SME IPO: Sonu Infratech Limited 

Grey Market Trend News for Sonu Infratech IPO :
On 28 April 2022
Subject to Rates# :  nil
GMP Rates :  – nil
Past Trend details at the bottom

Subscription Trend on 29 April 2022 @ 5.00 pm
NII (50%) ? Sh : ? T
RII (50%) ? Sh : ? T
Tot ? Sh : ?T

Sonu Infratech IPO Details
IPO Opening Date Apr 29, 2022
IPO Closing Date May 5, 2022
Issue Type Fixed Price Issue IPO
Face Value Rs 10 per equity share
IPO Price Rs 36 per equity share
Market Lot 3000 Shares
Min Order Quantity 3000 Shares
Listing At NSE SME
Issue Size 2,400,000 Eq Shares of ?10
(aggregating up to Rs 8.64 Cr)
Fresh Issue 2,400,000 Eq Shares of ?10
(aggregating up to Rs 8.64 Cr)
Retail Shares Offered 50% of the net offer
NII (HNI) Shares Offered 50% of the net offer

Net IPO size  Rs. 2.06 Crore/ 412,000 Shares
Retail Quota : 50 % ( net  206,000 Shares)
Price Band ( FV Rs. 10) of Rs. 10

Retail Min Application : 3000 Shares/ Rs. 108,000
Retail Max Application : 3000 Shares/ Rs. 108,000
Retail : 69 Applications required for one time subscriptions.

IPO Timetable ( Tentative) for Sonu Infratech
IPO Opens on Apr 29, 2022
IPO Closes on May 05, 2022
Basis of Allotment Date May 10, 2022
Initiation of Refunds May 11, 2022
Credit of Shares to Demat Account May 12, 2022
IPO Listing Date May 17, 2022

Sonu Infratech Business :

Sonu Infratech is engaged into the business of civil construction services, such as piling, excavation, road preparation, land leveling, structural painting, building construction in nature of commercial and industrial project, mechanical scaffolding services including structuring and piping, Plant maintenance at Reliance DTA (Domestic Territory Area), Reliance SEZ (Special Economic Zone), Reliance MTF (Marine Time Farm including DTA and SEZ), Reliance J3 (C2 Complex, PCG DTA, PCG SEZ, Rubber Plant), Nayara Maintenance, Repairs and Maintenance services such as plumbing, electrification, cleaning of vessels, plant and machinery, tanks during shut down period of the company who had awarded us contract etc.

It also has its own plant and machinery and vehicle which enables it to provide a complete range of civil construction services for majority of all type of civil construction and infrastructure related work.
It is class “C” contracts (“Upper Tendering Limit of Rs. 100 Lakh) which enables it to bid the contract for any kind of defense segment work in India. Sonu Infratech has successfully completed various contracts awarded by Military Engineering Services (“MES”).

The company has work order book of more than 2041.14 Lakh as on December 20, 2021. It secures contracts in generally through one to one negotiation.

For more information about the business, Click http://www.sonuinfratech.com

Promoters of Sonu Infratech IPO

Mr. Ramji Shrinarayan Pandey and Mr. Ketan Vallabhdas Modi

Sonu Infratech : Objects of the Issue

To meet the working capital requirements of the company.

Registered office of Sonu Infratech

Sonu Infratech Limited
Platinum 404,
4th Floor Park Colony,
Opp. Joggers Park Jamnagar -361008
Company Secretary and Compliance Officer: Mrs Puja Paras Mehta

Lead Manager of Sonu Infratech IPO

Swastika Investmart Ltd

Observations & Guidance by Paresh Gordhandas ( Research Analyst) : 

SME IPO Financial & Analytical Ratios#
Earnings per Share 2019-20,Rs 1.21
Earnings per Share 2020-21 Rs 2.57
Earnings per Share 2021-22 7M Rs 1.91
Return on Net Worth: 19-20 8.42 %
Return on Net Worth: 20-21: 15.14 %
Return on Net Worth: 21-22 7M : 17.38%
Book Value of the Share as on 31.03.21 Rs 16.95
Book Value of the Share after the IPO Rs 23.59
Offer Price Rs. 36

IPO Peer Comparison:
RPP Infra Projects @ PE Multiple of 8.26
Shashijit Infraprojects [email protected] PE Multiple of -257

Observation by Paresh Gordhandas ( Research Analyst )
The company  has reasonably good turnover and profitability  and the IPO is reasonably priced. However the listing gains generally for any IPO are more or less dependant on Grey market fancy.

# This is only coverage of News related to Grey Market . We donot deal in Grey market premium or Subject to rates, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.

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