The Sahasra Electronics Solutions IPO saw strong demand from investors, with the overall subscription reaching 122.06 times on its final day on Monday. The IPO was well-received by different investor categories, with qualified institutions (QIBs) subscribing 100.80 times, non-institutional buyers subscribing 260.46 times, and retail investors subscribing 74.85 times. The SME issue was subscribed 5.07 times on Day 1 and 13.94 times on Day 2.
The Rs 186-crore book-building issue was the second-largest SME IPO of 2024, after KP Green Engineering Ltd.'s Rs 189.5 crore public offer. The IPO was also India’s biggest SME IPO at NSE.
The IPO, worth Rs 186.16 crore, consists of a fresh issue of 60.78 lakh shares amounting to Rs 172.01 crore and an offer for sale of 5 lakh shares valued at Rs 14.15 crore. The subscription period for the IPO opened on September 26, and ended on September 30.
The share allotment for Sahasra Electronics Solutions IPO is expected to be finalised on October 1, and the shares are likely to be listed on October 4 at NSE SME (Emerge). The price band for the IPO was set between Rs 269 and Rs 283 per share, with retail investors required to invest a minimum of Rs 113,200 for one lot of 400 shares.
Investors who bid for the issue can check the IPO allotment status on Bigshare Services.
How to check Sahasra Electronics Solutions IPO allotment status on Bigshare Services
Visit the IPO allotment page on Bigshare Services here.
Select any one server to check your IPO Allotment Status.
Choose 'Sahasra Electronics Solutions Limited' from the list of companies. (The name will be displayed once the share allocation is finalised)
In the 'Selection Type' dropdown, choose either Application Number, Beneficiary ID, or PAN Number.
Enter the required information and complete the 'captcha' to verify that you are not a robot.
Finally, click the 'Search' button to check your allotment status.
Sahasra Electronics Solutions IPO GMP
The grey market premium (GMP) of Sahasra Electronics Solutions IPO was Rs 200, as of 6:04 a.m. on October 1, indicating a 70.67% premium over the IPO price, according to Investorgain. Based on the GMP, the estimated listing price of the stock is likely to be Rs 483 per share.
However, investors must note that GMP is not an official price quote for the stock and is based on speculation.
Sahasra Electronics Solutions Business And Financials
Sahasra Electronic Solutions Limited specialise in the electronic system design and manufacturing (ESDM) sector. The company offers a diverse range of products, including printed circuit board assemblies (PCBAs), LED lighting solutions and a variety of computer and IT accessories.
The company exports over 80% of its products to global markets in countries USA, UK, Germany and Canada.
Use of Proceeds
Sahasra Electronic Solutions Ltd. plans to use the net proceeds from the offer to fund its capital expenditure for the setting up of additional plant and machinery at a new facility in Rajasthan.
The company will further use the funds to invest in its subsidiary Sahasra Semiconductors Pvt.
Additionally, a portion of the funds will be used for working capital requirements and general corporate purposes.
Financial Performance
Sahasra Electronic Solutions Ltd. reported a stellar 866% year-on-year rise in its revenue for FY24. The company posted a revenue of Rs 102.78 crore in FY24, compared to Rs 10.63 crore in FY23. Its profit after tax grew many folds to Rs 32.62 crore in FY24, up from Rs 2.3 crore in FY23.
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