SME IPO: Sollfege Smart Electronics to raise Rs 21.7-cr; issue to open on Sep 30

New Delhi, Kolkata-based Sollfege Smart Electronics will raise Rs 21.78 crore through an initial public offering to fund its retail network expansion plans, according to a statement.

The initial public offering (IPO) will open for subscription on September 30 and conclude on October 5. The shares will be listed on the BSE SME platform with a tentative listing date of October 8.

The public offer is entirely a fresh issue of up to 39.60 lakh equity shares and priced at Rs 55 per share, aggregating to Rs 21.78 crore.


The net proceeds from the issue, around Rs 9.67 crore, will be used by Sollfege Smart Electronics to fund its working capital requirements, and Rs 8.54 crore will be utilised to accelerate the expansion of its retail network by launching 12 new showrooms.

Another Rs 1.80 crore has been earmarked for general corporate purposes.

"As we enter the next phase of our journey, our focus will remain on strengthening our market presence, enhancing the customer experience and building Sollfege as a trusted name in premium home entertainment and smart living solutions," said Umesh Kumar Agarwal, Managing Director, Sollfege Smart Electronics Ltd.

Established in 2012, Sollfege Smart Electronics is in the business of premium audio, video and home automation solutions.

Its total income increased from Rs 12.74 crore in FY23 to Rs 21.28 crore in FY25. During the same period, Sollfege's profit after tax rose from Rs 36 lakh to Rs 2.13 crore.

The company said the planned retail expansion will help strengthen its presence and widen customer reach as demand for premium home entertainment and connected-living solutions grows. Finshore Management Services is the sole book-running lead manager for the IPO. PTI