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    Sona Machinery SME IPO allotment: Check status, GMP, other details

    Synopsis

    Sona Machinery IPO allotment status can be checked on the NSE website or the IPO Allotment Status page of registrar Maashitla Securities. The IPO received an overwhelming response with bids for 65.9 crore shares against 25,92,000 shares on offer.

    Sona Machinery SME IPO allotment: Check status, GMP, other detailsAgencies
    The allotment of shares in the initial public offering (IPO) of Sona Machinery is expected to be finalised on Monday. Investors who applied for the issue can check the allotment status by visiting the NSE website. The stock will list on the NSE Emerge platform.

    On the allotment date, investors get to know about the number of shares allotted to them as against the bids made.

    Here's how you can check the status on NSE:

    Step 1: Visit the NSE Website

    Step 2: Please select the issue name, that is the company's name in the drop down.

    Step 3: Enter the application number or PAN number to check the allotment status.

    The allotment status can also be checked by visiting the official website of the registrar to the issue which is Maashitla Securities in this case.

    Step 1: Visit the IPO Allotment Status page on MAS Services website

    Step 2: Select IPO from the dropdown

    Step 3: Put Application number and enter captcha and 'Submit'.


    Sona Machinery IPO subscription status


    The IPO of the company, which opened for subscription on Tuesday, was subscribed over 254 times as of the final day.

    The issue received cumulative bids for 65.9 crore shares, against 25,92,000 shares on offer.

    The retail portion of the issue got bids for 28.3 crore shares, while the non-institutional category (NII) category got bids for 28.7 crore shares. The quota for qualified institutional buyers (QIBs) got bids for 8.92 crore shares.

    The IPO is entirely a fresh equity issue of 36.24 lakh shares and through the issue, the company aims to raise Rs 52 crore.

    The company is offering its shares at Rs 136-143 apiece, and investors can bid for 1,000
    shares in 1 lot.


    Sona Machinery IPO GMP


    In the unlisted market, the company's shares were trading at a significant premium of Rs 115. This compares with an upper price band of Rs 143 per share.


    Sona Machinery IPO timeline


    Initiation of refunds and transfer of shares into the demat accounts is expected to happen on March 12, Tuesday, while the stock’s listing is likely to take place on March 13, Wednesday.

    About Sona Machinery


    Sona Machinery is a diversified agro-processing equipment manufacturer, manufacturing equipment for the processing of rice, pulses, wheat, spices, Barnyard Millet etc. Its product portfolio includes Grains Pre-Cleaner machines, Rotary Drum Cleaner, Vibro Classifiers and Stone Separator among others.

    For the period ended November 2023, the company clocked revenues of Rs 62.75 crore and net profit of Rs 6.47 crore.

    Sona Machinery IPO lead managers


    Hem Securities is acting as the lead manager to the issue and Maashitla Securities is the registrar.

    (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)


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