Akash Jha
Sahaj Fashions’ IPO, valued at Rs 13.96 crore, was 1.08 times subscribed by the end of the first day of bidding, August 25. In contrast to the offer size of 46.52 lakh, investors purchased 50.28 lakh shares.
While retail investors submitted bids for 33.08 million shares (1.5 times their limit), high net worth persons submitted bids for 17.2 million shares (78 percent of their quota).
Half of the net issuance is set aside for the general public, and the other half is allocated for ultra-wealthy investors. The net issue is calculated by subtracting the 2.36 million shares held by the market maker from the total number of shares issued.
The IPO is part of the textile firm’s plan to generate Rs 13.96 through the sale of newly issued shares (worth Rs 13.43 crore) and shares being offered for sale by a non-promoter, Ankur Shah. This share price of Rs 30 will not change.
The promoters and promoter group own 97.95 percent of the company, while Shah owns the remaining 2.05 percent, or 1.78 lakh shares.
In order to satisfy its working capital requirement of Rs 6.68 crore, settle its debts of Rs 4.2 crore, and utilise the remainder for general corporate purposes, the Rajasthan-based fabric producer would use the proceeds from the fresh issue.
August 29 is the last day for the fixed-price offering, and September 6 is the date the stock will begin trading on the NSE SME.
Also Read :Sahaj Fashions IPO: The fixed-price issue will conclude on August 29, and the listing will occur on September 6 on the NSE SME.
The company’s two factories in Rajasthan produce textiles for apparel, upholstery, and industrial uses.
Khambatta Securities is handling the offer as the merchant banker, and Bigshare Services is handling the registrations.
