Sotefin Bharat IPO
ListedSME
3.99×
Subscribed
Price band
₹187 – ₹187
Issue size
₹89.76 Cr
Open – close
16 Jul 2026
to 20 Jul 2026
Listing
23 Jul 2026
Listing gain
+9.63%
What the filing actually says
Our read of the offer document and the exchange data — not the issuer's summary of itself
Strong3 of 7 dimensions read
The disclosed numbers are strong — 2 of 3 signals read positive
Strength78/100
- Undemanding valuation14.0× earnings at the upper band, with no peer set published to compare against
- High return on equityROE of 29.4%
- Institutional book coveredQIB portion subscribed 2.82×
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, and is pulled toward neutral to reflect how much the document leaves unsaid. 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
- Opens16 Jul 2026
- Closes20 Jul 2026
- Listing23 Jul 2026
Demand and your odds
How the book filled, and what that means for an application
Subscription by category
Qualified institutionalQIB2.82x
Non-institutionalNII / HNI6.05x
Big NIIabove ₹10L7.28x
Small NII₹2L – ₹10L3.59x
Retail individualRII3.78x
6,070 applications received — how many people bid, as opposed to how much money did. Exchange figures as of 20 Jul 2026.
Chance of allotment
Retail3.78× subscribed
~1 in 3.8
Retail is 3.78× subscribed. Allotment is a lottery on a single lot, so roughly 1 in 3.8 applications gets one lot. Bidding for extra lots does not improve these odds.
HNI / NII6.05× subscribed
~1 in 6.1
HNI is 6.05× subscribed. This category is allotted proportionately, so a bid receives roughly 1/6.1 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.
The offering
Terms, structure and who is selling
Terms
Price band₹187 – ₹187
Total issue size₹89.76 Cr
Listing atSME platform
Company & valuation
P/E at upper band13.97×
EPS₹10.73pre-issue
NAV per share₹60.00
Return on equity29.42%
EBITDA margin25.55%
ROCE33.31%
Debt/Equity0.31
RoNW26.98%
PAT Margin14.88%
EBITDA Margin25.55%
NAV60.00
Price to Book Value4.68
ISININE12Z301012
Who gets what
How the issue is split between investor categories, and what each may bid.
| Category | Shares | % of issue |
|---|---|---|
| QIB Shares Offered | 22,80,000 | 47.50% |
| Anchor Investor Shares Offered | 13,68,000 | 28.50% |
| QIB (Ex. Anchor) Shares Offered | 9,12,000 | 19.00% |
| NII (HNI) Shares Offered | 6,84,000 | 14.25% |
| bNII > ₹10L | 4,56,000 | 9.50% |
| sNII < ₹10L | 2,28,000 | 4.75% |
| Retail Shares Offered | 15,96,000 | 33.25% |
| Market Maker Shares Offered | 2,40,000 | 5.00% |
Total issue 48,00,000 shares. Indented rows sit inside the category above them and are not added to it.
What each category may bid
Individual investors (IND) (Min)₹2,24,4002 lots · 1,200 sh
Individual investors (IND) (Max)₹2,24,4002 lots · 1,200 sh
S-HNI (Min)₹3,36,6003 lots · 1,800 sh
S-HNI (Max)₹8,97,6008 lots · 4,800 sh
B-HNI (Min)₹10,09,8009 lots · 5,400 sh
Lot size alone does not answer "how much do I need" — an S-HNI minimum is several lots, not one.
Anchor book
Shares allotted13,68,000
Anchor portion₹25.58 Cr
Bid date15 Jul 2026
Lock-in ends (50%)20 Aug 2026
Lock-in ends (rest)19 Oct 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
- 01Funding capital expenditure requirements for setting up a manufacturing facility in Kolkata, West Bengal₹20.13 Cr
- 02Funding capital expenditure requirements for the proposed new office premises₹8.17 Cr
- 03Funding working capital requirements of the Company₹40 Cr
- 04General corporate purposes₹8.88 Cr
Risks worth reading
Ranked by our severity assessment, not by the order the prospectus prints them
mediumThe Company relies significantly on critical patented parking robot technology sourced from Sotefin SA, Switzerland, with 50.40% of total purchases being import from Sotefin SA for the financial year ended March 31, 2026. Any disruption in this supply arrangement, including geopolitical factors, tra
mediumThe Company has limited proprietary intellectual property and minimal registered intellectual property protection through patents, copyrights, or multiple trademarks. The only registered trademark is due for renewal in April 2029, and there is no assurance of renewal or the ability to register or pr
mediumRevenue from operations is highly concentrated, with the top ten customers contributing 91.77%, 84.85%, and 87.30% for the financial years ended March 31, 2026, March 31, 2025, and March 31, 2024, respectively. The top customer alone contributed 48.25% of total revenue in the financial year ended Ma
mediumA significant portion of revenue is derived from government clients, with government bodies contributing 56.52%, 56.01%, and 51.30% of revenue for the financial years ended March 31, 2026, March 31, 2025, and March 31, 2024, respectively. The business is subject to risks inherent in public procureme
Positives the filing discloses (1)
Healthy return on equity
ROE of 29.4%.
What happened to comparable issues
The last 8 issues to list with a recorded opening price, most comparable first
Median listing gain
-2.2%
Listed up
1 of 8
Best
+0.4%
Papadmalji Agro Foods Limited
Worst
-17.5%
Himalayan Solar
Ravita Engineering Services Limitedsame segment
6.7× sub+0.0%
Vaibhav Vyapaar Limitedsame segment
3.1× sub-2.0%
R.K. Fashion Accessories Limitedsame segment
2.6× sub-2.4%
Eventions Limitedsame segment
2.3× sub-5.9%
Green Asia Impexsame segment
1.0× sub+0.0%
Papadmalji Agro Foods Limitedsame segment
2.5× sub+0.4%
Dudani Retailsame segment
1.4× sub-13.8%
Himalayan Solarsame segment
1.2× sub-17.5%
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.
Offer documents
The primary sources everything above is drawn from
Common questions
How many times is the Sotefin Bharat IPO subscribed?
Sotefin Bharat is subscribed 3.99× overall (QIB 2.82×, NII 6.05×, retail 3.78×). Subscription keeps changing until the issue closes; the final basis of allotment is published by the registrar.
What are the chances of allotment in the Sotefin Bharat IPO?
The retail portion is subscribed 3.78×, so allotment is by lottery and the odds of receiving at least one lot are roughly 1 in 4. Applying for more lots does not improve the chance of getting something — every retail applicant competes for the same single minimum lot.
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.