28-Feb-2024
2 mins read
Sona Machinery Limited is coming up with the SME IPO. The initial public offer is open for subscription from Tuesday, March 5, 2024 and will close on Thursday, March 7, 2024. The price band is decided at Rs 136 to Rs 143 per share. The minimum lot size of this application for the retail category is 1000 shares. Meanwhile, the minimum lot size for the HNI category is 2 lots consisting of 2000 shares. The minimum amount of investment required for retail category investors is Rs 1,43,000 (143 x 1000 shares). However, for the HNI category, the minimum investment amount required is Rs 2,86,000 (143 x 2000 shares).
Sona Machinery Limited IPO is a book-built issue of Rs 51.82 crores. The IPO issue is completely a fresh issue of 36.24 lakh equity shares. The allotment for this IPO is expected to be finalized on Monday, March 11, 2024. Sona Machinery Limited’s IPO will be listed on NSE SME, and the listing date is fixed on Wednesday, March 13, 2024. The book-running lead manager of Sona Machinery Limited IPO is Hem Securities Limited. The registrar for this IPO is Maashitla Securities Private Limited.
About Sona Machinery Profile
Sona Machinery Limited is engaged in the business of manufacturing machinery for agricultural processing. The company was founded in 2001 and currently has a team of 390 employees. The product portfolio of the Sona Machinery includes Turnkey Ricemil solutions, Grain-based distilleries, Cleaning, Milling, Grading, Blending, Material Handling, and Flour sifters. The company offers engineering, installation, supervision, and machine commissioning services. Also, it provides 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.Sona Machinery manufacturing facility is located in Ghaziabad, Uttar Pradesh with a total area of 52,205 sq. ft.
Primary Objectives of Sona Machinery IPO
The funds received from the initial public offering will be used to fund the company’s capital expenditure requirements for setting up a new manufacturing unit In Ghaziabad. Other than this, the proceeds will be used to repay the outstanding amount of Letter of Credit availed by the company for the purchase of machinery. The general corporate purpose will also be covered.
Financial Performance of Sona Machinery Limited (Amt in Rs Lakhs)
The company reported a revenue of Rs 2,713.62 lakhs and profit after tax of Rs 187.77 lakhs for the period ending on 31 August 2023.The revenue increased by 82.3%, and PAT increased by 133.61% for the fiscal ending on 31 March 2023 and 31 March 2022.
| Period Ended | 31-Aug-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 3,303.22 | 2,864.75 | 1,520.54 | 732.62 |
| Revenue | 2,713.62 | 8,118.06 | 4,453.07 | 606.33 |
| Profit After Tax | 187.77 | 770.96 | 330.02 | 28.22 |
| Net Worth | 1,326.67 | 1,138.90 | 367.94 | 37.92 |
| Reserves and Surplus | 1,316.67 | 1,128.90 | 357.94 | 27.92 |
| Total Borrowing | 132.04 | 252.6 | 236.61 |
Other Important Details of Sona Machinery Limited IPO
| IPO Date | March 5, 2024 to March 7, 2024 |
| Listing Date | 13-Mar-24 |
| Face Value | Rs 10 per share |
| Price Band | Rs 136 to Rs 143 per share |
| Lot Size | 1000 Shares |
| Total Issue Size | 3,624,000 shares |
| amounting to Rs 51.82 crores | |
| Fresh Issue | 3,624,000 shares |
| amounting to Rs 51.82 crores | |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Holding pre issue | 10,100,000 |
| Holding post issue | 13,724,000 |
| Market Maker portion | 182,000 equity shares |
Lot Size of Sona Machinery Limited IPO
| Application | Lots | Shares | Amount |
| Retail – minimum | 1 | 1000 | Rs 143,000 |
| Retail – maximum | 1 | 1000 | Rs 143,000 |
| HNI – minimum | 2 | 2,000 | Rs 286,000 |
IPO Reservation of Sona Machinery Limited
| Category Of Investors | Equity Shares Offered |
| Equity shares offered to Qualified Institutional Investors | Not more than 50 per cent of the Net Issue |
| Equity shares offered to the Retail Investors | Not less than 35 per cent of the Net Issue |
| Equity shares offered to Non-Institutional Investors | Not less than 15 per cent of the Net Issue |
Promoters of Sona Machinery Limited and Their Holdings
The promoters of Sona Machinery company are Vasu Naren and Shweta Baisla.
| Shareholding Pre Issue | 100% |
| Shareholding Post Issue | – |
Time-Table of Sona Machinery Limited IPO 2024
| IPO Open Date | Tuesday, March 5, 2024 |
| IPO Close Date | Thursday, March 7, 2024 |
| Basis of Allotment | Monday, March 11, 2024 |
| Initiation of Refunds | Tuesday, March 12, 2024 |
| Credit of Shares to Demat | Tuesday, March 12, 2024 |
| Listing Date | Wednesday, March 13, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 7, 2024 |
Key Performance Indicator of Sona Machinery Limited IPO
| KPI | Values |
| ROE | 44.49% |
| ROCE | 46.61% |
| RoNW | 36.39% |
| P/BV | 10.88 |
| Pre IPO | Post IPO | |
| Earning per share | 7.63 | 3.28 |
| P/E (x) | 18.73 | 43.55 |
Lead Manager(s) of Sona Machinery Limited IPO
The lead manager for Sona Machinery Limited IPO is Hem Securities Limited.
How do you apply for the Sona Machinery Limited IPO?
Wait for the public issue to open for subscription, then visit Bigul website to apply for the Sona Machinery Limited IPO with Bigul.
How do you check the allotment status of Sona Machinery Limited IPO?
The registrar for Sona Machinery Limited IPO is Maashitla Securities Private Limited. To check your allotment status, please click here.
FAQs
- What is Sona Machinery Limited IPO 2024?
Sona Machinery Limited IPO is a book-built issue of Rs 51.82 crores. The IPO issue is completely a fresh issue of 36.24 lakh equity shares. The allotment for this IPO is expected to be finalized on Monday, March 11, 2024. The price band is decided at Rs 136 to Rs 143 per share. The minimum lot size of this application for the retail category is 1000 shares.
- Who are the lead managers for the Sona Machinery Limited IPO?
Hem Securities Limited are appointed as the lead manager for the IPO.
- What is the role of Maashitla Securities Private Limited in this IPO?
Maashitla Securities Private Limited is the registrar for Sona Machinery Limited, handling the IPO’s administrative aspects.
- How can I apply for the Sona Machinery Limited IPO?
The public subscription of this IPO will open on March 5, 2024. Visit the Bigul website for the application process.
- How will the net proceeds from the IPO be utilized?
The funds raised from the initial public offering will be used to fund the company’s capital expenditure requirements for setting up a new manufacturing unit in Ghaziabad. Other than this, the proceeds will be used to repay the outstanding amount of the Letter of Credit availed by the company for the purchase of machinery.
- How can I check the allotment status of the IPO?
You can check the allotment status of the Sona Machinery Limited IPO 2024 by visiting here.
- What is the financial performance of Sona Machinery Limited?
The company reported a revenue of Rs 2,713.62 lakhs and profit after tax of Rs 187.77 lakhs for the period ending on 31 August 2023. The revenue increased by 82.3%, and PAT increased by 133.61% for the fiscal ending on 31 March 2023 and 31 March 2022.