Sonaselection India IPO - Listing Performance & Details

Sonaselection India Limited was incorporated on February 11, 2022, and is headquartered in Bhilwara, Rajasthan. It works in the textile manufacturing sector.

The company is an integrated fabric manufacturing and processing business, producing value-added fabrics including 100% cotton, cotton lycra (stretch), cotton blends and polyester blends, and undertaking fabric processing for cotton, cotton blends, polyester-viscose and polyester fabrics. It combines in-house manufacturing with job-work processing at its facility in Bhilwara, which is equipped with stenters, mercerisers and other textile machinery, along with an in-house quality assurance lab. The company is pursuing forward integration into readymade garments through a wholly owned subsidiary, Sionnah Enterprises Private Limited. It is led by Subhash Chandra Nuwal as Chairman and Harshil Nuwal as Managing Director, part of the Sona Group, which operates one of India's larger textile processing capacities.

This is a mainboard IPO, proposed to be listed on the NSE and BSE. The issue comprises entirely a fresh issue of up to 1.43 crore equity shares of face value Rs 10 each, with no offer-for-sale component and the price band yet to be announced. Of the net proceeds, Rs 80 crore is earmarked for repayment of certain borrowings and Rs 47.55 crore for purchase of plant and machinery at the company's manufacturing facility, with the balance for general corporate purposes. Choice Capital Advisors Private Limited is the book running lead manager and KFin Technologies Limited is the registrar of the issue.