of the Letter of Credit availed by our company for purchase of machinery | 2.01 |
| 3 | General Corporate Purpose | 12.63 |
| KPI | Nov 30, 2023 |
|---|---|
| ROE | 44.49% |
| ROCE | 46.61% |
| Debt/Equity | 0.06 |
| RoNW | 36.39% |
| PAT Margin | 10.32% |
| Price to Book Value | 8.11 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 7.61 | 7.08 |
| P/E (x) | 18.8 | 20.2 |
| Promoter Holding | 100.00% | 73.59% |
| Market Cap | ₹196.25 Cr. |
The Sona Machinery IPO is subscribed 273.5 times on March 7, 2024 6:21:00 PM (Day 3). The public issue subscribed 235.06 times in the retail category, 129.72 times in the QIB category, and 554.42 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 129.72 | 6,88,000 | 8,92,49,000 |
| NII* | 554.42 | 5,17,000 | 28,66,34,000 |
| Retail | 235.06 | 12,05,000 | 28,32,45,000 |
| Total | 273.5 | 24,10,000 | 65,91,28,000 |
Total Application : 2,83,245
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manger Fees | 2.07 |
| 2 | Underwriting Commission | 1.04 |
| 3 | Fees Payable to Registrar to the Issue | 0.02 |
| 4 | Fees Payable for Advertising and Publishing Expenses | 0.14 |
| 5 | Fees Payable to Regulators including Stock Exchanges | 0.11 |
| 6 | Payment for Printing & Stationery, Postage, etc. | 0.02 |
| 7 | Fees Payable to StatutoryAuditor, Legal Advisors and other Professionals | 0.10 |
| 8 | Others (Commission/processing fee for SCSBs, Marketing, Sponsor Bank and Banker(s) to the Issue and brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs and Miscellaneous Expenses) | 4.77 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹143.00 |
| Open | ₹125.00 |
| Low | ₹118.75 |
| High | ₹131.25 |
| Last Trade | ₹131.25 |
Lead Manager Reports
Sona Machinery IPO is a SME IPO of 36,24,000 equity shares of the face value of ₹10 aggregating up to ₹52 Crores. The issue is priced at ₹143 per share. The minimum order quantity is 1000.
The IPO opens on Tue, Mar 5, 2024, and closes on Thu, Mar 7, 2024.
Maashitla Securities Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Sona Machinery IPO using UPI as a payment gateway. Zerodha customers can apply in Sona Machinery IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Sona Machinery IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Sona Machinery IPO opens on Tue, Mar 5, 2024 and closes on Thu, Mar 7, 2024.
Sona Machinery IPO lot size is 1000, and the minimum amount required for application is ₹1,43,000.
You can apply in Sona Machinery IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Sona Machinery IPO will be done on Monday, March 11, 2024, and the allotted shares will be credited to your demat account by Tue, Mar 12, 2024. Check the Sona Machinery IPO allotment status.
The Sona Machinery IPO listing date is on Wed, Mar 13, 2024.
