Sona machinery IPO opens: Price band at ₹136-143, check latest GMP here - Hindustan Times

Sona machinery IPO opens: Price band at 136-143, check latest GMP here

Mar 05, 2024 07:56 AM IST

Sona machinery IPO: The equity shares will be listed on NSE Emerge with a floor price of ₹136 and a cap price of ₹143.

Sona machinery IPO: The initial public offering for Sona Machinery will open today (March 5) and close on March 7. The IPO of the agro-processing original equipment manufacturer will see a fresh issue of up to 3,624,000 equity shares with a face value of 10 per share. The equity shares will be listed on NSE Emerge with a floor price of 136 and a cap price of 143.

Sona machinery IPO: The Sona machinery IPO opens for subscription on March 5. Check details here
Sona machinery IPO: The Sona machinery IPO opens for subscription on March 5. Check details here

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Sona Machinery IPO: Issue details

From the IPO, a minimum of 5.08% is reserved for market makers while the portion for Qualified Institutional Buyers (QIBs) will be at 50%. Non-institutional portion will be not less than 15% of the total issue while the portion for retail buyers will comprise a minimum of 35% of the equity shares on offer.

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Sona Machinery IPO: Lot size

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Bids can be made for a minimum of 1,000 equity shares or in multiples thereof.

Sona Machinery IPO: Book running lead manager

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

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Sona Machinery IPO: Objectives of the IPO

The net proceeds from the IPO will be used for capital expenditure involved in setting up a new manufacturing unit at Ghaziabad and in the repayment of outstanding lines of credit used to purchase machinery, the company said. Remaining proceeds will be used for general corporate purposes.

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Sona Machinery IPO: Promoters

Vasu Naren and Shweta Baisla are the promoters of the company.

Sona Machinery IPO: GMP today

The grey market price of the IPO ranges from 70 to 72 per share, as per unlisted market tracking websites.

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