Sonaselection India Limited IPO
ListedMainboardTextiles
2.01×
Subscribed
Price band
₹94 – ₹99
Lot size
150
1 lot = ₹14,850
Issue size
₹141.57 Cr
Open – close
17 Sept 2026
to 21 Sept 2026
Listing
24 Sept 2026
Listing gain
+3.34%
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Strong7 of 7 dimensions read
The disclosed numbers are strong — 6 of 8 signals read positive
Strength84/100
- Priced below its peers12.2× earnings against a peer median of 18.2× — a discount to the issuer's own comparison set
- Out-earns its peersReturn on net worth of 39.0% against a peer median of 8.0%
- Strong revenue growthRevenue compounding at 106.7% across the reported years
- High return on equityROE of 32.7%
- Heavily indebtedDebt/equity of 2.48× — leverage this high leaves little margin if earnings dip
- Fresh capital for the business100.0% of the issue is fresh capital raised by the company itself
- Minimal related-party dealingsRelated-party transactions are only 3.6% of revenue
- Institutional book coveredQIB portion subscribed 1.16×
Every line above is arithmetic on a figure shown elsewhere on this page - no model, no opinion. It describes the quality of the offering as disclosed. It is not a prediction of the listing price, and it is not advice to apply.
Dates
The issuer's tentative timetable — a date passing is not confirmation the step completed
- Opens17 Sept 2026
- Closes21 Sept 2026
- Allotment22 Sept 2026
- Listing24 Sept 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB1.16x
Non-institutionalNII / HNI2.00x
Big NIIabove ₹10L2.01x
Small NII₹2L – ₹10L1.96x
Retail individualRII2.50x
65,491 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 21 Sept 2026.
Chance of allotment
Retail2.50× subscribed
~1 in 2.5
Minimum 1 lot · 150 shares · ₹14,850 blocked
Retail is 2.5× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 2.5 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII2.00× subscribed
~1 in 2
Minimum 14 lots · 2,100 shares · ₹2,07,900 blocked
HNI is 2× subscribed. This category is allotted proportionately, so a bid receives roughly 1/2 of the shares applied for, subject to the minimum-lot draw.
Derived from SEBI's allotment mechanics and the subscription figures beside it. Retail allotment is a lottery on a single lot, so applying for more lots does not improve your chance of getting something.
Grey market premium
Unofficial dealer quotes — not published by NSE, BSE, SEBI or the company
₹8+8.1%
over the upper band · last seen 23 Sept 2026 · flat since 15 Sept 2026
What this number is not. Grey-market premium is an unregulated, thinly-traded quote from private dealers. It is not a forecast of the listing price, it is not verifiable, and it can be moved by the same people who benefit from it looking high. We publish it because you will look it up anyway — and we deliberately do not convert it into an expected listing gain, because that arithmetic implies a reliability the number has never earned. For what actually happened to comparable issues, see recent outcomes below.
The offering
Terms, structure and who is selling
Terms
Price band₹94 – ₹99
Face value₹10
Lot size150shares
Minimum application₹14,850at cut-off
Total issue size₹141.57 Cr
Fresh issue₹141.57 Cr
Listing atMainboard
Anchor investorsAllotted
Company & valuation
P/E at upper band12.24×
EPS₹6.11pre-issue
EPS₹6.08post-issue
NAV per share₹24.78
Return on equity32.66%
Debt / equity2.48×
EBITDA margin16.40%
Related-party3.63%of revenue
ROCE19.69%
RoNW39.05%
PAT Margin6.58%
EBITDA Margin16.40%
NAV24.78
Price to Book Value4.00
ISININE0LLZ01011
RegistrarKARVY
Lead managersChoice Capital Advisors Private Limited
0.0% of this issue is an offer for sale. The rest is fresh capital that goes into the company itself.
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| QIB | 71,50,000 | — |
| Anchor Investor | 42,90,000 | — |
| QIB (Ex. Anchor) | 28,60,000 | — |
| NII (HNI) | 21,45,000 | — |
| bNII > ₹10L | 14,30,000 | 680.00% |
| sNII < ₹10L | 7,15,000 | 340.00% |
| Retail | 50,05,000 | 33366.00% |
Total issue 1,43,00,000 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Retail (Min)₹14,8501 lot · 150 sh
Retail (Max)₹1,93,05013 lots · 1,950 sh
S-HNI (Min)₹2,07,90014 lots · 2,100 sh
S-HNI (Max)₹9,94,95067 lots · 10,050 sh
B-HNI (Min)₹10,09,80068 lots · 10,200 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
Anchor book
Shares allotted42,90,000
Anchor portion₹42.47 Cr
Bid date16 Sept 2026
Lock-in ends (50%)22 Oct 2026
Lock-in ends (rest)21 Dec 2026
Anchors are institutional money placed a day before bidding opens, against a lock-in. Those two dates are when that stock can first be sold — a supply event worth knowing if you still hold.
What the money is for
Stated use of the net proceeds
- 01Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company from banks₹80 Cr
- 02Funding of capital expenditure towards purchase of plant and machineries at the existing Manufacturing Facility situated at located at 18th K M Stone, Chittorgarh Road, Hamirgarh, Bhilwara- 311025 Rajasthan, India₹50.61 Cr
- 03General Corporate purposes₹0.03 Cr
Financials
Restated figures as reported in the offer document, ₹ crore
| Period | Revenue | EBITDA | PAT | Net worth | Debt |
|---|---|---|---|---|---|
| 2024 | 120.979 | 16.945 | 13.095 | 38.881 | 154.602 |
| 2025 | 315.952 | 26.08 | 18.563 | 70.071 | 207.497 |
| 2026 | 516.949 | 48.052 | 34.023 | 104.163 | 258.24 |
Revenue CAGR 106.7%PAT CAGR 61.2%
How the issuer compares
The listed companies the offer document itself names as comparable.
| Company | EPS | P/E | NAV | RoNW |
|---|---|---|---|---|
| Sonaselection India Limitedthis issue | 8.09 | 12.24 | 24.78 | 39.05% |
| Vishal Fabrics Limited | 1.52 | 12.23 | 26.12 | 6.33% |
| Sangam (India) Limited | 16.44 | 37.29 | 211.85 | 8.02% |
| Nitin Spinners Limited | 31.58 | 18.22 | 261.60 | 12.77% |
Blank cells are figures the offer document does not publish. An unlisted issuer has no market price, so it has no price-based multiple until it lists — which is exactly why the comparison is against companies that already trade. The peer set is the issuer's own selection, so read it as the flattering-est comparison available rather than a neutral one.
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
mediumThe Company generates a significant portion of its revenue from Rajasthan, with 95.31% of total revenue from operations derived from this state in Fiscal 2024, and 96.01% of purchases from Rajasthan in Fiscal 2026.
mediumThe Company operates a single manufacturing facility located in Bhilwara, Rajasthan, and does not operate any alternate or backup manufacturing facility.
mediumA significant slowdown or shutdown of the manufacturing operations at the single facility could adversely affect the business, financial condition, and results of operations.
Litigation
Except as stated in this section, as on the date of this Prospectus, there are no outstanding (i) criminal proceedings; (ii) all actions taken by statutory or regulatory authorities; (iii) claims related to direct and indirect taxes in a consolidated manner; and (iv) other pending material litigations (including civil litigation or arbitration proceeding, in each case involving our Company, Directors, Promoters or Subsidiary (collectively, the “Relevant Parties”) and (v) litigation involving our Group Companies which have a material impact on our Company. Furthermore, there are no disciplinary actions (including penalties) imposed by SEBI or stock exchanges against our Promoters or Directors in the last five Fiscals immediately preceding the date of this Prospectus, including any outstanding action. Furthermore, except as disclosed in this section, there are no outstanding (i) criminal proceedings; and (ii) actions by regulatory and/ or statutory authorities involving our Key Managerial Personnels and Senior Management.
Positives the filing discloses (3)
Primarily fresh capital
100% of the offer is fresh issue, so most proceeds fund the company.
Strong revenue growth
Restated revenue CAGR of 106.7%.
Healthy return on equity
ROE of 32.7%.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
+6.1%
Listed up
6 of 8
Best
+65.7%
Tonbo Imaging India Limited
Worst
-2.3%
Vishal Nirmiti Limited
Zetwerk Manufacturing Businesses Limitedsame segment
3.1× sub+5.5%
Sahajanand Medical Technologies Limitedsame segment
14.2× sub+7.9%
Tonbo Imaging India Limitedsame segment
135.9× sub+65.7%
Bonfiglioli Transmissions Limitedsame segment
46.0× sub+0.0%
Fusion CX Limitedsame segment
4.5× sub+5.5%
HD Fire Protect Limitedsame segment
131.7× sub+23.6%
Vishal Nirmiti Limitedsame segment
1.7× sub-2.3%
Nityas Gems and Jewellery Limitedsame segment
2.3× sub+6.7%
Past issues are context, not a forecast — this issue is a different company at a different price. We show it because "how have issues like this one actually opened" is a question with a real answer, and grey-market premium is not that answer.
About Sonaselection India Limited
Sonaselection India Limited is an integrated fabric manufacturing and processing company engaged in the production and processing of finished fabrics. The company manufactures 100% cotton fabric, cotton lycra (stretch) fabric, cotton blends and polyester blends. It also processes 100% cotton, cotton blends, polyester-viscose (P/V) and polyester fabrics. In addition to manufacturing its own fabric, the company undertakes processing of greige fabric on a job-work basis for third-party customers based on specified quality, colour, finish and other requirements. Incorporated in 2022, the company acquired an established textile processing unit and initially operated as a job-work processing unit. It subsequently set up a cotton fabric processing plant, which became operational in July 2024. Its manufacturing facility is located in Bhilwara, Rajasthan, and is spread across approximately 49,540 sq. m. The facility has an installed processing capacity of 82.44 million metres per annum and carries out bleaching, dyeing, and finishing of greige fabric.
Founded 2022MD Mr Harshil NuwalSector Textiles
Offer documents
The primary sources everything above is drawn from
Common questions
What is the Sonaselection India Limited IPO GMP today?
The most recent grey-market premium recorded for Sonaselection India Limited is ₹8 per share — about 8.1% over the ₹99 upper band. Grey-market premium is an unofficial, unregulated quote from private dealers. It is not published by NSE, BSE, SEBI or the company, and it is not a forecast of the listing price.
How many times is the Sonaselection India Limited IPO subscribed?
Sonaselection India Limited is subscribed 2.01× overall (QIB 1.16×, NII 2.00×, retail 2.50×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar, KARVY.
What is the minimum investment in the Sonaselection India Limited IPO?
One lot is 150 shares, so a retail application at the ₹99 cut-off price blocks ₹14,850. Retail applications are capped at ₹2,00,000; above that you bid in the HNI category, where allotment is proportionate rather than by lottery.
What are the chances of allotment in the Sonaselection India Limited IPO?
The retail portion is subscribed 2.50×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 3. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
When is the Sonaselection India Limited IPO allotment date?
Allotment is scheduled for 2026-09-22, with listing on 2026-09-24. These dates are the issuer's tentative timetable — a date passing is not confirmation that the step completed. Allotment status is published by the registrar, KARVY.
Disclaimer. Figures are compiled from the issuer's offer document and exchange-published bidding data. Subscription changes until the issue closes, and the final basis of allotment is published by the registrar. Grey-market premium is unofficial and is not a forecast. Nothing here is investment advice or a recommendation — read the offer document and consult a SEBI-registered adviser before applying.