October 4, 2024
New Delhi, India
NSE SME
Sahasra Electronics Solutions had a remarkable market debut on Friday, October 4, with its shares listing at ₹537.70 on the NSE SME, marking a 90% premium over the issue price of ₹283. The IPO was highly successful, receiving 122 times subscription, driven by strong interest from non-institutional investors (NII).
Key Highlights:
- IPO Details:
The ₹186.16 crore IPO was open for subscription from September 26 to September 30 and had a price band of ₹269 to ₹283 per share.The IPO included:
- A fresh issue of 60.78 lakh shares worth ₹172.01 crore.
- An offer for sale of 5 lakh shares, totaling ₹14.15 crore.
- Subscription Data:
- Non-Institutional Investors (NII): Oversubscribed by 260 times.
- Retail Investors: Oversubscribed by 74.85 times.
- Qualified Institutional Buyers (QIB): Booked 100.80 times.
Fund Utilization:
The company plans to use the net proceeds for several key purposes, including:
- Capital Expenditure:
Installation of additional plant and machinery at its new manufacturing facility in Bhiwadi, Rajasthan. - Subsidiary Investment:
A portion of the funds will be allocated to its subsidiary, Sahasra Semiconductors Private Limited, to support its capital expenditure needs. - Working Capital and General Corporate Purposes:
Funds will also be used to meet working capital requirements and for general corporate purposes.
Company Overview:
Sahasra Electronics Solutions is a provider of electronics system design and manufacturing (ESDM) solutions. Its product range includes:
- PCB assembly
- Box build services
- LED lighting
- Memory components
- IT accessories
- Computer hardware
The company exported over 80% of its products globally during FY24, with key markets including the United States, United Kingdom, Germany, and other countries. The company has expanded its customer base from 20 customers in FY22 to around 40 customers in FY24, catering to various industries like railways, aerospace, marine, automotive, healthcare, and IT hardware.
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