Sonalis Consumer Products IPO: Issue details, GMP, other key things to know
Sonalis Consumer Products IPO is an SME IPO opening on June 7 and is a fresh issue of 9.44 lakh shares. The IPO is Fixed Price Issue IPO.
PremiumSonalis Consumer Products Ltd, the distributor of nutritious bars and healthy snacks, will launch its initial public offering (IPO) this week. The company has a large product portfolio of healthy snacks and food and its products are distributed across 3 states Maharashtra, Gujarat and Goa.
Sonalis Consumer Products IPO is an SME IPO opening on June 7 and is a fresh issue of 9.44 lakh shares. The IPO is Fixed Price Issue IPO.
Here are 10 key things to know about Sonalis Consumer Products IPO:
1. Bidding Dates: June 7 to June 9
2. Issue price: ₹30 per share
3. Issue size: ₹2.83 crore. The public issue consists of a fresh issuance of 9.44 lakh shares of face value of ₹10 each for ₹30, aggregating up to ₹2.83 crore.
4. Lot Size: The lot size of Sonalis Consumer Products IPO is 4,000 shares. The minimum investment amount for retail investors would be ₹1,20,000.
5. Basis of allotment: The basis of share allotment of the shares will be fixed on June 14, and the initiation of refunds will take place on June 15. The shares will be credited to investors' demat accounts on June 16.
Also Read: IKIO Lighting IPO to Sonalis Consumer Products IPO: two upcoming issues in the coming week
6. IPO Listing Date: The shares of Sonalis Consumer Products will be listed on June 19 at BSE SME.
7. Objective of the issue: The company proposes to utilise the net IPO proceeds to finance the working capital requirements, general corporate purposes and to meet issue expenses.
8. Lead managers: Expert Global Consultants Pvt Ltd is the sole lead manager for the IPO.
9. Sonalis Consumer Products IPO Registrar: Purva Sharegistry India Pvt Ltd is the registrar of the issue.
10. Sonalis Consumer Products IPO GMP today: Sonalis Consumer Products shares are not trading at any premium or discount in the grey market.The Sonalis Consumer Products IPO GMP today is ₹0. Therefore, the expected listing price for Sonalis Consumer Products shares, considering the issue price of ₹30, is ₹30 per share.
Also Read: IKIO Lighting IPO: Issue details, GMP, other key things to know
For the period ending December 2022, Sonalis Consumer Products posted a net profit of ₹0.68 crore upon a revenue of ₹4.20 crore. The company’s total assets were ₹6.49 crore.
In its DRHP, Sonalis Consumer Products said its industry peers include DFM Foods, Nakoda Group of Industries, Prataap Snacks and Annapurna Swadisht.
Sonalis Consumer Products took over the business distribution network of Appetite Food which was running its business since March 5, 2020. Sonalis Consumer Products absorbed the company including all its movable assets, current assets and liabilities for ₹12.87 lakh in terms of Business Transfer Agreement dated May 15, 2022.
Sonalis Consumer’s product portfolio includes Granola Bar, Cheeseling, Healthy Laddu and Puffs, Diet Bhel, Chakli and Sev. All the products are manufactured at its manufacturing facilities located in Vasai.
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