Sotefin Bharat IPO day 1: The initial public offering (IPO) of Sotefin Bharat opened for public subscription on Thursday, 16 July. The SME IPO is entirely a fresh issue of 48 lakh shares, aimed at raising about ₹90 crore.
The BSE SME IPO is witnessing tepid buying interest, while grey-market trends indicate the stock could list at a modest premium to the issue price.
Meanwhile, ahead of the share sale, the company raised ₹25.58 crore by allocating 13,68,000 shares to anchor investors at a price of ₹187 per share.
Sotefin Bharat IPO GMP
As per grey market sources, Sotefin Bharat IPO GMP on Thursday morning was ₹27. This indicated the stock could list at ₹214 on the BSE SME, a premium of over 14% over the issue price of ₹187.
Sotefin Bharat IPO subscription status
By 1 PM on Thursday, the issue had seen an overall subscription of 0.12 times, with the retail portion booked 0.20 times, and the segment reserved for NIIs subscribed to 0.11 times. QIB’s portion was yet to see any subscription till that time.
Sotefin Bharat IPO details
1. Sotefin Bharat IPO date: The Sotefin Bharat IPO opened for subscription on Thursday, 16 July. It will close on Monday, 20 July.
2. Sotefin Bharat IPO price: The price band of the public issue has been fixed at ₹178 to ₹187 per share.
3. Sotefin Bharat IPO objects: According to the RHP, the company will use the net proceeds from the issue for setting up a manufacturing facility in Kolkata, to fund capital expenditure requirements for the proposed new office premises, and for meeting working capital requirements, as well as for general corporate purposes.
4. Sotefin Bharat IPO size: The BSE SME IPO is entirely a fresh issue of 48,00,000 shares of face value of ₹10 each. There is no offer for sale (OFS) portion in the issue.
5. Sotefin Bharat IPO lot size: Retail investors can bid for a minimum and maximum of 1,200 shares, aggregating to ₹2,24,400.
6. Sotefin Bharat IPO reservation: QIBs, including anchor investors, have been offered 22,80,000 shares (47.50% of the total issue). Retail investors have been offered 15,96,000 shares, or 33.25% of the total issue. The company has reserved 6,84,000 (14.25% of the total issue) for NIIs.
7. Sotefin Bharat IPO allotment date: The company is expected to finalise the share allotment on Tuesday, 21 July. Successful bidders can expect shares of the company in their demat accounts on the next business day, Wednesday, 22 July, and bidders who fail to get the allocation may get a refund on the same day.
8. Sotefin Bharat IPO book-running lead manager and registrar: According to the issue’s RHP, Choice Capital Advisors Private Limited is the book-running lead manager, and Bigshare Services Private Limited is the registrar of the Sotefin Bharat IPO.
9. Sotefin Bharat IPO listing: As per SEBI’s T+3 rule of IPO listing, the IPO is proposed for listing on the BSE SME on Thursday, 23 July.
10. Sotefin Bharat business overview: Sotefin Bharat provides mechanised and automated parking solutions, delivering comprehensive turnkey services.
“Our key offerings include fully automated robotic parking systems, puzzle parking systems, tower parking systems, and stack parking systems. We provide customised end-to-end solutions, including but not limited to system design, manufacturing, installation, operations and maintenance services, turnkey execution and after-sales services to our customers,” the issue’s RHP says.
“Our order book reflects a diversified customer base, comprising private real estate developers as well as government bodies across various Indian cities,” reads the RHP.
The company’s revenue from operations increased from ₹56.28 crore in FY24 to ₹93.78 crore in FY25 and to ₹116.75 crore in FY26.
Profit for FY24 was ₹6.25 crore, which rose to ₹11.31 crore in FY25, and to ₹17.37 crore in FY26.
Disclaimer: This article is for educational purposes only and does not constitute investment advice. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
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