Sonalis Consumer Products

Sonalis Consumer Products Limited IPO Review, Date, Price, GMP, Allotment

Sonalis Consumer Products Limited was established in 2022 and is involved in the distribution of nutritious bars and healthy snacks. The company acquired the business line and distribution network of Appetite Food, which had been operating for approximately three years, providing a strong foundation for Sonalis Consumer Products to expand its business in the region. Their product portfolio includes a variety of healthy snacks such as granola bars, healthy laddu and puffs, cheeseling, chakli, diet bhel, and sev.

By the end of December 2022, Sonalis Consumer Products had successfully distributed their products across three states: Maharashtra, Gujarat, and Goa, amounting to INR 420.47 Lakhs. The products are manufactured in-house at their well-equipped facilities located in Vasai, ensuring control over the manufacturing process and maintaining consistent product quality.

Sonalis Consumer Products Limited has developed an effective business model with stringent control over processes, including raw ingredient procurement, manufacturing operations, inventory management, distribution logistics across India, and management of deemed export sales. They have leveraged their understanding of target markets and consumer segments, along with product innovation capabilities and a strategically located manufacturing network, to strengthen their product brands and establish a presence across India.

The company is planning an IPO (Initial Public Offering) for Sonalis Consumer Products, which is scheduled to open on June 7 and close on June 9, 2023. The IPO will issue 9.44 lakh shares at ₹30 each, with a face value of ₹10. The lot size for the IPO is 4,000 shares, amounting to ₹1,20,000 for retail investors. The basis of share allotment will be determined on June 14, refunds will begin on June 15, and eligible investors will receive credited shares to their demat accounts on June 16. The listing of shares on BSE SME is expected to take place on June 19.

The company intends to utilize the funds raised from the IPO to partially finance working capital requirements and for general corporate purposes. Sonalis Consumer Products’ promoters, Sonali Nilesh Kocharekar and Smita Shashikant Shah are health-conscious individuals who created the nutrition-conscious snack brand, Appetite Food. With the acquisition of Appetite Food’s business line and distribution, Sonalis Consumer Products aims to expand its product offerings, which include granola bars and various Indian savory and sweet items.

In addition to its own product range, the company also manufactures products under private labeling and contract manufacturing arrangements, as well as engages in the trading of agro products. With a PAN India distribution channel, Sonalis Consumer Products has successfully distributed products worth Rs. 295.19 lakhs in Maharashtra, Gujarat, and Goa as of September 30, 2022.

Key competitive strengths of Sonalis Consumer Products include a widespread sales and distribution network, a diversified product portfolio, and an experienced promoter and management team.

Sonalis Consumer Products Limited IPO Complete Details:

IPO Date07 June 2023 to 09 June 2023
Issue TypeFixed Price Issue IPO
Listing AtBSE SME
Face Value10 Rs. Per Share
Lot Size4000
Issue Size944,000 shares (Rs. 2.83 Cr)
Fresh Issue944,000 shares (Rs. 2.83 Cr)
Listing Date19 June 2023

Sonalis Consumer Products Limited IPO Timetable:

Opening Date07 June 2023
Closing Date09 June 2023
Allotment14 June 2023
Initiation of Refunds15 June 2023
Credit of Shares to Demat Account16 June 2023
Listing Date19 June 2023
* Date May Change

Company Financial Details:

Period EndedAssetsRevenueProfit After TaxNet WorthReserves and Surplus
31 March 20215.60.4
31 March 202293.130.82
30 September 2022295.1937.95
31 December 2022649.77420.4768.45349.21243.71
Amount In Crores

AS OF NOW, the GMP OF Sonalis Consumer Products Limited is Around 3 Rs.

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