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Mon, 14 Sept 2026
12:51:38 pm
Mon, 14 Sept 2026
12:51:38 pm
Rudransh Sangwan
Published at: September 14, 2026, 9:44 AM
Synopsis
Sonaselection India IPO opens September 17 with a ₹94–₹99 price band and ₹14,850 minimum investment. Check IPO dates, lot size, GMP, valuation and financials.
The Sonaselection India IPO is a book built public issue worth around ₹141.57 crore. The issue consists entirely of a fresh issue of 1.43 crore shares and is scheduled to open on September 17, 2026 and close on September 21, 2026.
The allotment is expected on September 22, with refunds and demat credit on September 23. The shares are tentatively scheduled to list on NSE and BSE on September 24, 2026.
The price band is fixed at ₹94 to ₹99 per share, with a lot size of 150 shares. At the upper price band, one lot requires ₹14,850.
Choice Capital Advisors Pvt. Ltd. is the lead manager, while Kfin Technologies Ltd. is the registrar.
| Particulars | Details |
|---|---|
| IPO Name | Sonaselection India IPO |
| Issue Size | ₹141.57 crore |
| Issue Type | Book Built |
| Fresh Issue | 1.43 crore shares |
| Price Band | ₹94 to ₹99 per share |
| IPO Opening Date | September 17, 2026 |
| IPO Closing Date | September 21, 2026 |
| Basis of Allotment | September 22, 2026 |
| Refunds | September 23, 2026 |
| Credit to Demat Account | September 23, 2026 |
| IPO Listing Date | September 24, 2026 |
| Lot Size | 150 shares |
| Minimum Retail Investment | ₹14,850 |
| Lead Manager | Choice Capital Advisors Pvt. Ltd. |
| Registrar | Kfin Technologies Ltd. |
| Listing Exchanges | NSE and BSE |
The Sonaselection India IPO has a price band of ₹94 to ₹99 per share and a total issue size of approximately ₹141.57 crore.
The entire issue is a fresh issue, with no offer for sale component.
| Issue | Amount |
|---|---|
| Fresh Issue | ₹141.57 crore |
| Offer For Sale | ₹0 crore |
| Total Issue Size | ₹141.57 crore |
The fresh issue means the company will raise new capital through the IPO rather than existing shareholders selling shares.
The IPO lot size is 150 shares. Retail investors can apply for a minimum of one lot and a maximum of 13 lots.
At ₹99 per share, one lot requires ₹14,850.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 1 | 150 | ₹14,850 |
| Retail Maximum | 13 | 1,950 | ₹1,93,050 |
A maximum retail application of 13 lots requires ₹1,93,050 at the upper price band.
At the upper price band, the company has an approximate market capitalisation of ₹562.32 crore.
| Particulars | Value |
|---|---|
| Upper Price Band | ₹99 |
| Existing Shares | 4.25 crore |
| Fresh Issue | ₹141.57 crore |
| Market Cap | ₹562.32 crore |
| EPS (FY25) | ₹8.09 |
| PE Ratio | 12.23x |
| Industry PE | 22.58x |
The reported PE ratio of 12.23x is below the industry PE of 22.58x based on the provided figures.
Investors should also consider earnings, debt, cash flow and future growth before judging the valuation.
The IPO will be offered to qualified institutional buyers, non institutional investors and retail investors.
| Category | Shares Offered |
|---|---|
| Qualified Institutional Buyers | Not more than 50% |
| Non-Institutional Investors | Not less than 15% |
| Retail Individual Investors | Not less than 35% |
The subscription figure is not available yet because the IPO opens on September 17, 2026.
Sonaselection India has reported strong growth in revenue and profitability.
Net sales increased from ₹93.91 crore in FY2023 to ₹512.70 crore in FY2026, while net profit rose from ₹2.51 crore to ₹33.98 crore.
| Particulars | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Net Sales | 93.91 | 121.09 | 315.95 | 512.70 |
| Total Expenditure | 75.83 | 92.86 | 258.27 | 428.64 |
| Operating Profit | 18.09 | 28.23 | 57.68 | 84.06 |
| Other Income | 0.20 | 0.22 | 0.83 | 3.27 |
| Interest | 2.65 | 4.79 | 15.12 | 20.29 |
| Depreciation | 3.59 | 6.80 | 17.31 | 19.03 |
| Profit Before Tax | 12.04 | 16.86 | 26.08 | 48.00 |
| Provision for Tax | 9.53 | 4.40 | 7.52 | 14.01 |
| Net Profit | 2.51 | 12.46 | 18.56 | 33.98 |
| Adjusted EPS | 0.06 | 0.31 | 0.45 | 0.80 |
Total liabilities and assets increased from ₹90.88 crore in FY2023 to ₹473 crore in FY2026.
Borrowings stood at ₹126.29 crore in FY2026, while current liabilities rose to ₹225.34 crore.
| Particulars | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Share Capital | 3.10 | 3.10 | 15.87 | 42.53 |
| Total Reserves | 22.74 | 35.83 | 54.20 | 61.59 |
| Borrowings | 26.11 | 111.84 | 130.77 | 126.29 |
| Other N/C Liabilities | 6.62 | 7.29 | 14.21 | 17.25 |
| Current Liabilities | 32.31 | 44.56 | 164.29 | 225.34 |
| Total Liabilities | 90.88 | 202.62 | 379.34 | 473.00 |
| Net Block | 49.11 | 75.04 | 169.98 | 184.07 |
| Capital WIP | 0 | 72.57 | 9.56 | 0 |
| Investments | 0 | 0 | 0 | 2.26 |
| Loans & Advances | 0.53 | 1.01 | 0.76 | 2.07 |
| Current Assets | 41.25 | 54.00 | 198.40 | 284.60 |
| Total Assets | 90.88 | 202.62 | 379.34 | 473.00 |
Sonaselection India Operating cash flow remained negative at ₹14.18 crore in FY2025 and ₹4.38 crore in FY2026.
Investing cash flow was also negative, while financing activities generated positive cash flow.
| Particulars | Mar 2025 | Mar 2026 |
|---|---|---|
| Profit from Operations | 26.08 | 48.00 |
| Adjustment | 32.40 | 37.34 |
| Changes in Assets & Liabilities | -67.88 | -83.09 |
| Tax Paid | -4.78 | -6.63 |
| Operating Cash Flow | -14.18 | -4.38 |
| Investing Cash Flow | -50.42 | -22.22 |
| Financing Cash Flow | 60.67 | 26.41 |
| Net Cash Flow | -3.93 | -0.19 |
The negative operating cash flow is an important factor to monitor alongside the company's revenue and profit growth.
The IPO opens on September 17, 2026 and closes on September 21, 2026.
| IPO Event | Date |
|---|---|
| IPO Opens | September 17, 2026 |
| IPO Closes | September 21, 2026 |
| Basis of Allotment | September 22, 2026 |
| Refunds | September 23, 2026 |
| Credit to Demat Account | September 23, 2026 |
| IPO Listing | September 24, 2026 |
The Sonaselection India IPO GMP is ₹0, as updated on September 14, 2026 at 2:02 PM.
With the upper price band of ₹99, the estimated listing price based on the current GMP is ₹99, indicating an estimated gain or loss of 0%.
The GMP has remained at ₹0 in the latest six session updates. However, GMP is an unofficial indicator and can change before listing.
| GMP DateIPO PriceGMPEst. Listing Price**(cap price + GMP)Est. Profit*Last Updated** | |||||
|---|---|---|---|---|---|
| 14-09-2026<br> | ₹99.00 | ₹0 ─ | ₹99 (0.00%) | ₹0 | 14-Sep-2026 14:02 |
| 13-09-2026<br> | ₹99.00 | ₹0 ─ | ₹99 (0.00%) | ₹0 | 13-Sep-2026 23:35 |
| 12-09-2026<br> | ₹99.00 | ₹0 ─ | ₹99 (0.00%) | ₹0 | 12-Sep-2026 23:36 |
| 11-09-2026<br> | ₹99.00 | ₹0 ─ | ₹99 (0.00%) | ₹0 | 11-Sep-2026 23:31 |
| 10-09-2026<br> | ₹99.00 | ₹0 ─ | ₹99 (0.00%) | ₹0 | 10-Sep-2026 23:28 |
| 09-09-2026<br> | ₹ | ₹0 ─ | ₹ (%) | 9-Sep-2026 11:50 |
The ₹141.57 crore Sonaselection India IPO has a price band of ₹94 to ₹99 per share and a retail lot size of 150 shares. The minimum retail investment is ₹14,850.
The company has reported strong revenue and profit growth between FY2023 and FY2026. However, its negative operating cash flow remains an important factor for investors to consider.
The current GMP of ₹0 indicates no premium in the grey market at the latest update. GMP can change before the IPO listing and should not be treated as a guaranteed listing price.
Investors should review the RHP, financials and other official disclosures before making an investment decision.
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