Sona Machinery IPO is a book built issue of Rs 51.82 crores. The issue is entirely a fresh issue of 36.24 lakh shares.
Sona Machinery IPO opens for subscription on March 5, 2024 and closes on March 7, 2024. The allotment for the Sona Machinery IPO is expected to be finalized on Monday, March 11, 2024. Sona Machinery IPO will list on NSE SME with tentative listing date fixed as Wednesday, March 13, 2024.
Sona Machinery IPO price band is set at ₹136 to ₹143 per share. The minimum lot size for an application is 1000 Shares. The minimum amount of investment required by retail investors is ₹143,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to ₹286,000.
Hem Securities Limited is the book running lead manager of the Sona Machinery IPO, while Maashitla Securities Private Limited is the registrar for the issue.
Refer to Sona Machinery IPO DRHP for detailed information.
Sona Machinery IPO Details
| IPO Date | March 5, 2024 to March 7, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹136 to ₹143 per share |
| Lot Size | 1000 Shares |
| Total Issue Size | 3,624,000 shares (aggregating up to ₹51.82 Cr) |
| Fresh Issue | 3,624,000 shares (aggregating up to ₹51.82 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 10,100,000 |
| Share holding post issue | 13,724,000 |
| Market Maker portion | 182,000 shares |
Sona Machinery IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Sona Machinery IPO Timeline (Tentative Schedule)
Sona Machinery IPO opens on March 5, 2024, and closes on March 7, 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 |
Sona Machinery IPO Lot Size
Investors can bid for a minimum of 1000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹143,000 |
| Retail (Max) | 1 | 1000 | ₹143,000 |
| HNI (Min) | 2 | 2,000 | ₹286,000 |
| Lot Size Calculator | |||
Sona Machinery IPO Promoter Holding
Mr. Vasu Naren and Ms. Shweta Baisla are the promoters of the company.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue |
About Sona Machinery Limited
Sona Machinery Limited, founded in 2001, manufactures machinery for agricultural processing.
The company manufactures Grains Pre-Cleaner machines, Rotary Drum Cleaner, Vibro Classifiers, Stone Separator Machines, Paddy De-Husker, Husk Aspirator, Rice Thick/Thin Grader, Rice Whitener, Silky Polisher, Multi Grader, Length Grader, Belt Conveyer, Bucket Elevator etc.
Sona Machinery’s service offering includes engineering, installation, supervision and machine commissioning, providing 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.
The company’s manufacturing facility is located in Ghaziabad, Uttar Pradesh, with a total area of approximately 52,205 sq. ft. and a warehouse for storage of material and finished goods.
As of September 30, 2023, the company employed over 390 employees, including semi-skilled workers at various levels of the organization.
Sona Machinery Limited Financial Information (Restated Standalone)
Sona Machinery Limited’s revenue increased by 82.3% and profit after tax (PAT) rose by 133.61% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Aug 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| 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 | 252.60 | 236.61 | |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
The market capitalization of Sona Machinery IPO is Rs 196.25 Cr.
| KPI | Values |
|---|---|
| ROE | 44.49% |
| ROCE | 46.61% |
| RoNW | 36.39% |
| P/BV | 8.11 |
Check Sona Machinery IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 7.63 | 3.28 |
| P/E (x) | 18.73 | 43.55 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of August 31, 2023 that is available in RHP.
Objects of the Issue (Sona Machinery IPO Objectives)
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Funding the Capital Expenditure requirements of the company towards setting up a new manufacturing unit at Ghaziabad.
- Repayment of the outstanding amount of the Letter of Credit availed by the company for the purchase of machinery.
- General Corporate Purpose
Sona Machinery Limited Contact Details
Sona Machinery Limited
Unit No. 701, 7th floor,
KLJ Tower, Plot No. B-5, Netaji Subhash Place,
Maurya Enclave, North West Delhi, Delhi – 110034
Phone: +91-8448984368
Email: cs@sonamachinery.com
Website: http://www.sonamachinery.com/
Sona Machinery IPO Registrar
Maashitla Securities Private Limited
Phone: +91-11-45121795-96
Email: ipo@maashitla.com
Website: https://maashitla.com/allotment-status/public-issues