Sotefin Bharat IPO listing: Sotefin Bharat share price made a positive debut on the BSE SME on Thursday, 23 July, and extended gains to hit its upper circuit despite weak market sentiment.
The SME stock opened at ₹205, up 9.6% from the issue price of ₹187, and jumped further to hit the 5% upper price band of ₹215.25. Around 10:30 AM, the stock was locked at its upper circuit, which is 15% up from the issue price, while equity benchmark Sensex was 109 points, or 0.14%, down at 76,646.
The listing of Sotefin Bharat shares exceeded grey-market expectations, with the last grey-market premium (GMP) at ₹2.50, suggesting the stock could list at ₹189.50, a premium of 1.34% over the issue price.
Sotefin Bharat IPO details
Sotefin Bharat IPO opened for public subscription on Thursday, 16 July, and concluded on Monday, 20 July. The price band of the Sotefin Bharat IPO was fixed at ₹178 to ₹187 per share.
The SME IPO was entirely a fresh issue of 48 lakh shares, aimed at raising about ₹90 crore, which the company will use 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.
The issue saw an overall subscription of over 3 times, with the retail portion booked nearly 4 times, and the NII segment subscribed to 6 times.
The company finalised the share allotment on Tuesday, 21 July.
Sotefin Bharat provides mechanised and automated parking solutions, delivering comprehensive turnkey services. Its 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.
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