Sonaselection India IPO Day 2: Issue booked 61% so far, retail portion fully subscribed; check all key updates

The initial public offering (IPO) of Sonaselection India on its second day of subscription sees total booking of 61% so far on Friday, September 18.

Until 12:30 PM, the initial share sale of the company has received bids for 60,65,700 shares as compared to 1,00,10,000 shares on offer, as per exchange data.

The non-institutional investor (NII) category has been subscribed 0.28 times, while the retail individual investor (RII) segment saw a 1.03 times subscription. However, the Qualified Institutional Buyers (QIB) portion was booked 0.11 times.

The ₹142 crore IPO is a complete fresh issue with a price band set between ₹94 and ₹99 per share. The minimum investment for an application is 150 shares and in multiples thereof.

The initial share sale is exclusively a fresh issuance of 1.43 crore shares. There is no offer for the sale component.

Before the IPO, the company raised ₹42.47 crore from anchor investors, including Astorne Capital VCC-Arven, India Max Investment Fund and Lords Multigrowth Fund.

“Our company expects to receive the benefits of listing of the Equity Shares, including to enhance our visibility and our brand image among our existing and potential customers, and to create a public market for our Equity Shares in India,” according to the red herring prospectus.

Sonaselection India IPO Objective

The money raised from the IPO will be used towards the following objectives:

Sonaselection India IPO allotment and listing date

About Sonaselection India

Sonaselection India is a Bhilwara-based firm in the manufacture and processing of fabric, incorporated in February 2022. The company manufactures cotton, cotton Lycra, cotton-blended and polyester-blended fabrics. In addition, it processes cotton, polyester, viscose and polyester fabrics on behalf of other parties. 

The cotton fabric processing plant was set up in July 2024 and has enabled the company to move from job work to its own account manufacturing. The company has 628 SKUs in FY26, up from 453 in FY25 and 1 in FY24.

In FY26, the textile firm has served 909 customers, while only 191 were served in FY24.

Shares of Sonaselection India will be listed on both the National Stock Exchange and the Bombay Stock Exchange.