Sollfege Smart Electronics IPO raises ₹21.78 cr for showroom push

Kolkata-based Sollfege Smart Electronics will raise ₹21.78 crore through an initial public offering, a fully fresh issue of up to 39.60 lakh equity shares priced at ₹55 each, according to a statement. The offer opens for subscription on September 30 and closes October 5. Shares will list on the BSE SME platform with a tentative listing date of October 8.

Net proceeds of about ₹9.67 crore will fund working capital requirements. Another ₹8.54 crore is earmarked for retail network expansion through 12 new showrooms, and ₹1.80 crore will go to general corporate purposes.

Umesh Kumar Agarwal, managing director, framed the issue as the next stage of the company's growth.

"As we enter the next phase of our journey, our focus will remain on strengthening our market presence, enhancing the customer experience and building Sollfege as a trusted name in premium home entertainment and smart living solutions," Agarwal said in a statement.

Sollfege was established in 2012 and sells premium home-entertainment and home-automation products. Total income rose from ₹12.74 crore in fiscal 2023 to ₹21.28 crore in fiscal 2025. Profit after tax climbed from ₹36 lakh to ₹2.13 crore in the same period.

Because the entire offer is a fresh issue, no existing shareholders are selling stakes, and the proceeds flow straight into the company. The firm said the showroom push will widen customer reach as demand for premium home entertainment and connected-living solutions grows. Finshore Management Services is the sole book-running lead manager for the IPO.