Sodhani Academy IPO day 3: BSE SME issue booked over 438 times; check subscription status and other key details

Sodhani Academy of Fintech Enablers IPO closed with a bumper subscription on Tuesday, September 17, as the public offer was booked more than 438 times.

The BSE SME issue was booked 438.77 times, driven by high demand from non-institutional investors.

The initial public offering (IPO) of the financial education, training, and consultancy services provider received bids for more than 63.71 crore shares compared to 14.52 lakh shares on offer.

In the Non-Institutional Investors category, applications were received for more than 37.13 crore shares against 7.26 lakh shares available for bidding. The NIIs booked their quota 511.45 times.

The retail portion was booked 358.47 times with bids for over 26.02 crore shares against 7.26 lakh shares reserved for the segment.

The Qualified Institutional Buyers (QIBs) submitted bids for 55.35 lakh shares, as per the BSE data.

Sodhani Academy of Fintech Enablers IPO offer size and price band

The Sodhani Academy of Fintech Enablers IPO was a book-building issue worth ₹6.12 crore. It comprised a fresh issue of 9.7 lakh shares aimed at raising ₹3.88 crore and an offer-for-sale portion of 5.6 lakh shares, amounting to ₹2.24 crore. The IPO price was fixed at ₹40 per share.

Cameo Corporate Services Limited is serving as the registrar for the Sodhani Academy of Fintech Enablers IPO with Srujan Alpha Capital Advisors LLP acting as the book-running lead manager. Prabhat Financial Services is designated as the market maker for the IPO.

Sodhani Academy IPO dates

Sodhani Academy IPO subscription was open from September 12 to September 17. The IPO allotment status is expected to be finalised on September 18.

Successful bidders will receive shares in their Demat accounts on September 19 while refunds will be initiated for non-allottees the same day.

The Sodhani Academy IPO listing date has been tentatively fixed as September 20. The stock will be listed on the BSE SME platform.

Sodhani Academy IPO objective

The company intends to use the net proceeds from the new issue to support several initiatives. These include establishing a content studio and offline training facilities, acquiring IT hardware and software, developing course materials, and boosting brand visibility and awareness.

The funds will also be allocated to creating a Learning Management System (LMS) application and addressing general corporate needs.

About Sodhani Academy of Fintech Enablers Limited

Founded in 2009, Sodhani Academy of Fintech Enablers Limited specialises in financial education, training and consultancy. The organisation focuses on enhancing financial literacy by equipping individuals with the knowledge and skills needed for sound financial decision-making.

This includes money management, budgeting, saving, investing, and understanding financial products and services. The company offers a range of financial education services, including courses, seminars and study materials catering to diverse categories of investors.