Sonalis Consumer Products SME IPO listing: Stock lists at a premium on BSE SME

The stock was listed at ₹38 per share, 26.67 percent higher than the issue price on the BSE SME exchange. The stock hit intraday high of ₹39.90  per share, and a intraday low of ₹38 , on the BSE SME, at 10:11 IST.

The issue was subscribed to 43.48 times on Day 3 where in the retail portion was subscribed 48.31 times and 38.41 times in non-institutional investors (NIIs). On Day 2, the issue was subscribed 6.05 times. On Day 1, the issue was subscribed 1.64 times. 

Sonalis Consumer Products IPO: Fully booked as retail investors show interest; check details

Investors can bid for a minimum of 4,000 shares in one lot and multiples thereafter at the fixed price of ₹30 set by the company.

The issue’s book-running lead manager is Global Consultants, while Sonalis Consumer Products IPO’s registrar is Purva Sharegistry.

Newly issued 9.44 lakh shares totalling ₹2.83 crore make up the SME IPO. The net IPO proceeds from Sonalis Consumer Products are intended to be used for general company purposes, working capital requirements, and issuance costs.

The company sells a wide variety of nutritious snacks and foods across the three states of Maharashtra, Gujarat, and Goa.

It took over the Appetite Food company’s business distribution network, which has been in operation since March 5, 2020. In accordance with the Business Transfer Agreement dated May 15, 2022, Sonalis Consumer Products acquired the company for ₹12.87 lakh, along with all of its movable assets, current assets, and liabilities.

A SME IPO is a fundraising procedure that allows a small or medium-sized business to go public like other, larger firms and also gives smaller businesses a platform to be listed on indices.The SME gets listed at BSE SME or NSE Emerge Platforms.The company fixed the price band at ₹165 per equity share for the proposed SME IPO.

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Updated: 19 Jun 2023, 10:12 AM IST