The Sodhani Academy of Fintech Enablers Limited IPO opened to a strong demand on Thursday, September 12, as the public issue was fully subscribed within hours of launch.

The BSE SME IPO was subscribed 1.29 times, driven by high demand from the retail investors. Sodhani Academy IPO received bids for 18.78 lakh shares compared to 14.52 lakh shares on offer, as per the BSE data till 3:15 pm.

The financial education, training and consultancy services provider’s initial public offer is open for subscription from September 12 to September 17. The retail investors booked their quota 2.13 times with bids for 15.48 lakh shares against 7.26 lakh shares set aside for the category. In the Non-Institutional Investors’ (NIIs) category the issue was booked 45% with applications for 3.3 lakh shares against 7.26 lakh shares reserved for the segment.

The investors interested in the Sodhani Academy IPO subscription should check price, offer size, minimum investment and key dates before applying for shares.

Sodhani Academy IPO offer size, price band and other details

Sodhani Academy IPO is a book-building issue worth ₹6.12 crore. The initial public offering is a combination of a fresh issue of 9.7 lakh shares, amounting to ₹3.88 crore, and an offer-for-sale (OFS) component of 5.6 lakh share, totalling to ₹2.24 crore.

The Sodhani Academy IPO price has been fixed at ₹40 per share.

The minimum lot size for an application is 3,000 shares for retail investors, amounting to an investment of ₹1,20,000. For High Networth Individuals (HNIs), the minimum application size is 2 lots, or 6,000 shares, aggregating to ₹2,40,000.

Sodhani Academy IPO dates

After the subscription, Sodhani Academy IPO allotment status is expected to be finalised on September 18. Shares will be transferred to the Demat accounts of successful bidders on September 19 and the company will also initiate refunds for non-allottees the same day.

Shares of Sodhani Academy of Fintech Enablers Limited are scheduled to make market debut on September 20. The stock will be listed on the BSE SME platform.

Sodhani Academy IPO registrar

The registrar for the Sodhani Academy IPO is Cameo Corporate Services Limited, while the book-running lead manager is Srujan Alpha Capital Advisors LLP.

Prabhat Financial Services is the market maker for Sodhani Academy of Fintech Enablers IPO. The company has set aside 78,000 shares for the market marker.

Also read: Deccan Transcon Leasing IPO to open on Sept 13: Check price band, lot size, key dates and more

Sodhani Academy IPO objective

The company plans to utilise the net proceeds from IPO to fund several key initiatives, including the development of a content studio and offline training infrastructure, procurement of information technology (hardware and software), creation of course material, and enhancement of brand visibility and awareness.

Additionally, the funds will be used for the development of a Learning Management System (LMS) application and for general corporate purposes.

About Sodhani Academy of Fintech Enablers Limited

Established in 2009, Sodhani Academy of Fintech Enablers Limited provides financial education, training and consultancy services.

The company is primarily focused on financial education catering to diverse financial concepts. The company serves a variety of participant categories through financial education and financial literacy courses, seminars, events, and education materials.

The Finance Ministry has eased the minimum public float requirements for companies eyeing a debut at the International Financial Services Centre (IFSC).

The Department of Economic Affairs, a wing under the ministry, has "amended the Securities Contracts Regulation Rules (SCRR), 1956 to ease the listing requirements" for Indian companies seeking to list on international exchanges within the IFSC, a government release stated on Thursday, August 29.

Notably, the Gujarat International Finance Tec City (GIFT City) in Gujarat's Gandhinagar is India's first International Financial Services Centre (IFSC) under Special Economic Zone Act, 2005.

What has changed?

The new rules stipulate that for Indian companies desiring to list solely on international exchanges in IFSCs, the minimum offer and allotment to the public as per the offer document "shall be at least 10% of the post-issue capital". Presently, firms listed on the local bourses are required to maintain a minimum public float of 25%.

"The continuous listing requirement for such companies has also been set at 10%," the release added.

How will the easing of norms help?

The changes will make IFSC listing more attractive for companies, analysts said. This will encourage Indian and foreign companies to list their securities in stock exchanges located in IFSC mandating lower dilution of ownership, said Nangia Andersen India Director (regulatory) Mayank Arora.

"While companies consider multiple factors such as liquidity, cost of listing, regulatory environment, etc. this amendment would certainly nudge Companies (both foreign and domestic) to explore the option of listing on stock exchanges located in IFSCs," he told news agency PTI.

According to the official statement, the amendments have been introduced by the Department of Economic Affairs to bring the requirements "at par with global standards".

Excellent Wires and Packaging IPO witnessed strong demand, with the issue being subscribed 2.40 times so far on Thursday, the second day of bidding.

The retail portion of the IPO was subscribed 4.44 times the allotted quota. The non-institutional investors (NIIs) category attracted 0.37 times the subscription.

Excellent Wires and Packaging IPO price band, lot size and other details

The ₹12.6-crore initial public offering of Excellent Wires and Packaging Limited is completely a fresh issue of 14 lakh shares. The price band has been fixed at ₹90 per share.

Retail investors interested in applying for the Excellent Wires and Packaging IPO can place bids for at least a single lot size of 1,600 shares, which aggregates to an investment of ₹1,44,000. On the other hand, high-net-worth individuals (HNIs) can apply for a minimum of two lots or 3,200 shares, aggregating to ₹2,88,000.

The money raised will be used to acquire land, construct a building, and acquire plant and machinery. A portion will also be used to fund working capital requirements and general corporate purposes.

Excellent Wires and Packaging IPO: Key dates

Excellent Wires and Packaging IPO subscription will close on September 13. The share allotment status is likely to be finalised by September 16. The company will initiate refunds for unsuccessful bidders on September 17 and successful bidders will receive shares in their Demat accounts the same day. Shares of the company will be listed on the NSE SME platform, Emerge. The tentative IPO listing date is September 19.

Bigshare Services Pvt Ltd is the public offer’s registrar, and Inventure Merchant Banker Services Pvt Ltd is the book-running lead manager.

Excellent Wires and Packaging Limited, incorporated in March 2021, manufactures a wide range of wires and wire ropes. The company’s product portfolio includes spring steel wire, high carbon wire, galvanised wire (GI Wire), and other such wires.

Excellent Wires and Packaging IPO: Key financials

In FY24, Excellent Wires and Packaging Limited’s revenue increased over 6% to ₹15.4 crore compared to ₹14.48 crore in FY23. The company’s profit-after-tax increased to ₹82.98 lakh in FY24, up over 695% against ₹10.43 lakh in FY23. In FY24 Excellent Wires and Packaging’s net worth grew over 2220% to ₹3.97 crore compared to ₹17.11 lakh in FY23.

The Sodhani Academy of Fintech Enablers Limited IPO opened to a strong demand on Thursday, September 12, as the public issue was fully subscribed within hours of launch.

The BSE SME IPO was subscribed 1.29 times, driven by high demand from the retail investors. Sodhani Academy IPO received bids for 18.78 lakh shares compared to 14.52 lakh shares on offer, as per the BSE data till 3:15 pm.

The financial education, training and consultancy services provider’s initial public offer is open for subscription from September 12 to September 17. The retail investors booked their quota 2.13 times with bids for 15.48 lakh shares against 7.26 lakh shares set aside for the category. In the Non-Institutional Investors’ (NIIs) category the issue was booked 45% with applications for 3.3 lakh shares against 7.26 lakh shares reserved for the segment.

The investors interested in the Sodhani Academy IPO subscription should check price, offer size, minimum investment and key dates before applying for shares.

Sodhani Academy IPO offer size, price band and other details

Sodhani Academy IPO is a book-building issue worth ₹6.12 crore. The initial public offering is a combination of a fresh issue of 9.7 lakh shares, amounting to ₹3.88 crore, and an offer-for-sale (OFS) component of 5.6 lakh share, totalling to ₹2.24 crore.

The Sodhani Academy IPO price has been fixed at ₹40 per share.

The minimum lot size for an application is 3,000 shares for retail investors, amounting to an investment of ₹1,20,000. For High Networth Individuals (HNIs), the minimum application size is 2 lots, or 6,000 shares, aggregating to ₹2,40,000.

Sodhani Academy IPO dates

After the subscription, Sodhani Academy IPO allotment status is expected to be finalised on September 18. Shares will be transferred to the Demat accounts of successful bidders on September 19 and the company will also initiate refunds for non-allottees the same day.

Shares of Sodhani Academy of Fintech Enablers Limited are scheduled to make market debut on September 20. The stock will be listed on the BSE SME platform.

Sodhani Academy IPO registrar

The registrar for the Sodhani Academy IPO is Cameo Corporate Services Limited, while the book-running lead manager is Srujan Alpha Capital Advisors LLP.

Prabhat Financial Services is the market maker for Sodhani Academy of Fintech Enablers IPO. The company has set aside 78,000 shares for the market marker.

Also read: Deccan Transcon Leasing IPO to open on Sept 13: Check price band, lot size, key dates and more

Sodhani Academy IPO objective

The company plans to utilise the net proceeds from IPO to fund several key initiatives, including the development of a content studio and offline training infrastructure, procurement of information technology (hardware and software), creation of course material, and enhancement of brand visibility and awareness.

Additionally, the funds will be used for the development of a Learning Management System (LMS) application and for general corporate purposes.

About Sodhani Academy of Fintech Enablers Limited

Established in 2009, Sodhani Academy of Fintech Enablers Limited provides financial education, training and consultancy services.

The company is primarily focused on financial education catering to diverse financial concepts. The company serves a variety of participant categories through financial education and financial literacy courses, seminars, events, and education materials.