Sodhani Academy of Fintech Enablers IPO: Day 3 – Subscription Status, GMP, Key Dates, and More

The Sodhani Academy of Fintech Enablers IPO opened for subscription on September 12, 2024, and will close on September 17, 2024. Investors can check the subscription status, Grey Market Premium (GMP), key dates, and all the essential information they need.

As of 11:10 AM on September 16, 2024, the IPO had been subscribed 20 times. The retail category saw a strong response, with subscriptions at 34.49 times, while the Non-Institutional Investors (NII) category received 5.79 times the subscription.

The allocation for the Sodhani Academy of Fintech Enablers IPO is expected to be completed by Wednesday, September 18, 2024, with the listing date set for Friday, September 20, 2024, on the BSE SME platform.

Key IPO Details:

• Issue Price: ₹40 per share
• Lot Size: Minimum lot size of 3,000 shares
• Retail Investment: Minimum investment of ₹120,000
• HNI Investment: Minimum lot size of two lots (6,000 shares), totaling ₹240,000
• Total IPO Size: ₹6.12 crore, comprising:
  • Offer for Sale (OFS): 5.6 lakh shares worth ₹2.24 crore
  • Fresh Issue: 9.7 lakh shares worth ₹3.88 crore

The company plans to utilize the Net Proceeds from the fresh issue for various purposes, including:

• Developing content for course materials
• Building content studios and offline training infrastructure
• Procuring hardware and software for information technology
• Improving brand visibility and awareness
• Developing applications for Learning Management Systems (LMS)
• General corporate purposes

According to Investorgain.com, the GMP for the Sodhani Academy of Fintech Enablers IPO stood at +₹10. This suggests that the shares are trading at a ₹10 premium in the grey market, indicating an anticipated listing price of ₹50 per share, which is 25% higher than the issue price of ₹40 per share.

With a strong subscription response and a positive GMP, the Sodhani Academy of Fintech Enablers IPO is attracting attention, particularly from retail investors. The company’s focus on fintech education and infrastructure development could make this a noteworthy addition to the BSE SME platform.

Disclaimer: The information provided in this article is based on news updates and reports gathered from various internet sources. While every effort has been made to ensure the accuracy and reliability of the information, we encourage readers to verify the details independently before making any decisions.