The subscription period of Sonalis Consumer Products IPO will end on June 9. Being a fixed price issue, the shares of Sonalis Consumer Products are being offered at ₹30 per share.

Read here: Sonalis Consumer Products IPO: Issue details, GMP, other key things to know

However, Sonalis Consumer Products IPO GMP (grey market premium) suggests that the company would list at a discount.

Sonalis Consumer Products shares are trading flat to a discount of Re 1 in the grey market, as per market observers. Therefore, the expected listing price for Sonalis Consumer Products shares, considering the issue price of ₹30, is ₹29 – ₹30 per share.

Sonalis Consumer Products IPO lot size of the issue is 4,000 shares and the minimum investment amount for retail investors would be ₹1,20,000.

Hence, if the shares list as per the current grey market price of ₹29, a discount of Re 1, an investor who receives one lot of shares for ₹1,20,000, may suffer a loss of ₹4,000 as his investment value will fall to ₹1,16,000 upon listing.

Also Read: IKIO Lighting IPO: Issue subscribed 1.02 times on Day 1 so far; NII, retail portion overbooked

The shares of Sonalis Consumer Products will be listed on June 19 at BSE SME.

The company will fix the basis of allotment of the shares on June 14, and the initiation of refunds will take place on June 15. The shares will be credited to investors’ demat accounts on June 16.

Sonalis Consumer Products proposes to utilise the net IPO proceeds to finance the working capital requirements, general corporate purposes and to meet issue expenses.

Also Read: IKIO Lighting IPO: GMP, should you subscribe, other details as issue opens today

Sonalis Consumer Product has a large product portfolio of healthy snacks and food and its products are distributed across 3 states Maharashtra, Gujarat and Goa.

It took over the business distribution network of Appetite Food which was running its business since March 5, 2020. Sonalis Consumer Products absorbed the company including all its movable assets, current assets and liabilities for ₹12.87 lakh in terms of Business Transfer Agreement dated May 15, 2022.

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Updated: 06 Jun 2023, 05:10 PM IST