Sonaselection India IPO launches at Rs 94-99 per share
Sonaselection India, a Rajasthan-based fabric manufacturer, is launching its initial public offering on September 17 with a price band of Rs 94-99 per share, targeting a raise of approximately Rs 141.6 crore. The company plans to allocate IPO proceeds toward debt repayment, machinery acquisition, and general corporate purposes ahead of its listing on NSE and BSE.
Sonaselection India, a fabric manufacturing company based in Rajasthan, has announced the opening of its IPO on September 17. The offering is priced within a band of Rs 94-99 per share, with the company aiming to raise around Rs 141.6 crore through the public issuance. The announcement indicates the company's strategy to transition from private to public ownership through listing on both the National Stock Exchange and Bombay Stock Exchange.
According to the IPO prospectus details, the Rajasthan-based fabric maker plans to deploy the capital raised through multiple channels. The proceeds will be utilized for repaying existing borrowings, acquiring new machinery and equipment to enhance production capacity, and meeting general corporate purposes. This capital allocation strategy suggests the company aims to strengthen its balance sheet while simultaneously investing in operational expansion.
The IPO represents a significant milestone for Sonaselection India in accessing public capital markets. Such fundraising initiatives by mid-sized manufacturing companies reflect growing investor appetite for Indian textile and fabric sector opportunities. The listing will provide the company with greater financial flexibility and potential for future growth initiatives while offering public market investors exposure to India's textile manufacturing segment.
Source: Markets-Economic Times
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