The SME IPO of Sodhani Academy will open for subscription today and close on September 17. The company aims to raise about Rs 6.12 crore through the SME IPO and list the shares on BSE SME platform. Here are 10 key things investors need to know about the public offer before subscribing to the issue.
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1) Sodhani Academy IPO size
The IPO comprises a fresh equity issue of 9.7 lakh shares and an offer for sale of 5.6 lakh shares.
2) Sodhani Academy IPO price band
The company is offering its shares at Rs 40 apiece, and investors can bid for 3000 shares in 1 lot.
3) Sodhani Academy GMP
In the unlisted market, the company’s shares had no GMP ahead of the issue opening.
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4) About Sodhani Academy
The company is a prominent manufacturer and supplier of rigid plastic packaging. It also exports globally (indirectly through export houses and third parties). Sodhani further provides industrial packaging solutions catering to various sectors such as paints, agro, chemicals, cosmetics, adhesives, lubricants, food, and edible oil.
5) Industry overview
The plastic containers industry plays a crucial role in the packaging sector, offering versatile and durable solutions for various applications across different industries. Plastic containers are widely used for packaging, storing, and transporting a wide range of products, including chemicals, paints, construction materials, oils, agrochemicals, dairy products, adhesives, food items, lubricants, and inks.
6) Sodhani Academy financial performance
For the year ended March 2024, the company clocked total revenues of Rs 24.24 crore and net profit of Rs 3.26 crore.
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7) Objects of the offer
The net proceeds from the public offer will be used for capital expenditure requirements and general corporate purposes.
8) Lead managers and Registrar
Srujan Alpha Capital is acting as the lead manager to the issue and Cameo Corporate Services is the registrar.
9) Issue structure
About 50% of the offer is reserved for retail investors and the rest 50% for other investors.
10) Important dates
The IPO opened on September 12 and will close on September 17. The final allotment will likely be made on September 18. The company’s shares will likely get listed on September 20.
