Sodhani Academy IPO Opens On Sept. 12 — Check Price Band, Offer Size And Other Details
The company aims to raise Rs 6.12 crore.
The subscription window for the initial public offering of Sodhani Academy of Fintech Enablers Ltd. is set to open on Sept. 12. The public offer, aimed at raising Rs 6.12 crore from the market, consists of a fresh issue of 9.7 lakh shares worth Rs 3.88 crore and an offer for sale component of 5.6 lakh shares aggregating to Rs 2.24 crore.
The IPO subscription window will close on Sept. 17. Allotment of shares is expected to be finalised on Sept. 18. This will be followed by initiation of refunds for non-allottees, and transfer of shares into the demat account of the successful bidders on Sept. 19.
The IPO listing date is Sept. 20, and the company is likely to list on the BSE SME platform.
The BSE SME IPO is a fixed price issue with shares offered at Rs 40 apiece. The minimum lot size for application by retail investors is 3,000 shares, totalling an investment of Rs 1.20 lakh.
The IPO registrar is Cameo Corporate Services Ltd., and Srujan Alpha Capital Advisors LLP is the book-running lead manager of the issue.
Prabhat Financial Services is the market maker for the public offer.
Business
Sodhani Academy of Fintech Enablers is engaged in offering financial training, consulting and learning services. Founded in 2009, the company focuses on financial literacy and awareness.
The company has its registered office and training centre in Jaipur.
Use Of Proceeds
Sodhani Academy of Fintech Enablers will use the proceeds from the fresh issue to build a content studio and offline training centre, procure IT hardware and software, and develop content for its course material.
It will also use the proceeds to enhance brand visibility and awareness, as well as develop its Learning Management System application. The rest of the funds will be used for general corporate purposes.
Financial Performance
Sodhani Academy of Fintech Enablers Ltd. reported a revenue of Rs 3.06 crore in fiscal 2024, up by 50.87% from the previous year when it reported a revenue of Rs 2.03 crore.
The Profit after tax for the period increased 31.40% year-on-year to Rs 1.83 crore during this period, as compared to Rs 1.39 crore in fiscal 2023.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
