Sahasra Electronics Solutions IPO: Key Details, GMP, and Listing Schedule

Akash Deep -

The Sahasra Electronics Solutions IPO, which opened on September 26, 2024, has garnered significant attention from investors. The IPO is set to close on September 30, 2024, marking the end of the subscription period.

IPO Details

The Sahasra Electronics Solutions IPO is a 100% book-building issue, comprising a fresh issue of 65.78 lakh equity shares and an offer for sale (OFS) of 5 lakh shares. The price band for the IPO has been set at Rs 269-283 per share, with each lot consisting of 400 shares.

Grey Market Premium (GMP)

In the unlisted market, Sahasra Electronics Solutions' shares are trading with a GMP of Rs 180, indicating a premium of nearly 64% to the issue price. This positive sentiment in the grey market suggests strong investor interest in the company.

Subscription Status

The IPO has seen robust subscription, although the exact subscription numbers by different categories of investors are not yet finalized. The allotment of shares is expected to be made on October 1, 2024, with the listing scheduled for October 4, 2024, on the NSE Emerge platform.

Use of IPO Proceeds

The proceeds from the IPO will be utilized for various purposes, including funding capital expenditures related to the installation of additional plant and machinery at a new manufacturing facility in Rajasthan. Additionally, funds will be allocated to the subsidiary Sahasra Semiconductors to support its capital expenditure requirements and working capital needs, as well as for general corporate purposes.

Expansion Plans

Sahasra Electronics plans to scale up its semiconductor packaging unit using the funds raised from the IPO. This expansion is part of the company's strategy to enhance its manufacturing capabilities and meet growing demand in the semiconductor sector.

Listing and Allotment

Investors can check the allotment status of their shares through the BSE website or the registrar's website, Bigshare Services. The shares are set to be listed on the NSE Emerge platform on October 4, 2024.