Sona Machinery IPO: Issue subscribed over 12.27 times on Day 1, check GMP and other details

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₹14.76 crore from eight anchor investors on Monday, March 4. Also read: Sona Machinery IPO opens on March 5, price band fixed at ₹136-143 Sona Machinery is a diversified agro-processing equipment manufacturer with an extensive product range and caters to setting-up of Complete Rice Mill Projects as well as processing of other grains like pulses, wheat, spices, millet, etc. Its state-of-the-art portfolio encompasses grains pre-cleaner machines, rotary drum cleaners, vibro classifiers, stone separator machines, paddy de-huskers, husk aspirators, rice thick/thin graders, rice whiteners, silky polishers, optical sorters, multi graders, length graders, belt conveyors, bucket elevators, etc.

It also provides a full range of solutions for Ethanol Distilleries (Grain Based Distilleries – Unloading & Milling Sections) encompassing engineering, erection, supervision, and machine commissioning services. The Sona Machinery IPO was subscribed 12.27 times on the first day of bidding. The SME IPO received 3,18,15,000 applications against offered 25,92,000 shares, as per data on NSE.

The retail category received 2,27,56,000 share applications, meanwhile, NII and QIB received 44,43,000 and 46,16,000 applications respectively, on the first day of subscription. Also read: RK Swamy IPO: Issue booked 6.01 times on Day 2 with retail support; check GMP, other details The SME IPO is a book built issue of ₹51.82 crore and is entirely a fresh issue of 36.24 lakh shares. Sona Machinery IPO price band is set at ₹136 to ₹143 per share, with a face value of ₹10 per share.