Sollfege Smart Electronics IPO to raise ₹21.7 cr, open on Sep 30
Shares to be listed on the BSE SME platform with a tentative listing date of October 8
Kolkata-based Sollfege Smart Electronics announced plans to raise ₹21.78 crore through an initial public offering (IPO) to fuel its expansion of the retail network. The IPO will open for subscription on September 30 and conclude on October 5, with shares slated for listing on the BSE SME platform on October 8. The company intends to use the fresh issuance of up to 39.60 lakh equity shares, valued at ₹55 per share, to bolster its working capital by ₹9.67 crore and accelerate retail network growth by opening 12 new showrooms, spending around ₹8.54 crore.
An additional ₹1.80 crore will be allocated for general corporate purposes. In a statement, Sollfege Smart Electronics' Managing Director, Umesh Kumar Agarwal, emphasized the company's commitment to enhancing market presence, improving customer experience, and solidifying its position as a trusted name in premium home entertainment and smart living solutions.
Established in 2012, the company specializes in premium audio, video, and home automation solutions, witnessing a surge in total income from ₹12.74 crore in FY23 to ₹21.28 crore in FY25, alongside a rise in profit after tax from ₹36 lakh to ₹2.13 crore. Sollfege's expansion of its retail footprint aims to bolster market reach and capitalize on the growing demand for premium home entertainment and connected-living solutions. Finshore Management Services is the sole book-running lead manager for the IPO.
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