On Monday, September 23, the shares of Sodhani Academy of Fintech Enablers Ltd, a small and medium enterprise (SME), made an impressive trading debut by listing at a premium of almost 33 percent on the BSE SME platform.
At Rs 53 at the start of the session, the stock had increased 32.5 per cent from its Rs 40 per share initial public offering (IPO) price. The share price increased by an additional 5 per cent minutes after the session began, reaching the upper circuit limit at Rs 55.65.
Listing gains on Sodhani IPO
Successful bidders who were allotted shares in the primary issue were sitting on listing gains of Rs 39,000 (Rs 13 x 3,000) as soon as the stock started to trade on exchanges because the minimum bid quantity in the Sodhani Academy of Fintech Enablers IPO was 3,000 shares.
IPO details
September 12–September 17 was the subscription period for the Rs 6.12-crore Sodhani Academy initial public offering.
Total Investor subscription
Investors responded massively to the public offer, which was oversubscribed by an astounding 439 times over the course of the three-day bidding period. Of the 14.52 lakh shares on offer, investors had applied for 63.7 crore shares.
At more than 511 times, the non-institutional investors (NII) category had the highest subscription rate. The area set aside for individual investors, however, was 358.5 times overbooked.
Price band and lot size
The IPO for Sodhani Academy of Fintech Enablers had a set price. It was composed of an offer-for-sale (OFS) of 5.6 lakh shares, totalling Rs 2.24 crore, and a new issuance of 9.7 lakh shares, totalling Rs 3.88 crore.
In the initial public offering, 3,000 shares were offered at Rs 40 apiece. Subscribers could place bids for multiples of the minimum of 3,000 shares.
Company financials
Compared to Rs 2.03 crore in 2022-2023 and Rs 3.07 crore in the fiscal year 2023-2024, the company's revenue climbed by 51 per cent. In contrast, profit after tax (PAT) increased by 32 per cent to Rs 1.8 crore in FY24 from Rs 1.38 crore in FY23.
