Sahaj Fashions IPO Subscription and GMP Updates
In a significant market development, Sahaj Fashions Ltd, a notable small-to-medium enterprise (SME) specializing in fabric manufacturing for garments, home furnishings, and industrial applications, has opened its doors for public investment. The much-anticipated Sahaj Fashions Initial Public Offering (IPO) subscription phase commenced on Friday, August 25, and is set to conclude on Tuesday, August 29.
Sahaj Fashions IPO Overview
Sahaj Fashions, renowned for its textile production in various sectors, has introduced an IPO worth ₹13.96 crore. The IPO, which offers a fixed price of ₹30 per share, includes a fresh issuance of 4,476,000 shares. This move is anticipated to provide the company with the necessary capital for advancing its operations and achieving growth.
Sahaj Fashions IPO Subscription Status
The initial response to the Sahaj Fashions IPO has been substantial. As of the first day, the IPO witnessed a subscription rate of 74%, indicating considerable investor interest. Bids for 33.80 lakh equity shares were received by 4:10 pm on day 1, out of the total issue size of 44.76 lakh shares.
Breaking down the subscription figures, the retail category experienced 1.13 times subscription, while the Non-Institutional Investors’ (NII) category garnered a 35% subscription rate. This indicates a diverse investor base showing interest in Sahaj Fashions’ growth prospects.
Sahaj Fashions Grey Market Premium (GMP)
The Grey Market Premium (GMP) for the Sahaj Fashions IPO currently stands at ₹4 per share, as reported by topsharebrokers.com. This GMP value signifies that Sahaj Fashions shares are trading at a premium of ₹4 compared to their original issue price in the unofficial grey market.
Sahaj Fashions IPO Dates and Details
Investors should mark their calendars for this critical timeline: the Sahaj Fashions IPO, valued at ₹13.96 crore, is accessible for subscription from August 25, with the subscription window concluding on August 29, 2023.
With a share price fixed at ₹30 and a face value of ₹10 per share, investors must be aware that the lot size for Sahaj Fashions IPO is 4,000 shares. This implies a minimum investment requirement of ₹120,000 for retail investors.
The company has projected that the IPO allotment process will reach its conclusion on September 1, while refunds will be initiated on September 4. Subsequently, the credited shares are anticipated to appear in the demat accounts of allottees by September 5. Investors can look forward to the listing of Sahaj Fashions shares on the NSE SME on Wednesday, September 6.
Utilization of Funds and Promoters
The net proceeds generated from the IPO will play a crucial role in supporting Sahaj Fashions’ working capital needs, including margin money, as well as facilitating the prepayment and repayment of certain secured borrowings. The funds will also contribute to the company’s general corporate objectives, enhancing its overall growth trajectory.
Behind the scenes, the driving forces of Sahaj Fashions are its dedicated promoters: Rohit Toshniwal, Sadhana Toshniwal, Norat Mal Choudhary, Prabha Lakhotia, Rakesh Choudhary, Mukul Lakhotia, and Nitin Toshniwal.
Sahaj Fashions IPO Registrar and Lead Manager
To facilitate this IPO journey, Bigshare Services Pvt Ltd has been appointed as the IPO registrar. Moreover, Khambatta Securities Limited takes on the role of the IPO lead manager, steering the IPO process towards success.
This strategic move by Sahaj Fashions to offer an IPO presents a unique opportunity for investors to be a part of the company’s growth story and contribute to its future endeavors. Stay tuned for further updates on this exciting development in the business landscape.
About Sahaj Fashions:
Founded in the year 2011, Sahaj Fashions Limited specializes in crafting a diverse range of textiles utilized in apparel, household decor, and industrial applications. Their collection encompasses fabrics suitable for both suiting and shirting, crafted from cotton, polyester, and cotton-polyester blends. Among their standout offerings is the coveted cotton yarn-dyed fabric, held in high regard within the garment manufacturing sphere.
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