Hem Finlease Pvt Ltd

Recent News, Updates & Announcement

• 
  Sona Machinery Limited IPO To Open On 5th March Sets Price Band At Rs 136 to Rs 143 Per Share.

  New Delhi India March 4 Sona Machinery Limited is a diversified agroprocessing equipment manufacturer for Rice mills Ethanol distilleries The company is going to become public as it has announced to raise Rs 5182 crores via an initial public offering IPO by issuing entirely a fresh issue of 3624 lakh sharesFor its SME Initial Public Offering IPO Sona Machinery Limited has established a price band of Rs 136 to Rs 143 per share The companys shares will be listed on the NSE Emerge with a projected listing date of Wednesday March 13 2024Hem Securities Limited is the book running lead manager of the Sona Machinery IPO while Maashitla Securities Private Limited is the Registrar for the issueThe issue proceeds will be utilized in funding capital expenditure requirements of the company towards setting up a new manufacturing unit at Ghaziabad Along with repayment of the outstanding amount of the Letter of Credit availed by the company for the purchase of machinery and general corporate purposesOn Monday March 11 2024 the shares for Sona Machinery IPO are anticipated to be allotted and on Wednesday March 13 2024 the shares will be credited to the demat account of the allottees The IPO comprises 50 of the net issue for QIB 35 for retail investors and 15 of the net issue for the NII segmentRetail investors need to contribute a minimum of Rs 143 lakh considering the minimum lot size for an application is 1000 shares For HNIs the minimum bidding size is two lots or 2000 shares for a total investment of Rs 286 lakh at upper price bandSona Machinery Limiteds revenue increased by 8188 and profit after tax PAT rose by 13535 between the financial year ending with March 31 2023 and March 31 2022 For the 8Month period ended 30th November 2023 they have an EBITDA margin of 1511 with a PAT margin of 1032The company has 3 diversified revenue verticals viz Complete projects for rice mills Equipment manufacturing Services The company manufactures equipments for cleaning grading blending material handling categories to process Rice Pulses Wheat Spices Barnyard Millet which contributes 80 of revenue Their products are sold PAN India exported to Nigeria Bangladesh Kenya Nepal etcSona Machinerys service offering includes engineering installation supervision and machine commissioning providing solution for grainbased ethanol distilleries ranging from grain unloading to   milling The Company also caters to settingup of complete Rice Mill Projects as well as processing of other grains like pulses wheat spices millet etc The company is also constructing a new factory in Ghaziabad on a land area of 90729 sq ftSona Machinerys manufacturing facility is located in Ghaziabad Uttar Pradesh with a total area of approximately 52205 sq ft and a warehouse for storage of material and finished goods As of September 30 2023 the company employed around 390 employees including semiskilled workers at various levels of the organizationIf you have any objection to this press release content kindly contact prerrorrectificationgmailcom to notify us We will respond and rectify the situation in the next 24 hoursDisclaimer This post has been autopublished from an agency feed without any modifications to the text and has not been reviewed by an editor.

  04 Mar 2024 Lokmat News