Sona machinery IPO opens: Price band at ₹136-143, check latest GMP here

Sona machinery IPO: The equity shares will be listed on NSE Emerge with a floor price of ₹136 and a cap price of ₹143.

Sona machinery IPO: The initial public offering for Sona Machinery will open today (March 5) and close on March 7. The IPO of the agro-processing original equipment manufacturer will see a fresh issue of up to 3,624,000 equity shares with a face value of ₹10 per share. The equity shares will be listed on NSE Emerge with a floor price of ₹136 and a cap price of ₹143.

Sona machinery IPO: The Sona machinery IPO opens for subscription on March 5. Check details here

Sona Machinery IPO: Issue details

From the IPO, a minimum of 5.08% is reserved for market makers while the portion for Qualified Institutional Buyers (QIBs) will be at 50%. Non-institutional portion will be not less than 15% of the total issue while the portion for retail buyers will comprise a minimum of 35% of the equity shares on offer.

Sona Machinery IPO: Lot size

Bids can be made for a minimum of 1,000 equity shares or in multiples thereof.

Sona Machinery IPO: Book running lead manager

Hem Securities Limited is the sole book-running lead manager while Maashitla Securities Pvt. Ltd is the registrar of the issue.

Sona Machinery IPO: Objectives of the IPO

The net proceeds from the IPO will be used for capital expenditure involved in setting up a new manufacturing unit at Ghaziabad and in the repayment of outstanding lines of credit used to purchase machinery, the company said. Remaining proceeds will be used for general corporate purposes.

Sona Machinery IPO: Promoters

Vasu Naren and Shweta Baisla are the promoters of the company.

Sona Machinery IPO: GMP today

The grey market price of the IPO ranges from ₹70 to ₹72 per share, as per unlisted market tracking websites.