Sahasra Electronics Solutions, a provider of electronics system design and manufacturing services, is all set to launch its initial public offering (IPO) worth Rs 186 crore on September 26. This IPO marks one of the significant public issues in the SME segment this year, following KP Green Engineering’s IPO earlier in March.
The price band for the IPO has been set at Rs 269-283 per share, and the subscription window will close on September 30. The company aims to raise Rs 186.16 crore through the issuance of 65.78 lakh equity shares at the upper price band. This includes a fresh issue of 60.78 lakh shares worth Rs 172 crore and an offer-for-sale of 5 lakh shares worth Rs 14.15 crore by the selling shareholder, Amrit Lal Manwani, who currently holds 94.98 percent stake in the company.
The IPO has allocated half of the net offer size for qualified institutional buyers, 15 percent for non-institutional investors, and the remaining 35 percent for retail investors. Sahasra Electronics Solutions plans to utilize the net fresh issue proceeds for expanding its manufacturing facilities in Bhiwadi, Rajasthan, and by its subsidiary Sahasra Semiconductors. Additionally, a portion of the funds will be allocated towards working capital requirements and general corporate purposes.
The company’s product offerings include printed circuit board assembly, box build, LED lighting, IT accessories, and computer hardware, with over 80 percent of its products being exported to global manufacturers in countries like the USA, Rwanda, Tunisia, UK, Germany, Canada, Austria, and Belgium in the fiscal year 2024.
Following the IPO, the trading of Sahasra Electronics Solutions’ equity shares will commence on the NSE Emerge platform from October 4. Hem Securities is the sole book running lead manager for the issue, and Bigshare Services will act as the registrar to the offer.
With a strong focus on expansion and growth, Sahasra Electronics Solutions aims to leverage the funds raised through the IPO to solidify its position in the electronics manufacturing industry and capitalize on emerging opportunities in the market. Investors and stakeholders can look forward to the company’s future performance and strategic initiatives as it embarks on this new phase of growth and development.