Sodhani Academy of Fintech Enablers Shares Jump 32% on Stock Market Debut with Strong Investor Demand

Sodhani Academy of Fintech Enablers made a solid entry into the stock market today with its shares listing at ₹53 apiece on the BSE SME platform. This marked a 32.5% premium over the issue price of ₹40 per share. The listing lived up to expectations as the company’s grey market premium (GMP) before the debut was ₹12 per share, indicating a listing premium of about 30%.

The IPO of Sodhani Academy of Fintech Enablers was an SME IPO, meaning it was part of the small and medium enterprises segment, and the shares are now officially listed on the BSE SME platform. The company’s IPO, which opened for subscription on September 12 and closed on September 17, saw an overwhelming response from investors. The allotment of shares was finalized on September 18, and the listing date was set for September 23.

The Sodhani Academy of Fintech Enablers IPO raised ₹6.12 crore in total. This included a fresh issue of 9.7 lakh equity shares, which raised ₹3.88 crore, and an offer for sale (OFS) of 5.6 lakh equity shares, amounting to ₹2.24 crore. The company set the IPO price band at ₹40 per share.

During the subscription period, the IPO garnered significant interest and was oversubscribed by 438.72 times in total. The retail investor category alone was subscribed 358.47 times, and the “Other” category saw even higher demand with a subscription rate of 511.34 times, highlighting the strong investor confidence in the company.

The company, which specializes in financial training, consulting, and learning services, has shown impressive financial growth in recent times. In the fiscal year 2023-2024, Sodhani Academy of Fintech Enablers reported a revenue increase of 51%, climbing to ₹3.06 crore. Its net profit also saw a substantial rise of 32%, reaching ₹1.83 crore in the same period, showcasing its successful business model and financial health.

Sodhani Academy of Fintech Enablers is now part of the list of companies that are riding the wave of growing investor interest in SME IPOs. The public issue was managed by Srujan Alpha Capital Advisors LLP, the book-running lead manager for the IPO, while Cameo Corporate Services Ltd served as the registrar of the issue, responsible for managing the allotment and other investor-related services.

The successful IPO and strong listing performance reflect the market’s confidence in the company and its potential for growth, especially as it continues to offer financial education and consulting services, a growing sector in India’s rapidly evolving financial landscape.