Sahasra Electronic Solutions Limited is an Electronic System Design and Manufacturing company that provides electronic system design and manufacturing (“ESDM”) services at its Noida plant. The company is poised for its initial public offering (IPO), with plans to raise INR 186.16 crores through the issuance of 65.78 lakh new shares.
For its SME Initial Public Offering (IPO), Sahasra Electronic Solutions Limited has established a price band of Rs 269 to Rs 283 per share. The company’s shares will open for subscription on September 26, 2024 and closes on September 30, 2024. These will be listed on the NSE Emerge, with a projected listing date of Friday, October 4, 2024.
Hem Securities Limited is the book running lead manager of the Sahasra Electronics Solutions IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
The issue proceeds will be utilized in Funding Capital Expenditure towards the installation of additional plant and machinery at a new manufacturing facility situated at Bhiwadi, Rajasthan, Investment in the Subsidiary, Sahasra Semiconductors Private Limited, for financing its capital expenditure requirements for the installation of additional plant and machinery, to meet working capital requirements and general corporate purposes.
Tuesday, October 1, 2024, the shares for the Sahasra Electronic Solutions IPO are anticipated to be allotted, and on Thursday, October 3, 2024, the shares will be credited to the demat account of the allottees. The IPO comprises 50% of the net issue for QIB, 35% for retail investors and 15% of the net issue for the NII segment.
Retail investors need to contribute a minimum of Rs 1,13,200 considering the minimum lot size for an application is 400 shares. For HNIs, the minimum bidding size is two lots, or 800 shares, for a total investment of Rs 2,26,400 lakh at the upper price band.
Sahasra Electronics Solutions Limited’s Revenue Rs.101.15 Crs and profit after tax (PAT) 32.63 Crs for the financial year ending with March 31, 2024.
Sahasra Electronic Solutions provides products and solutions such as printed circuit board (“PCB”) assembly, Box Build, and LED lighting. Memory, IT accessories, computer and IT hardware. During FY 2024, the company exported over 80% of its products and solutions to global manufacturers in countries such as the United States of America, Rwanda, Tunisia, the United Kingdom, Germany, Canada, Austria, and Belgium.
The company has a manufacturing capacity of 1.8 million units through its ISO9001 & EN 9100:2018 certified plant in Noida.
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