Sodhani Academy IPO Day 4: Check subscription status, GMP, key details

Sodhani Academy of Fintech Enablers IPO Day 4: The Initial Public offering opened for subscription on 12 September 2024 and closes on 17 September 2024. Let's look at subscription status, GMP and other key details.

Sodhani Academy IPO: Subscription Status

Sodhani Academy of Fintech Enablers IPO had been subscribed 90.23 times by 11:40 am on Tuesday, September 17. The public issue had received subscriptions 137.36 times in the retail category and 43.10 times in the NII category.

Sodhani Academy IPO : GMP

The IPO GMP for Sodhani Academy of Fintech Enablers was +15 as per Investorgain.com . This suggests that Sodhani Academy's shares are selling for ₹15 higher in the Grey market, over the issue price.

After taking into consideration the premium in the grey market and the issue price of Sodhani Academy of Fintech Enablers, the anticipated listing price of ₹55 per share is consequently 37.50 per cent higher than the IPO price of ₹40.

Sodhani Academy IPO: Key details

On September 12, 2024, subscriptions for the Sodhani Academy of Fintech Enablers IPO started. The IPO will close on September 17, 2024. On Wednesday, September 18, 2024, the allocation for the Sodhani Academy of Fintech Enablers IPO is anticipated to be completed. The proposed listing date for the Sodhani Academy of Fintech Enablers IPO on BSE SME is Friday, September 20, 2024.

The IPO price for Sodhani Academy of Fintech Enablers is ₹40 per share. An application must have a minimum lot size of 3000 shares. Retail investors are required to invest a minimum of ₹120,000. HNI investments require a minimum lot size of two lots, or 6,000 shares, totalling ₹2,40,000.

Sodhani Academy IPO: Objectives of the issue

The Sodhani Academy of Fintech Enablers initial public offering (IPO) worth ₹6.12 crore. The offering consists of 5.6 lakh shares that are part of the offer for sale, totalling ₹2.24 crore, while the company is also issuing fresh 9.7 lakh shares, totalling ₹3.88 crore.

The company plans to utilise the Net Proceeds from the New Issue for developing content for course materials, building content studios and offline training infrastructure, procuring hardware and software for information technology, improving brand visibility and awareness, developing applications for learning management systems (LMS), and general corporate purposes.

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