GMP IPO Watch
SonaSelection India IPO Overview
SonaSelection India IPO is scheduled to open for subscription on 17 September 2026 and close on 21 September 2026. The company operates in the textile manufacturing and processing industry and focuses on value-added fabrics for fashion and apparel applications.
SonaSelection follows a vertically integrated manufacturing model covering textile processing and fabric production. Its product portfolio includes 100% cotton fabrics, stretch fabrics, cotton blends and polyester blends. The company operates its manufacturing facility in Bhilwara, Rajasthan.
The IPO is entirely a fresh issue of around 1.43 crore equity shares. The company intends to use a substantial portion of the proceeds for debt repayment and investment in plant and machinery.
| Particular | Details |
|---|---|
| IPO Name | SonaSelection India IPO |
| IPO Open Date | 17 September 2026 |
| IPO Close Date | 21 September 2026 |
| Price Band | ₹94–₹99 |
| Issue Size | ₹141.57 Crore |
| Issue Type | Fresh Issue |
| Fresh Shares | 1.43 Crore |
| OFS | Nil |
| Face Value | ₹10 |
| Lot Size | 150 Shares |
| Minimum Investment | ₹14,850 |
| Listing Exchange | NSE & BSE |
| Allotment Date | 22 September 2026 |
| Refund/Demat | 23 September 2026 |
| Listing Date | 24 September 2026 |
| Lead Manager | Choice Capital Advisors |
| Registrar | KFin Technologies |
SonaSelection India IPO GMP Today
The latest SonaSelection India IPO GMP is not started. IPOWatch's latest update dated 14 September 2026 shows no grey-market premium quotation for the IPO.
Since the IPO is yet to open, there is currently no unofficial premium that can be used to estimate a listing gain. GMP is an unofficial market indicator and can change once the issue approaches its subscription period.
| GMP Indicator | Details |
|---|---|
| Latest GMP | Not Started |
| Upper IPO Price | ₹99 |
| Expected Listing Price | Not Available |
| Estimated Gain | Not Available |
| GMP Status | Not Started |
SonaSelection India IPO Important Dates
The IPO will remain open for five days, from 17 September to 21 September 2026. The basis of allotment is expected on 22 September, followed by refunds and share credit on 23 September. The shares are scheduled to list on NSE and BSE on 24 September 2026.
| Event | Date |
|---|---|
| IPO Opens | 17 September 2026 |
| IPO Closes | 21 September 2026 |
| Allotment | 22 September 2026 |
| Refund Initiation | 23 September 2026 |
| Share Credit | 23 September 2026 |
| Listing | 24 September 2026 |
SonaSelection India IPO Subscription Status
The SonaSelection India IPO subscription has not started yet. QIB, NII and retail subscription figures will become available after bidding begins on 17 September.
Investors should track the category-wise subscription numbers throughout the issue period. The final subscription response can provide a better indication of investor demand than the current grey-market situation.
| Category | Subscription |
|---|---|
| QIB | Not Started |
| NII | Not Started |
| Retail | Not Started |
| Overall | Not Started |
SonaSelection India IPO Lot Size and Investment
The IPO lot size is 150 shares. At the upper price band of ₹99, one lot requires an investment of ₹14,850.
The minimum application amount is therefore much lower than many SME IPOs, making the issue accessible to a wider range of retail investors.
| Particular | Details |
|---|---|
| IPO Price | ₹94–₹99 |
| Lot Size | 150 Shares |
| One Lot at ₹99 | ₹14,850 |
| Minimum Lots | 1 |
| Minimum Shares | 150 |
| Minimum Investment | ₹14,850 |
SonaSelection India Company Business
SonaSelection India is a textile manufacturing and processing company based in Rajasthan. The company produces fabrics for fashion and apparel applications, including 100% cotton, cotton stretch, cotton blends, polyester blends and other value-added textile products.
Its vertically integrated approach allows the company to undertake multiple stages of textile processing, including bleaching, dyeing, finishing, quality checking, grading and packing. The company also uses job-work arrangements where required to complete parts of the manufacturing cycle.
The company states that its manufacturing infrastructure has a capacity of around 82.44 million metres per annum. It also highlights in-house testing, automation and sustainability initiatives including zero-liquid-discharge wastewater treatment and renewable energy generation.
SonaSelection India IPO Financial Performance
SonaSelection India has reported substantial growth in revenue and profitability over the last three financial years. Revenue from operations increased from around ₹121.31 crore in FY2024 to ₹316.47 crore in FY2025 and ₹517.60 crore in FY2026.
Profit after tax also increased from ₹6.82 crore in FY2024 to ₹18.56 crore in FY2025 and ₹34.02 crore in FY2026.
| Financial Year | Revenue | PAT | EBITDA |
|---|---|---|---|
| FY2024 | ₹121.31 Cr | ₹6.82 Cr | ₹28.49 Cr |
| FY2025 | ₹316.47 Cr | ₹18.56 Cr | ₹58.12 Cr |
| FY2026 | ₹517.60 Cr | ₹34.02 Cr | ₹84.77 Cr |
The company's financial growth has been supported by increasing textile processing activity and a shift toward value-added fabric manufacturing.
SonaSelection India IPO Financial Ratios
The FY2026 financial ratios show strong profitability and return metrics, although the company's leverage remains an important point for investors to consider.
The debt-to-equity ratio was around 2.48x according to IPOWatch, while other offer-document-based sources report approximately 2.96x depending on the financial-period presentation. Investors should refer to the final offer document for the exact post-issue calculation.
| Particular | FY2026 |
|---|---|
| EPS | ₹8.09 |
| EBITDA Margin | 16.40% |
| PAT Margin | 6.58% |
| RoNW | 39.05% |
| ROCE | 19.69% |
| Debt/Equity | ~2.48x |
| NAV | ₹24.78 |
SonaSelection India IPO Objects of the Issue
The company intends to use the IPO proceeds for strengthening its balance sheet and expanding manufacturing capacity.
Around ₹80 crore is proposed for repayment or prepayment of borrowings, while approximately ₹50.61 crore is planned for purchasing plant and machinery at the Hamirgarh facility. The remaining proceeds are intended for general corporate purposes and issue-related requirements.
| Use of Funds | Amount |
|---|---|
| Debt Repayment/Prepayment | ₹80.00 Cr |
| Plant & Machinery | ₹50.61 Cr |
| General Corporate Purpose | Balance Amount |
| Total Issue | ₹141.57 Cr |
The debt-reduction component is significant because the company currently operates with relatively high financial leverage. Successful repayment could help reduce interest costs and improve the balance sheet.
SonaSelection India IPO Strengths
Strong revenue growth: Revenue increased substantially from ₹121.31 crore in FY2024 to ₹517.60 crore in FY2026.
Improving profitability: PAT increased from ₹6.82 crore to ₹34.02 crore over the same period.
Integrated textile operations: The company handles multiple stages of fabric processing, supporting quality control and faster turnaround.
Large manufacturing capacity: The company reports textile processing capacity of around 82.44 million metres per annum.
Value-added products: Its product portfolio includes cotton, stretch, blended and finished fabrics for fashion and apparel applications.
Debt reduction: ₹80 crore of IPO proceeds is proposed for repayment or prepayment of borrowings.
Capacity expansion: Around ₹50.61 crore is proposed for plant and machinery, supporting future manufacturing growth.
SonaSelection India IPO Risks
SonaSelection operates in a competitive textile industry where demand, raw material prices, fashion trends and export conditions can affect business performance.
The company's debt-to-equity ratio is relatively high. Higher leverage can increase interest costs and financial risk, particularly if textile demand weakens or margins come under pressure.
The textile industry is also exposed to fluctuations in cotton, yarn, dyes, chemicals and other input costs. Any sharp increase in raw material prices that cannot be passed on to customers could affect profitability.
Another consideration is the company's dependence on the fashion and apparel industry. Changes in consumer preferences, international competition and demand cycles can affect orders.
The company has also disclosed historical instances of irregularities, discrepancies in Registrar of Companies filings and other non-compliances, which investors should review carefully in the offer documents.
SonaSelection India IPO Valuation
At the upper price band of ₹99, the company is being offered at a valuation that investors should assess against its FY2026 earnings, growth rate, debt position and return ratios.
The reported FY2026 EPS is ₹8.09, while NAV is around ₹24.78. The company has strong RoNW and EBITDA margins, but its relatively high debt-to-equity ratio is an important valuation consideration.
| Valuation Metric | FY2026 |
|---|---|
| Upper IPO Price | ₹99 |
| EPS | ₹8.09 |
| NAV | ₹24.78 |
| RoNW | 39.05% |
| P/B at ₹99 | ~4.0x |
| Debt/Equity | ~2.48x |
SonaSelection India IPO Review
SonaSelection India IPO presents a growth-focused textile manufacturing story. The company has recorded a sharp increase in revenue and profit over the last three years, while its integrated manufacturing model and large processing capacity provide a platform for further expansion.
The proposed use of ₹80 crore for debt repayment is a positive factor because it can help reduce financial leverage. The planned ₹50.61 crore investment in plant and machinery could also support additional capacity and production capabilities.
However, investors should not overlook the company's high debt-to-equity ratio and the cyclical nature of the textile industry. Raw material prices, fashion demand, competition and operating costs can affect margins. The historical compliance matters disclosed by the company also deserve attention.
The current GMP has not started, so there is presently no grey-market indication of a listing premium. Investors should monitor GMP and subscription demand once the IPO opens rather than relying on pre-issue expectations.
Overall, SonaSelection India IPO could attract investors looking for exposure to a fast-growing textile processing business, but the company's leverage and industry risks should be evaluated carefully.
SonaSelection India IPO Key Highlights
- IPO opens on 17 September 2026
- IPO closes on 21 September 2026
- Price band is ₹94–₹99
- Issue size is ₹141.57 crore
- Entire issue is a fresh issue
- Fresh issue is approximately 1.43 crore shares
- Lot size is 150 shares
- Minimum investment is ₹14,850
- Latest GMP is not started
- FY2026 revenue was ₹517.60 crore
- FY2026 PAT was ₹34.02 crore
- FY2026 EBITDA was ₹84.77 crore
- FY2026 EPS was ₹8.09
- FY2026 EBITDA margin was 16.40%
- FY2026 PAT margin was 6.58%
- Proposed debt repayment is ₹80 crore
- Around ₹50.61 crore is planned for plant and machinery
- Textile processing capacity is around 82.44 million metres per annum
- Expected listing date is 24 September 2026
SonaSelection India IPO Conclusion
SonaSelection India IPO offers exposure to an integrated textile manufacturing and processing business that has delivered strong revenue and profit growth. The company's value-added fabric portfolio, large processing capacity and planned investment in plant and machinery provide potential growth opportunities.
The proposed ₹80 crore debt repayment is another important positive because it could strengthen the balance sheet. At the same time, investors should carefully consider the company's relatively high leverage, textile-sector cyclicality, raw material price risks, competitive environment and disclosed historical compliance matters.
With the GMP currently not started, there is no unofficial premium available to estimate listing gains. Investors should track the subscription response, GMP movement and final offer-document disclosures before making an investment decision.
Disclaimer: IPO GMP is an unofficial market indicator and can change at any time. This article is for informational purposes only and should not be considered investment advice.
