Mumbai. ‘Sonaselection India Limited’, an integrated fabric manufacturing and processing company involved in the manufacturing of value-added products, has announced its IPO of Rs 141.6 crore. The company’s IPO will open for subscription on Thursday, September 17, 2026 and close on Monday, September 21, 2026. Investors will be able to bid in it till September 21. Bidding for anchor investors will open a day earlier, on Wednesday, (September 16). The company has set a price band of ₹94 to ₹99 per equity share for the IPO.
Fresh issue of 1.43 crore shares
The company will issue a maximum of 1.43 crore equity shares of face value of ₹10 through this IPO. This will be a completely fresh issue. According to the fixed price band, the floor price will be ₹94 and the cap price will be ₹99 per share. The floor price is 9.40 times the face value of the share, while the cap price is 9.90 times.
The minimum bid for those wishing to invest in the IPO has been kept at 150 equity shares. After this, investors will be able to bid in multiples of 150-150 shares. The company’s shares are proposed to be listed on BSE and NSE after the IPO. The issue will be offered under the book-building process.
Share fixed for QIB, NII and retail investors
As per SEBI norms, a maximum of 50 per cent of the issue will be available to qualified institutional buyers (QIBs). The company may allocate up to 60 per cent of the QIB portion to anchor investors in consultation with its book running lead manager. There will also be a provision for earmarked reservation for domestic mutual funds, life insurance companies and pension funds in the anchor portion.
35% share reserved for retail investors in IPO
At least 15 per cent of the issue will be available to non-institutional investors (NIIs) and at least 35 per cent to retail investors. Retail and other eligible investors must apply through the ASBA process. Investors applying through UPI will have to provide their respective UPI ID during the application.
The money raised from IPO will be used to repay the loan and purchase machinery.
According to the company’s MD Harshil Nual and promoter Deepak Bhandari, the funds raised from the IPO will mainly be used for full or partial repayment of some loans taken from banks. Apart from this, the amount will also be spent on the purchase of plant and machinery at the company’s existing manufacturing facility in Bhilwara, Rajasthan and the remaining amount will be used for general corporate purposes.
Management of Sona Selection India’s IPO is in the hands of Choice Capital.
Choice Capital Advisors Private Limited has been appointed as the book running lead manager for this IPO, while Kfin Technologies Limited is acting as the registrar. The company is eyeing to raise capital through IPO as well as further strengthen its existing manufacturing capacity.