Sona Machinery IPO: Check Subscription Status, GMP Today.
Unlisted shares of Sona Machinery Ltd are buying and selling Rs 115 larger within the gray market, anticipating an 80.42 per cent itemizing achieve from the general public challenge
Sona Machinery IPO: The preliminary public provide of agro-equipment maker Sona Machinery Ltd, which was closed on March 6, has obtained a whopping response from traders. Till 6:57 pm on the ultimate day of bidding on Wednesday, March 6, the Rs 51.82-crore SME IPO obtained 41.03 occasions subscription garnering bids for 9,88,86,000 shares as in opposition to 24,10,000 shares on provide.
The class for retail particular person traders (RIIs) obtained 63.40 occasions subscription whereas the portion for non-institutional traders acquired subscribed 34.48 occasions. The quota for Qualified Institutional Buyers (QIBs) fetched 6.78 occasions subscription.
The allotment of the Sona Machinery IPO will happen on March 11, whereas its itemizing will happen on the NSE SME on March 13, 2024.
Sona Machinery IPO GMP Today
According to market observers, unlisted shares of Sona Machinery Ltd are buying and selling Rs 115 larger within the gray market as in contrast with its challenge value. The Rs 115 gray market premium or GMP means the gray market is anticipating an 80.42 per cent itemizing achieve from the general public challenge. The GMP relies on market sentiments and retains altering.
‘Grey market premium’ signifies traders’ readiness to pay greater than the difficulty value.
Sona Machinery IPO Details
Sona Machinery IPO is totally a contemporary challenge of 36.24 lakh shares. The value band is ready at Rs 136 to Rs 143 per share. The minimal lot dimension for an software is 1,000 shares. The minimal quantity of funding required by retail traders is Rs 1,43,000. The minimal lot dimension funding for HNI is 2 heaps (2,000 shares) amounting to Rs 2,86,000.
Hem Securities Limited is the e book-working lead supervisor of the Sona Machinery IPO, whereas Maashitla Securities Private Limited is the registrar for the difficulty. The market maker for Sona Machinery IPO is Hem Finlease.
Sona Machinery Limited, which was based in 2019, produces agricultural equipment for processing rice, pulses, wheat, spices, and Barnyard Millet.
The firm 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 and many others.
The firm exports its merchandise to Nigeria, Bangladesh, Kenya and Nepal.
