Sotefin Bharat launches IPO July 16 priced ₹178-₹187 per share
Business
Sotefin Bharat, the company behind those smart automated parking systems in West Bengal, is launching its IPO on July 16.
Shares will be offered at ₹178 to ₹187 each, with a goal of raising up to ₹89.76 crore by selling 48 lakh shares.
If you're interested, the anchor book opens July 15, and subscriptions run through July 20.
Proceeds for Kolkata plant, working capital
A significant portion of the money raised will go toward working capital, with additional funds for a new manufacturing facility in Kolkata, a new office, and general needs.
Sotefin Bharat has been on a strong growth streak lately: profits jumped by over 50% this year, and revenue is also up.
Trading starts July 23 on the BSE SME platform, so keep an eye out if you're curious about investing in tech-driven infrastructure!