Sonaselection India IPO Day 2: GMP at 7%—Check Subscription Status and Key Insights!

The Sonaselection India IPO has commenced its bidding process, currently at its halfway point with a three-day window closing on September 21, 2026. The public issue, valued at Rs 141.57 crore, features a price band set between Rs 94 and Rs 99 per share, and is entirely a fresh issue comprising 1.43 crore equity shares. So far, on Day 1, the issue recorded a 47% overall subscription rate, with retail participation particularly strong at 77% of the allocated shares for individual investors. The share allotment is slated for September 22, while the debut on the NSE and BSE is anticipated for September 24.

The current grey market sentiment indicates a Grey Market Premium (GMP) of around Rs 2, which translates to a 2% premium over the upper end of the IPO price band. This suggests a tentative estimated listing price of Rs 101 per share. However, it is critical to remember that GMP serves as an unofficial indicator and may vary based on market fluctuations. The IPO’s healthy subscription rate—especially from retail investors—indicates robust market confidence and suggests that investors are optimistic about the company’s prospects, which has posted significant year-on-year growth in both income and profitability.

For Indian investors, the Sonaselection India IPO represents a compelling opportunity in the textile manufacturing sector, especially given the company’s recent transition to a manufacturing-led model. The funds raised through the IPO are aimed at debt reduction and capital expenditure, which should enhance financial stability and operational capacity. As the company continues to leverage its integrated manufacturing capabilities and modern facilities, potential retail investors might see the IPO as a way to capitalize on the expected growth trajectory of this promising entity in the burgeoning Indian textile market.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)