SONA MACHINERY LIMITED

05 Mar 2024 - 07 Mar 2024 Individual Category SME IPO NSE

Min Investment

₹272000

Price Band

₹136-₹143

Issue Size

25.92 lakhs
Equity Shares

Lot Size

1000 (per lot)

IPO Dates
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05 Mar 2024

Open Date

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07 Mar 2024

Close Date

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07 Mar 2024

Allotment Date

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12 Mar 2024

Listing Date

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.

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About Sona Machinery Limited

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.

Founded

2001

Managing Director

Parent Organization

IPO Objectives

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.

Company Promoters

Subscription Details

Investor Category Subscription (times)
Qualified Institutions 0
Non-Institutional Buyers 0
bNII (bids above ₹10L) 0
sNII (bids below ₹10L) 0
Retail Investors 0
Employees 0
Others 0
Total 0
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