Upper Circuit on Debut: Sona Selection India Shares Jump 5% After Listing at Premium
Shares of Rajasthan-based integrated textile manufacturing and processing firm Sona Selection India Limited made a positive debut on domestic bourses on Thursday, September 24, quickly gaining upward momentum to hit their daily statutory price ceiling. The equity shares debuted on the National Stock Exchange (NSE) at ₹102.21 per share, representing a 3.34 percent premium over the upper IPO issue price of ₹99. Simultaneously, on the Bombay Stock Exchange (BSE), the stock listed at ₹102 per share, marking a 3.03 percent premium over the issue band. Aggressive buying activity followed the opening exchanges, and by 12:30 PM, the stock rallied another 5 percent to lock firmly into its upper circuit limit at ₹107.09, signaling sustained post-listing accumulation across trading desks.
Entirely Fresh ₹141.6 Crore Issue Closed with 2x Subscription
The public issue, structured with a price band set between ₹94 and ₹99 per equity share, opened for initial bidding on September 17 and closed with an overall subscription rate of 2 times the offered size. The public offering raised ₹141.57 crore entirely through the issuance of 14.3 million fresh equity shares at the upper price threshold, featuring zero Offer for Sale (OFS) dilution from existing promoters or pre-IPO stakeholders. In cumulative terms, the primary offering attracted formal bids for 2,01,04,050 equity shares against the 1,00,10,000 shares placed on offer across institutional, non-institutional, and retail tranches.
Category-Wise Breakdown: Retail Book Leads Demand at 2.5 Times
Investor demand across the primary book reflected steady participation from non-institutional and individual bidders. The retail individual investor (RII) quota recorded the strongest demand, getting subscribed 2.50 times by the conclusion of the bidding window. The non-institutional investor (NII/HNI) category followed closely with an oversubscription level of 1.99 times the allocated quota. Meanwhile, the qualified institutional buyers (QIB) segment was subscribed 1.16 times, ensuring total institutional absorption of the newly minted shares ahead of listing day.
Bhilwara Manufacturing Hub, Debt Repayment, and Machinery Modernization
Founded and incorporated in 2022, Sona Selection India operates as an integrated textile fabrication and fabric-processing player with its core production assets anchored in Bhilwara, Rajasthan. Widely recognized as India’s textile city, Bhilwara provides the enterprise with direct access to an established industrial supply ecosystem, specialized textile engineering talent, and logistical connectivity across western and northern Indian garment corridors. The company has earmarked the net proceeds raised from the ₹141.6 crore fresh issue toward prepaying and clearing outstanding balance-sheet debt, procuring advanced industrial plant and machinery to expand manufacturing throughput, and funding working capital and general corporate operational needs.
