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The initial public offer (IPO) of Sonalis Consumer Products received bids for 15,48,000 shares as against 9,44,000 shares on offer as per BSE data as of 17:00 hours on Wednesday, 7 June 2023. The issue was subscribed 1.63 times.
The issue opened for bidding on Wednesday (7 June 2023) and it will close on Friday (9 June 2023). The IPO price was fixed at Rs 30 per share. The minimum order quantity is 4,000 shares. The equity shares are proposed to be listed on the SME platform of BSE.
The IPO comprises fresh issue of 9,44,000 equity shares. The promoter and promoter group shareholding will dilute to 38.59% post IPO from 73.12% pre-IPO
About 52,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 8,92,000 equity shares. The issue and the net issue will constitute 47.22% and 44.62%, respectively of the post issue paid-up equity share capital of the company
The company intends to utilize the net proceeds to part finance the working capital requirements, general corporate purpose and to meet issue expenses.
Sonalis Consumer Products is engaged in the manufacturing of nutria-bars and other healthy snacks Items. Its diversified product portfolio enables to cater to a wide range of taste preferences and consumer segments, including children, youth and adults. Its products in the Nutri-Bars and Laddu (Indian snacks), are primarily targeted at the youth and Adults while our other products are for all consumer segments. The company has total 9 employees.
The company recorded a revenue from operations of Rs 4.20 crore and net profit of Rs 0.68 crore for the period ended on 31 December 2022.
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