The Sonaselection India IPO has entered its second day of bidding, with investors having a three-day window to place their bids. In the grey market, the IPO is commanding a GMP of around 7%, pointing to positive market expectations ahead of its stock-market debut.
On Day 1, the issue was subscribed 47% overall, with bids received against the 1 crore shares on offer. The retail segment witnessed stronger participation, with the portion subscribed 77%.
The Rs 141.57-crore public issue will remain open for subscription until September 21, 2026. The book-built issue comprises entirely of a fresh issue of 1.43 crore equity shares, with no offer-for-sale (OFS) component.
The share allotment is expected to be finalised on September 22, while the company's shares are tentatively scheduled to debut on September 24. The stock is proposed to be listed on both the NSE and BSE.
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The IPO has set a price band of Rs 94–99 per share, with investors able to bid in lots of 150 shares. At the upper end of the price band, retail investors will require a minimum investment of Rs 14,850 for one lot.
Choice Capital Advisors Pvt. Ltd. is serving as the book-running lead manager for the issue, while KFin Technologies Ltd. has been appointed as the registrar.
Sonaselection India IPO subscription status
The Sonaselection India IPO witnessed 47% subscription on Day 1, with bids received against the 1 crore shares on offer.
Retail Individual Investors (RIIs): Subscribed 77% against the 50 lakh shares offered.
Non-Institutional Investors (NIIs): Subscribed 24% against the 21.45 lakh shares on offer.
Qualified Institutional Buyers (QIBs): Subscribed 11% against the 28.60 lakh shares offered.
Sonaselection India IPO GMP today
The Sonaselection India IPO Grey Market Premium (GMP) is currently reported at Rs 2, representing a 2% premium over the upper end of the IPO price band of Rs 99 per share. Based on the latest GMP, the estimated listing price of Sonaselection India shares stands at around Rs 101 per share.
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It is important to note that GMP is an unofficial and unregulated market indicator and does not guarantee the actual listing price. The premium can fluctuate frequently depending on market sentiment, investor demand and other factors. The actual listing price may differ from the GMP-based estimate and will ultimately depend on prevailing market conditions on the listing day.
The company proposes to utilise the Net Proceeds of the Issue primarily towards repayment and/or pre-payment, in full or part, of certain borrowings, amounting to Rs 80.00 crore. This is intended to strengthen the company’s financial position and reduce its debt obligations.
Further, Rs 50.61 crore will be utilised to fund capital expenditure for the purchase of plant and machinery at the company’s existing Manufacturing Facility located at 18th K M Stone, Chittorgarh Road, Hamirgarh, Bhilwara, Rajasthan. The remaining proceeds will be used for general corporate purposes, with the total Issue size amounting to Rs 130.61 crore.
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Sonaselection India Ltd. reported a strong financial performance in FY26, with total income increasing by 64% to Rs 517.60 crore from Rs 316.47 crore in FY25.
Profitability also improved significantly, with Profit After Tax (PAT) rising 83% to Rs 34.02 crore in FY26, compared with Rs 18.56 crore in FY25. This reflects a notable improvement in the company’s overall earnings performance.
Incorporated in February 2022, Sonaselection India Ltd. is an integrated textile manufacturing and processing company producing value-added fabrics. Its product portfolio includes 100% cotton, cotton lycra (stretch), cotton blends and polyester blends, along with processing of cotton, polyester-viscose (P/V) and polyester fabrics.
The company transitioned from a job-work processing model to a manufacturing-led model after acquiring a textile processing unit in 2022 and commissioning a cotton fabric processing plant in July 2024.
Located in Bhilwara, Rajasthan, the manufacturing facility spans approximately 49,540 sq. metres and has an installed processing capacity of 82.44 million metres per annum. Equipped with modern machinery, the facility undertakes bleaching, dyeing and finishing processes.
With an integrated manufacturing and job-work model, the company focuses on quality control, efficient processing and timely delivery, catering to diverse apparel and textile applications.
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