Sona Machinery IPO Dips 12.59% on Debut but Bounces Back with 4% Surge!Sona Machinery IPO Dips 12.59% on Debut but Bounces Back with 4% Surge!

Sona Machinery’s IPO saw a disappointing start on the NSE SME platform, debuting at ₹125 per share, a 12.59% decrease from its initial price of ₹143. Despite a lackluster opening, the stock managed a modest 4% recovery. The IPO, which was open from March 5 to 7, had a price range of ₹136-₹143.

Sona Machinery is a versatile agro-processing equipment manufacturer, specializing in machinery for processing a variety of agricultural products such as rice, pulses, wheat, and spices. Their extensive product range includes various machines like Grains Pre-Cleaners, Rice De-Huskers, and Silky Polishers, along with complete project solutions for rice mills and ethanol distilleries. They offer comprehensive services from engineering to commissioning, serving domestic and international markets with a focus on domestic sales, accounting for 98.87% of total revenue.

Sona Machinery Ltd’s IPO aims to finance the establishment of a new manufacturing unit in Ghaziabad (INR 28.91 crores) and repay a Letter of Credit facility (INR 2 crores) used for machinery purchase.