Sona Machinery IPO GMP, Schedule, Reservation and Lot Size

Sona Machinery has announced its IPO. The company calls for investors on 5 March 2024. Investors looking to invest in this agro-processing equipment manufacturing company can get all the details related to its IPO from here.

Sona Machinery IPO GMP

Sona Machinery’s IPO announcement has brought a brilliant opportunity for investors to invest in the company. The IPO is due to start from 5 March 2024 to 7 March 2024. 

The IPO GMP of Sona Machinery SME IPO is still early to determine, so we can’t tell you about its grey market premium price. The GMP update will usually get updated when the IPO is open for subscription.

Sona Machinery was founded in 2001 and manufactures equipment and machinery for the agricultural sector. 

The company makes agriculture equipment and machines like Vibro Classifiers, Husk Aspirators, Grains Pre-Cleaner Machines, Multi-Grader, Paddy De-Husker, Stone Separator Machines, Rice Whitener, and many more.

They offer services like machine commissioning, installation, and supervision, deliver a comprehensive end-to-end solution for the milling section, and complete projects for ethanol distilleries and rice mills.

The company has a PAN India sales and support network to deliver the best assistance to its customers. They have covered international markets, making it a great investment for investors in the upcoming IPO.

Sona Machinery IPO Schedule

The Sona Machinery IPO is scheduled to open on the upcoming 5 March and it will wrap up on 7 March 2024.

The IPO allotment for the Sona Machinery IPO will happen on 11 March 2024. The refund initiation for investors who did not get the shares can expect the refund on 12 March 2024. 

After the IPO allotment, the Sona Machinery IPO will be listed on NSE SME on 13 March 2024. Summing up all the key dates for Sona Machinery IPO:

Date Sona Machinery IPO events
5 March 2024 IPO Opening Date
7 March 2024 IPO Closing Date
11 March 2024 IPO Allotment 
12 March 2024 Refund Initiation
13 March 2024 Listing Date
7 March 2024 UPI mandate confirmation cut-off time at 5:00 PM

Sona Machinery IPO

Sona Machinery IPO Details

The objective of the Sona Machinery IPO is to raise capital to set up a new manufacturing unit in Ghaziabad and repay the Letter of Credit issued by the company for machinery purchase. 

The Sona Machinery IPO is a fresh issue of 36.24 lakh shares, approximately Rs 51.82 crores. The issue is under terms of regulations 229(2) and 253(1) of SEBI. The price band ranges from ₹136 to ₹143 per equity share with a face value of ₹10 per share.

The minimum lot size for the investors consists of 1000 shares of the amount ₹143,000.

The registrar of the issue is Maashitla Securities Pvt. Ltd. and the book-running lead manager is Hem Securities Limited.

Company Name  Sona Machinery
IPO Total Size  36.24 lakh shares matches up to ₹51.82 cr
Face Value ₹10 per equity share
Issue type Book Built Issue 
Lot Size  1000 shares
Price band ₹136 to ₹143 per equity share
Fresh issue 36.24 lakh shares
Listing at  NSE SME
Market Makers 1,82,000 shares

The promoters of the company Ms Shweta Baisla and Vasu Naren hold 100% shares and there’s no update on their shareholding after the issue.

Sona Machinery IPO Reservations and Lot Size

The shares reserved for the investor category in the IPO are 50% for the QIB (Qualified institutional buyers), 35% for the retail investors, and 15% for the NII (Non-institutional buyers) High Networth individuals.

Investor Category Offered Shares from the net issue 
QIB Not more than 50%
Retail Not more than 35%
NII (HNI) Not more than 15%

Moving on to the lot size of the issue, the minimum lot size of the issue contains 1000 shares. Retail investors can invest in 1000 shares with a minimum investment amount of around ₹143,000. 

The HNI investors can invest for 2 lots with minimum lot shares of 2000 in minimal investment of ₹286,000.

Investor Category Lots Shares Amount
Retail (min.) 1 1000 ₹143,000
Retail (max.) 2 1000 ₹143,000
HNI (min.) 2 2000 ₹286,000

The revenue of Sona Machinery has increased by 82.3%, and speaking about PAT, it has hiked by 133.61%. If you wish to invest in Sona Machinery, be ready on 5 March 2024 for the IPO opening.

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