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The scrip was listed at Rs 38, at a premium of 26.67% to the issue price. The scrip hit a high of Rs 39.90 and a low of Rs 38. About four lakh shares of the company changed hands at the counter.
The initial public offer (IPO) of Sonalis Consumer Products was subscribed 41.13 times. The issue opened for bidding on 7 June 2023 and it closed on 9 June 2023. The IPO price was fixed at Rs 30 per share.
The IPO comprised fresh issue of 9,44,000 equity shares. The promoter and promoter group shareholding diluted to 38.59% post IPO from 73.12% pre-IPO
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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