Sonaselection IPO Day 2: Subscribed 0.82x; Retail surges 46%; NII jumps
- Sonaselection IPO subscription stands at 0.82x on Day 2.
- Retail demand surged 46.4% to 1.42x, leading the issue.
- NII (bHNI) jumped 52.8% to 0.55x, showing strong interest.
- QIB participation remained flat at 0.11x throughout the day.
- The issue closes on 21-09-2026 with a price band of ₹94-₹99.
*this image is generated using AI for illustrative purposes only.
Sonaselection IPO subscription accelerated to 0.82x on Day 2, driven by a sharp 46.4% surge in retail demand to 1.42x. Non-Institutional Buyers (bHNI) also picked up pace, jumping 52.8% to 0.55x, while QIB participation remained flat at 0.11x.
Subscription Status
The issue saw significant momentum on Day 2, with total subscription rising from 0.61x at midday to 0.82x by the latest update. Retail investors continue to lead the demand, crossing the 1x threshold early in the day and continuing to climb. The NII segment also showed strong improvement, particularly among bHNI investors.
| Day | Date | QIB | NII (bHNI) | NII (sHNI) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 | 17-09-2026 | 0.11x | 0.30x | 0.20x | 0.76x | 0.46x |
| Day 2 | 18-09-2026 | 0.11x | 0.55x | 0.29x | 1.42x | 0.82x |
Category-wise Breakdown
Retail investors accounted for the largest share of the subscription, ticking up to 1.42x from 0.76x on Day 1. The NII segment also saw growth, with bHNI rising to 0.55x and sHNI to 0.29x. However, QIB demand did not move, staying at 0.11x.
Intra-day Timeline
Subscription figures picked up pace after 11 am on Day 2. NII (bHNI) jumped +52.8% today (from 0.36x to 0.55x), while Retail jumped +46.4% today (from 0.97x to 1.42x).
| Time (IST) | QIB | NII (bHNI) | Retail | Total |
|---|---|---|---|---|
| 11:15 | 0.11x | 0.36x | 0.97x | 0.57x |
| 12:15 | 0.11x | 0.41x | 1.03x | 0.61x |
| 13:15 | 0.11x | 0.55x | 1.42x | 0.82x |
Offer Details
- Price Band: ₹94.00000 - ₹99.00000
- Issue Size: ₹14,100 - ₹5,00,000 lakh (approx)
- Min Bid Qty: 150
- Open Date: 17-09-2026
- Close Date: 21-09-2026
About the Company
Sonaselection is an integrated fabric manufacturing and processing company based in Bhilwara, Rajasthan. It specializes in producing value-added products including 100% cotton fabric, cotton lycra, cotton blends, and polyester blends. The company operates an installed processing capacity of 82.44 million meters per annum.
Financial Highlights
| Metric | FY 2026 (₹ crores) | FY 2025 (₹ crores) | FY 2024 (₹ crores) |
|---|---|---|---|
| Revenue from Operations | 516.95 | 315.95 | 120.98 |
| Total Profit | 34.02 | 18.56 | 13.09 |
| Total Assets | 474.99 | 374.77 | 203.50 |
Objects of the Issue
- Repayment/pre-payment of certain borrowings: ₹80.00 crores
- Funding capital expenditure for plant and machinery: ₹50.61 crores
- General Corporate Purposes
Risk Factors
- Geographic concentration risk in Rajasthan.
- Dependency on a single manufacturing facility.
- Negative cash flows from operations in recent fiscals.
- High debt-to-equity ratio.
- Customer and supplier concentration risks.
Will the lack of QIB interest persist through Day 3, potentially leading to a lower listing gain or issue oversubscription challenges?
How might Sonaselection's high debt-to-equity ratio and negative operating cash flows impact investor sentiment if the final subscription remains retail-dominated?
Could the strong retail demand signal a broader shift in Indian IPO markets towards small-cap manufacturing stocks despite macroeconomic headwinds?
15
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
