Sodhani Academy IPO fully subscribed within hours of launch: Check offer size, price band, minimum investment and more

The Sodhani Academy of Fintech Enablers Limited IPO opened to a strong demand on Thursday, September 12, as the public issue was fully subscribed within hours of launch.

The BSE SME IPO was subscribed 1.29 times, driven by high demand from the retail investors. Sodhani Academy IPO received bids for 18.78 lakh shares compared to 14.52 lakh shares on offer, as per the BSE data till 3:15 pm.

The financial education, training and consultancy services provider’s initial public offer is open for subscription from September 12 to September 17. The retail investors booked their quota 2.13 times with bids for 15.48 lakh shares against 7.26 lakh shares set aside for the category. In the Non-Institutional Investors’ (NIIs) category the issue was booked 45% with applications for 3.3 lakh shares against 7.26 lakh shares reserved for the segment.

The investors interested in the Sodhani Academy IPO subscription should check price, offer size, minimum investment and key dates before applying for shares.

Sodhani Academy IPO offer size, price band and other details

Sodhani Academy IPO is a book-building issue worth ₹6.12 crore. The initial public offering is a combination of a fresh issue of 9.7 lakh shares, amounting to ₹3.88 crore, and an offer-for-sale (OFS) component of 5.6 lakh share, totalling to ₹2.24 crore.

The Sodhani Academy IPO price has been fixed at ₹40 per share.

The minimum lot size for an application is 3,000 shares for retail investors, amounting to an investment of ₹1,20,000. For High Networth Individuals (HNIs), the minimum application size is 2 lots, or 6,000 shares, aggregating to ₹2,40,000.

Sodhani Academy IPO dates

After the subscription, Sodhani Academy IPO allotment status is expected to be finalised on September 18. Shares will be transferred to the Demat accounts of successful bidders on September 19 and the company will also initiate refunds for non-allottees the same day.

Shares of Sodhani Academy of Fintech Enablers Limited are scheduled to make market debut on September 20. The stock will be listed on the BSE SME platform.

Sodhani Academy IPO registrar

The registrar for the Sodhani Academy IPO is Cameo Corporate Services Limited, while the book-running lead manager is Srujan Alpha Capital Advisors LLP.

Prabhat Financial Services is the market maker for Sodhani Academy of Fintech Enablers IPO. The company has set aside 78,000 shares for the market marker.

Sodhani Academy IPO objective

The company plans to utilise the net proceeds from IPO to fund several key initiatives, including the development of a content studio and offline training infrastructure, procurement of information technology (hardware and software), creation of course material, and enhancement of brand visibility and awareness.

Additionally, the funds will be used for the development of a Learning Management System (LMS) application and for general corporate purposes.

About Sodhani Academy of Fintech Enablers Limited

Established in 2009, Sodhani Academy of Fintech Enablers Limited provides financial education, training and consultancy services.

The company is primarily focused on financial education catering to diverse financial concepts. The company serves a variety of participant categories through financial education and financial literacy courses, seminars, events, and education materials.