Sona Machinery IPO: Check issue size, price band, GMP and other details
Sona Machinery opened for subscription earlier today and will close on March 7. The company aims to raise about Rs 52 crore through the SME IPO and list the shares on NSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.
1) About Sona Machinery
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Sona Machinery is a diversified agro-processing equipment manufacturer, manufacturing equipment for the processing of rice, pulses, wheat, spices, Barnyard Millet etc. Its product portfolio includes Grains Pre-Cleaner machines, Rotary Drum Cleaner, Vibro Classifiers, Stone Separator among others.
2) Industry overview
India’s food processing sector is one of the largest in the world and its output is expected to reach $535 bn by 2025-26. The food processing sector in India has a quintessential role in linking Indian farmers to consumers in the domestic and international markets.
3) Sona Machinery IPO size
The IPO is entirely a fresh equity issue of 36.24 lakh shares and through the issue, the company aims to raise Rs 52 crore.
4) Sona Machinery IPO price band
The company is offering its shares at Rs 136-143 apiece, and investors can bid for 1,000 shares in 1 lot.
5) Sona Machinery IPO financial performance
For the period ended November 2023, the company clocked revenues of Rs 62.75 crore and net profit of Rs 6.47 crore.
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6) Objects of the offer
The net proceeds from the public offer will be used
