Sotefin Bharat IPO opens: Issue 16% subscribed on day one so far, GMP suggests 12% listing pop
Sotefin Bharat's Rs 89.76 crore SME IPO opened to a cautious 16% subscription on Day 1, with the GMP suggesting a modest listing premium of around 11.76% over its Rs 187 upper price band.
By Ritesh Presswala, ETMarkets.com |
The BSE SME IPO of Sotefin Bharat Limited opened for subscription today (July 16) and witnessed a cautious start. As of the latest update, the public issue was subscribed to 16%, reflecting slow bidding in the early hours of Day 1.
In the grey market, the last Grey Market Premium (GMP) stood at Rs 22 per share, indicating a premium of 11.76% over the upper price band of Rs 187. Based on the current GMP, the IPO is expected to list at around Rs 209 per share, subject to market conditions.
Sotefin Bharat Limited, a leading turnkey provider of robotic and automated parking solutions, aims to raise Rs 89.76 crore through its maiden public offering. The IPO is entirely a fresh issue of 48,00,000 equity shares.
The company has set the price band for the IPO at Rs 178 to Rs 187 per equity share, with each share having a face value of Rs 10. The issue has reserved up to 13,68,000 equity shares for the QIB Anchor Portion, while the Net QIB Portion will comprise up to 9,12,000 equity shares. The Non-Institutional Investors (NII) category has been allocated not less than 6,84,000 equity shares, and the Retail Individual Investors (RII) category has been allocated not less than 15,96,000 equity shares. Additionally, up to 2,40,000 equity shares have been reserved for the Market Maker portion.
The IPO requires investors to apply for a minimum of two lots, equivalent to 1,200 equity shares, with the lot size fixed at 600 equity shares.
The IPO timeline began with the anchor investor bidding on July 15, 2026. The public issue opened for subscription on July 16, 2026, and will remain open until July 20, 2026.
The Book Running Lead Manager to the issue is Choice Capital Advisors Private Limited, while Bigshare Services Private Limited is acting as the registrar.
Utilisation of IPO Proceeds
The company intends to utilise the net proceeds raised from the IPO towards multiple strategic initiatives. A significant portion of the funds will be deployed for setting up a new manufacturing facility in Kolkata, West Bengal, along with meeting capital expenditure requirements for the proposed new office premises. The proceeds will also be used to strengthen the company’s working capital position and support general corporate purposes.
Mr. Arup Choudhuri, Managing Director, Sotefin Bharat Limited, said:
"Since our inception, Sotefin Bharat has consistently focused on delivering innovative automated parking solutions backed by engineering excellence and technological innovation. Our upcoming IPO marks an important milestone in our growth journey, enabling us to expand our manufacturing capabilities, strengthen our technology offerings, and enhance our execution capacity."
Commenting on the issue, Mr. Ratiraj Tibrewal, Director, Choice Capital Advisors Private Limited, said:
"Sotefin Bharat's focus on engineering innovation and automated parking solutions has enabled it to build a scalable business in a niche and growing market. We believe this IPO will provide the company with the financial flexibility to expand its manufacturing capabilities, strengthen execution capacity, and capitalize on the increasing demand for smart parking infrastructure across India."
About Sotefin Bharat Limited
Incorporated in 2012, Sotefin Bharat Limited is engaged in providing mechanized and automated parking solutions across India. The company is backed by its Swiss promoter, Sotefin SA, Switzerland, a global pioneer in automated parking systems since 1956, bringing more than six decades of engineering expertise to the Indian market.
The company offers comprehensive, end-to-end parking solutions, including system design, manufacturing, installation, commissioning, and operations & maintenance (O&M) services.
To date, Sotefin Bharat has completed more than 58 projects and is currently executing over 30 projects across major Indian cities such as Delhi, Mumbai, Kolkata, Pune, Varanasi, and Trivandrum, while also serving international markets including the United States and Dubai.
Financial Performance
Sotefin Bharat Limited delivered a strong financial performance in FY26, reporting revenue of Rs 11,674.65 lakh. The company recorded an EBITDA of Rs 2,983.15 lakh and posted a Profit After Tax (PAT) of Rs 1,735.56 lakh, reflecting its operational growth and profitability during the year.
With robust financial growth, a healthy order pipeline, and increasing demand for smart urban infrastructure, Sotefin Bharat is looking to strengthen its position in India's rapidly evolving automated parking solutions market through this public issue.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
In the grey market, the last Grey Market Premium (GMP) stood at Rs 22 per share, indicating a premium of 11.76% over the upper price band of Rs 187. Based on the current GMP, the IPO is expected to list at around Rs 209 per share, subject to market conditions.
Sotefin Bharat Limited, a leading turnkey provider of robotic and automated parking solutions, aims to raise Rs 89.76 crore through its maiden public offering. The IPO is entirely a fresh issue of 48,00,000 equity shares.
The company has set the price band for the IPO at Rs 178 to Rs 187 per equity share, with each share having a face value of Rs 10. The issue has reserved up to 13,68,000 equity shares for the QIB Anchor Portion, while the Net QIB Portion will comprise up to 9,12,000 equity shares. The Non-Institutional Investors (NII) category has been allocated not less than 6,84,000 equity shares, and the Retail Individual Investors (RII) category has been allocated not less than 15,96,000 equity shares. Additionally, up to 2,40,000 equity shares have been reserved for the Market Maker portion.
The IPO requires investors to apply for a minimum of two lots, equivalent to 1,200 equity shares, with the lot size fixed at 600 equity shares.
The IPO timeline began with the anchor investor bidding on July 15, 2026. The public issue opened for subscription on July 16, 2026, and will remain open until July 20, 2026.
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The Book Running Lead Manager to the issue is Choice Capital Advisors Private Limited, while Bigshare Services Private Limited is acting as the registrar.
Utilisation of IPO Proceeds
The company intends to utilise the net proceeds raised from the IPO towards multiple strategic initiatives. A significant portion of the funds will be deployed for setting up a new manufacturing facility in Kolkata, West Bengal, along with meeting capital expenditure requirements for the proposed new office premises. The proceeds will also be used to strengthen the company’s working capital position and support general corporate purposes.
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Management CommentaryMr. Arup Choudhuri, Managing Director, Sotefin Bharat Limited, said:
"Since our inception, Sotefin Bharat has consistently focused on delivering innovative automated parking solutions backed by engineering excellence and technological innovation. Our upcoming IPO marks an important milestone in our growth journey, enabling us to expand our manufacturing capabilities, strengthen our technology offerings, and enhance our execution capacity."
ADVERTISEMENT
Commenting on the issue, Mr. Ratiraj Tibrewal, Director, Choice Capital Advisors Private Limited, said:
"Sotefin Bharat's focus on engineering innovation and automated parking solutions has enabled it to build a scalable business in a niche and growing market. We believe this IPO will provide the company with the financial flexibility to expand its manufacturing capabilities, strengthen execution capacity, and capitalize on the increasing demand for smart parking infrastructure across India."
About Sotefin Bharat Limited
Incorporated in 2012, Sotefin Bharat Limited is engaged in providing mechanized and automated parking solutions across India. The company is backed by its Swiss promoter, Sotefin SA, Switzerland, a global pioneer in automated parking systems since 1956, bringing more than six decades of engineering expertise to the Indian market.
The company offers comprehensive, end-to-end parking solutions, including system design, manufacturing, installation, commissioning, and operations & maintenance (O&M) services.
To date, Sotefin Bharat has completed more than 58 projects and is currently executing over 30 projects across major Indian cities such as Delhi, Mumbai, Kolkata, Pune, Varanasi, and Trivandrum, while also serving international markets including the United States and Dubai.
Financial Performance
Sotefin Bharat Limited delivered a strong financial performance in FY26, reporting revenue of Rs 11,674.65 lakh. The company recorded an EBITDA of Rs 2,983.15 lakh and posted a Profit After Tax (PAT) of Rs 1,735.56 lakh, reflecting its operational growth and profitability during the year.
With robust financial growth, a healthy order pipeline, and increasing demand for smart urban infrastructure, Sotefin Bharat is looking to strengthen its position in India's rapidly evolving automated parking solutions market through this public issue.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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