Sonaselection India IPO Subscription Picks Up on Final Day
Sonaselection India IPO is open for its final day of bidding today, September 21, 2026. The mainboard IPO opened on September 17 with a price band of ₹94 to ₹99 per share and an issue size of ₹141.57 crore. The entire issue is a fresh issue with no offer for sale. The latest NSE-based update reported the issue subscribed 1.23 times by 11:30 AM on September 21.
| Particular | Details |
|---|---|
| IPO Name | Sonaselection India IPO |
| IPO Type | Mainboard |
| IPO Dates | Sep 17–21, 2026 |
| Price Band | ₹94–₹99 |
| Issue Size | ₹141.57 Cr |
| Issue Type | Fresh Issue |
| Lot Size | 150 Shares |
| Minimum Investment | ₹14,850 |
| Allotment | Sep 22, 2026 |
| Refund | Sep 23, 2026 |
| Listing | Sep 24, 2026 |
| Listing Platform | BSE & NSE |
| Registrar | KFin Technologies |
| Lead Manager | Choice Capital Advisors |
Sonaselection India IPO GMP Update
The latest grey-market indications are around the ₹0–₹2 range. NDTV Profit reported a GMP of ₹0 on September 21, while another market report indicated a GMP of around 2%. The grey-market premium is unofficial and can change before listing, so it should not be treated as a confirmed listing price.
At a GMP of ₹0, the indicative price based on the upper price band would be ₹99. At ₹2 GMP, the indicative price would be around ₹101.
Sonaselection India IPO Final-Day Subscription Status
Investor interest increased significantly toward the final day. The issue had received 90% subscription by the end of Day 2, with retail investors already subscribing 1.29 times their reserved portion. By 11:30 AM on September 21, the overall subscription had reached 1.23 times.
| Category | Latest Available Status |
|---|---|
| Overall | 1.23x |
| Retail | Above 1x |
| QIB | Updating |
| NII | Updating |
The final category-wise figures may change until the bidding window closes.
Sonaselection India Business Overview
Sonaselection India is a textile manufacturing and processing company based in Bhilwara, Rajasthan. The company processes greige fabric into value-added finished fabrics through activities such as bleaching, dyeing and finishing.
Its product portfolio includes cotton fabrics, cotton-lycra fabrics, cotton blends and polyester blends. The company has also moved toward downstream integration through its wholly owned subsidiary, Sionnah Enterprises, which operates in the readymade garments segment.
The company has been transitioning from predominantly job-work processing toward manufacturing and direct sales of its own fabrics, giving it a broader role within the textile value chain.
Sonaselection India Financial Performance
Sonaselection India has recorded substantial growth in revenue and profit over the recent financial years. Reported FY2026 revenue was around ₹517 crore, while profit after tax stood at approximately ₹34.02 crore.
| Financial Year | Revenue | PAT |
|---|---|---|
| FY2024 | ₹121 Cr | ₹13.10 Cr |
| FY2025 | ₹316 Cr | ₹18.56 Cr |
| FY2026 | ₹517 Cr | ₹34.02 Cr |
The company has therefore expanded its revenue base considerably over the three-year period. However, the reported PAT margin has moderated from the FY2024 level as the business has scaled up.
Sonaselection India IPO Fund Utilisation
The ₹141.57 crore fresh issue is primarily intended to strengthen the company's balance sheet and expand its manufacturing capabilities. The company has proposed using ₹80 crore toward repayment or pre-payment of borrowings and ₹50.61 crore toward purchasing plant and machinery.
| IPO Objective | Amount |
|---|---|
| Repayment/Pre-payment of Borrowings | ₹80 Cr |
| Plant & Machinery | ₹50.61 Cr |
| General Corporate Purposes | Balance |
The proposed debt reduction is an important part of the IPO because the company has reported relatively high leverage.
Sonaselection India Debt and Cash Flow Position
Alongside its revenue and profit growth, the company's balance sheet and cash-flow position are important areas to monitor. The disclosed debt-to-equity ratio is around 2.48 times, while the company has reported negative operating cash flow in recent financial years.
This makes the proposed ₹80 crore repayment and pre-payment component particularly relevant to the post-IPO capital structure.
Sonaselection India Manufacturing Capacity
The company's principal manufacturing operations are located in Bhilwara, Rajasthan. It has expanded its processing capacity and added a cotton fabric processing plant as part of its move toward own manufacturing.
The company has also been developing a more integrated textile model covering fabric processing and downstream garment activities. This expansion is intended to increase its participation across different stages of the textile value chain.
Sonaselection India IPO Key Business Factors
Sonaselection India has a diversified fabric portfolio covering cotton, lycra and blended fabrics, while its move into readymade garments provides an additional downstream business opportunity.
The company also has established relationships with domestic customers and operates within the Bhilwara textile manufacturing ecosystem. At the same time, its business remains exposed to textile demand, raw-material prices, working-capital requirements and customer concentration.
Sonaselection India IPO Risks
One of the key risks is customer concentration. The company's offer documents indicate that its top 10 customers represented a significant share of revenue in recent reporting periods.
The company also operates primarily from a single manufacturing facility in Bhilwara, while its revenue and raw-material procurement have had significant Rajasthan exposure. Negative operating cash flow in recent years and relatively high debt levels are additional factors that investors may monitor.
Other risks include fluctuations in cotton and greige-fabric prices, changes in textile demand, competition, working-capital requirements and execution of planned capital expenditure.
Sonaselection India IPO Important Dates
The IPO closes on September 21, 2026. The basis of allotment is scheduled for September 22, followed by refund initiation and demat credit on September 23. The shares are scheduled to list on both BSE and NSE on September 24.
| IPO Event | Date |
|---|---|
| IPO Closing | Sep 21, 2026 |
| Allotment | Sep 22, 2026 |
| Refund | Sep 23, 2026 |
| Demat Credit | Sep 23, 2026 |
| Listing | Sep 24, 2026 |
Sonaselection India IPO Latest News Summary
Sonaselection India IPO has moved above the one-time subscription mark on its final bidding day, with the latest reported overall subscription at 1.23 times by 11:30 AM. The latest grey-market indications remain around ₹0–₹2, showing limited movement compared with the earlier GMP levels seen before the issue opened.
The company has recorded strong revenue and profit growth through FY2026, while the IPO proceeds are largely intended for debt reduction and new plant and machinery. Customer concentration, leverage, operating cash flow and textile-market conditions remain important factors alongside the company's expansion plans.
Disclaimer: IPO GMP is an unofficial and unregulated market indicator and may change at any time. Subscription figures are subject to updates until the IPO closes. This article is for informational purposes only and should not be considered investment advice.
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