Kolkata-based Sollfege Smart Electronics Limited will open its Initial Public Offering (IPO) on September 30, seeking to raise Rs 21.78 crore through the issue of 39.60 lakh equity shares at Rs 55 per share. The issue will close on October 5, with the company proposing to list its shares on the BSE SME platform.
The IPO proceeds will include Rs 8.54 crore for launching 12 new showrooms, Rs 9.67 crore towards working capital requirements and Rs 1.80 crore for general corporate purposes. The face value of each share is Rs 10. The market lot comprises 2,000 shares, requiring retail investors to apply for a minimum of two lots, or Rs 2.20 lakh. HNI investors will need to apply for at least three lots, amounting to Rs 3.30 lakh. Finshore Management Services Ltd. is the Book Running Lead Manager, while Kfin Technologies Ltd. is the registrar.
In Kolkata, the IPO comes as Sollfege seeks to expand its presence in the premium home entertainment and smart-living segment. The proposed showroom expansion is expected to widen its retail footprint and customer reach across markets.
The company reported total income of Rs 21.28 crore in FY25, up from Rs 19.84 crore in FY24 and Rs 12.74 crore in FY23. EBITDA rose to Rs 3.24 crore in FY25 from Rs 1.73 crore, while PAT increased to Rs 2.13 crore from Rs 1.76 crore.