Sona Machinery is scheduled to hit the market on March 5, 2024 and close on March 7, 2024. Sona Machinery plans to raise around ₹51.82 Cr through an IPO with a sale of up to 3,624,000 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
Founded in 2019, Sona Machinery Limited specializes in producing agricultural machinery for processing rice, pulses, wheat, spices, and Barnyard Millet. The company offers a wide range of machines including Grains Pre-Cleaner, Rotary Drum Cleaner, Vibro Classifiers, Stone Separator Machines, and more. They have been recognized with an ISO 9001:2015 certification for their Quality Management Systems and export their products to several countries like Nigeria, Bangladesh, Kenya, and Nepal.
Sona Machinery provides comprehensive services such as engineering, installation, supervision, and machine commissioning for the milling sector. Their manufacturing facility located in Ghaziabad, Uttar Pradesh spans across approximately 52,205 sq. ft., equipped with a warehouse for storage. As of September 30, 2023, the company has a workforce of over 390 employees, which includes semi-skilled workers at various levels within the organization.
Sona Machinery IPO Details
Sona Machinery IPO opens on March 05, 2024, and closes on March 07, 2024. The Listing date for Sona Machinery IPO is on March 13, 2024. The price band for IPO is ₹136 to ₹143 per share and lot size of 1000 Shares.
| IPO Date | Mar 05, 2024 to Mar 07, 2024 |
| Listing Date | Mar 13, 2024 |
| Price | ₹136 to ₹143 per share |
| Lot Size | 1000 Shares |
| Issue Size | ₹51.82 Cr |
| Face Value | ₹10 per share |
Sona Machinery IPO Tentative Timetable
Sona Machinery opening date is March 05, 2024 and close date is March 07, 2024. The IPO allotment date is March 11, 2024. The refund initiation of IPO is on March 12, 2024. The credit of shares in demat account is on March 12, 2024. The listing date is on March 13, 2024.
| Event | Date |
|---|---|
| IPO Opening | Mar 05, 2024 |
| IPO Closing | Mar 07, 2024 |
| IPO Allotment Date | Mar 11, 2024 |
| Refund Initiation | Mar 12, 2024 |
| Shares Credit to Demat | Mar 12, 2024 |
| Lisiting Date | Mar 13, 2024 |
Sona Machinery IPO Lot Size
Lot Size of this IPO is 1000 shares. A retail-individual investor can apply for up to 1 lot (1000 shares or ₹143,000).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 1000 | ₹143,000 |
| Retail(Maximum) | 1 | 1000 | ₹143,000 |
| HNI (Minimum) | 2 | 2000 | ₹286,000 |
Sona Machinery IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 73.59% |
Sona Machinery IPO Review
Sona Machinery Ltd. (SML) is gearing up to introduce its first IPO through the book building route, offering 3,624,000 equity shares at a price range of Rs. 136 to Rs. 143 per share. The company plans to utilize the funds raised for expanding its manufacturing capabilities by setting up a new unit in Ghaziabad, Uttar Pradesh, along with repaying outstanding debts and meeting general corporate requirements. With a strong foothold in the agro-processing equipment manufacturing sector, SML has demonstrated consistent growth in both revenue and profit margins over the years, highlighting its financial stability and market presence.
For investors seeking exposure to the agro-processing industry, Sona Machinery Ltd.'s IPO presents an attractive opportunity. Specializing in manufacturing a wide range of equipment for rice mills and ethanol distilleries, SML offers end-to-end solutions including engineering, erection, and machine commissioning services. Despite the valuation being deemed fully priced based on FY24 earnings, well-informed investors looking for potential medium to long-term gains may consider allocating funds to SML's IPO. Hem Securities Ltd., a reputable market player, leads the issue, adding a layer of credibility to the offering.
With a strong emphasis on quality manufacturing and comprehensive service offerings, Sona Machinery Ltd. stands out as a promising player in the agro-processing equipment sector. The company's track record of steady revenue growth and profitability underscores its operational efficiency and market competitiveness. While the IPO may be considered slightly on the higher side in terms of valuation, investors with a long-term perspective and confidence in SML's growth trajectory could find value in participating in this offering. As the issue opens for subscription on March 5 and closes on March 7, interested stakeholders have a limited window to capitalize on this opportunity to be part of SML's growth journey.
Sona Machinery IPO Subscription Status (Bidding Details)
Table not foundSona Machinery IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Sona Machinery IPO FAQs
What is Sona Machinery IPO?
Sona Machinery is issuing 3,624,000 equity shares with a face value of ₹10 each, totaling up to ₹51.82 Cr. The shares are being offered at a price of ₹136 to ₹143 each, with a minimum order quantity of 1000 shares.
Maashitla Securities Private Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Sona Machinery IPO will open?
Sona Machinery will open on March 05, 2024 for QIB, NII, and Retail Investors.
When Sona Machinery IPO will end?
Sona Machinery will end on March 07, 2024.
What is Sona Machinery IPO Size?
Sona Machinery IPO size is ₹51.82 Cr.
What is Sona Machinery IPO Price Band?
Sona Machinery price band is ₹136 to ₹143 per share.
What is the Sona Machinery IPO Allotment Date?
Sona Machinery allotment date is March 11, 2024.
What is the Sona Machinery IPO Listing Date?
Sona Machinery listing date is March 13, 2024. The IPO is to be listed on BSE and NSE.
How to Sona Machinery IPO through Zerodha?
To apply for the IPO “Sona Machinery” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Sona Machinery IPO through Upstox?
To apply for the IPO “Sona Machinery” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Sona Machinery IPO Allotment Status?
For Sona Machinery IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Sona Machinery IPO GMP?
You can check out here: Sona Machinery IPO GMP