Sodhani Academy of Fintech Facilitators, IPO, Day 4: The initial public offering opened for subscription on September 12, 2024 and will close on September 17, 2024. Let’s take a look at the subscription status, GMP and other key details.
Sodhani Academy IPO: Subscription Status
The IPO of Sodhani Academy of Fintech Enablers had been subscribed 90.23 times as of 11:40 am on Tuesday, September 17. The public issue had received subscriptions 137.36 times in the retail category and 43.10 times in the NII category.
Sodhani Academy IPO: GMP
The IPO GMP of Sodhani Academy of Fintech Enablers was +15 according to Investorgain.com. This suggests that Sodhani Academy shares are selling at ₹15% more on the gray market, above the issue price.
After factoring in the grey market premium and the issue price of Sodhani Academy of Fintech Enablers, the expected listing price of ₹55 per share is therefore 37.50 percent higher than the IPO price of ₹40.
Sodhani Academy IPO: Key details
On September 12, 2024, subscriptions for the IPO of Sodhani Academy of Fintech Enablers have commenced. The IPO will close on September 17, 2024. On Wednesday, September 18, 2024, the allocation for the IPO of Sodhani Academy of Fintech Enablers is expected to be completed. The proposed listing date for the IPO of Sodhani Academy of Fintech Enablers on BSE SME is Friday, September 20, 2024.
The IPO price of Sodhani Academy of Fintech Enablers is ₹40 per share. An application must include a minimum lot of 3,000 shares. Retail investors are required to invest a minimum of ₹120,000. HNI investments require a minimum lot size of two lots, or 6,000 shares, totalling ₹2,400,000.
Sodhani Academy IPO: Objectives of the Issue
Sodhani Academy of Fintech Enablers’ initial public offering (IPO) is worth ₹6.12 crore. The offer comprises 5.6 lakh shares which are part of the offer for sale, for a total ₹2.24 crore, while the company is also issuing 9.7 lakh new shares, totalling ₹3.88 crores.
The company plans to use the net proceeds from the new issue to develop content for course materials, build content studios and offline training infrastructure, purchase information technology hardware and software, improve brand visibility and awareness, develop applications for learning management systems (LMS) and for general corporate purposes.
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