The Sodhani Academy of Fintech Enablers initial public offering (IPO) concluded on Tuesday, September 17, with a phenomenal subscription rate of over 438 times.
Due to strong demand from non-institutional investors, the BSE SME issue was booked 438.77 times.
In contrast to the 14,52 lakh shares on offer, bids for the financial education, training, and consultancy services provider’s initial public offering (IPO) totalled over 63.71 crore shares.
Subscription across categories
Applications were received for over 37.13 crore shares in the Non-Institutional Investors category, out of the 7.26 lakh shares up for bid. 511.45 times was the quota booked by the NIIs.
With bids for more than 26.02 crore shares against the 7.26 lakh shares set aside for the segment, the retail portion was booked 358.47 times.
According to bid data on BSE (Bombay Stock Exchange), the QIBs put in bids for 55.35 lakh shares.
✅Sodhani Academy of Fintech Enablers Limited IPO
The company is providing training, consultancy and learning services in financial literacy and awareness segment.
IPO Size: 6.12 Cr.
Good Revenue & PAT Growth YoY.
PAT Margin: >60%, very good
IPO at PE multiple of…
— PRAFULL SURANA (@SuranaPrafull) September 17, 2024
IPO size, structure and price band
A book-building issue valued at Rs 6.12 crore was the Sodhani Academy of Fintech Enablers IPO. It included 5.6 lakh shares for offer-for-sale, worth Rs 2.24 crore, and a new issue of 9.7 lakh shares, with the goal of raising Rs 3.88 crore. The IPO price per share was set at Rs 40.
Subscription and listing timetable
The subscription period for the Sodhani Academy IPO ran from September 12 to September 17. On September 18, the IPO allotment status is anticipated to be finalised.
On September 19, shares will be deposited into winning bidders’ Demat accounts, and that same day, refunds for unsuccessful bidders will begin.
September 20 has been set as the provisional date for the Sodhani Academy initial public offering. The BSE SME platform will list the stock.
Registrar and book-running lead manager
For the Sodhani Academy of Fintech Enablers IPO, Cameo Corporate Services Limited is acting as the registrar, and Srujan Alpha Capital Advisors LLP is the book-running lead manager. For the IPO, Prabhat Financial Services has been appointed as the market maker.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing in IPOs involves risks and potential volatility. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions. The author and publisher are not responsible for any financial losses incurred by readers.
