Sonaselection India shares list at 3% premium on NSE; here's how much investors made per lot

On the BSE, the stock debuted at ₹102 per share, up 3.03% from the issue price.

After listing, the scrip rose 5% to ₹107.42, its upper circuit level.

Sonaselection India share price: Here's how much investors made per lot

The initial public offering was subscribed 2.01 times, as it got bids for 2,01,04,050 shares against 1,00,10,000 shares on offer, as per the data on the NSE website.

The part reserved for retail individual investors was subscribed 2.50 times, while the quota for non-institutional investors (NIIs) received 2 times subscription. The category for qualified institutional buyers (QIBs) fetched 1.16 times subscription.

The ₹141.57 crore initial share sale was solely a fresh issuance of 1.43 crore shares, with no offer-for-sale (OFS) component.

The money generated is intended for debt clearance, capital expenditure requirements towards the purchase of machinery and plant at the existing manufacturing facility and general corporate purposes.

"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," the firm said in its red herring prospectus.

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

Sonaselection India Limited, founded in 2022, is an integrated fabric manufacturing and processing company, with the core operations housed at its manufacturing facility at Bhilwara in Rajasthan.