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Sonaselection India Hits Upper Circuit on Listing Day, Stock Jumps 5% to ₹107.09
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CNBC Awaaz•24-09-2026, 12:36
Sonaselection India Hits Upper Circuit on Listing Day, Stock Jumps 5% to ₹107.09
- •Shares of Sonaselection India were listed on the stock market today, September 24.
- •The company's IPO was subscribed 2 times, with shares listing on NSE at ₹102.21.
- •At 12:30 PM, Sonaselection's share price rose 5% to ₹107.09, hitting the upper circuit.
- •The ₹141.6 crore IPO had a price band of ₹94 to ₹99 per equity share.
- •Proceeds from the IPO will be used to repay debt, purchase plant and machinery, and for general corporate purposes.
Key Questions Answered
Sonaselection India shares listed on the NSE at Rs 102.21 (a 3.34% premium) and on the BSE at Rs 102 (a 3.03% premium) compared to the IPO price of Rs 99, later rising 5 percent to hit the upper circuit at Rs 107.09.
The overall IPO received bids for 2,01,04,050 shares against 1,00,10,000 shares, achieving a 2.01 times subscription. The retail portion was subscribed 2.50 times, non-institutional investors reached 1.99 times, and qualified institutional buyers achieved 1.16 times subscription.
The company intends to use the net proceeds from the IPO to repay or prepay debt, purchase plant and machinery for its manufacturing facility located in Bhilwara, Rajasthan, and fund general corporate purposes.
