BSE SME Sollfege Smart Electronics cools off after a roaring debut

Sollfege Smart Electronics traded at Rs 99.18 on the BSE, representing a 80.33% premium over its issue price of Rs 55.

The scrip was listed at Rs 104.40, a premium of 89.82% to the IPO price. The stock is currently frozen at its lower limit of 5% over its listing price.

The counter hit a high of Rs 104.50 and a low of Rs 99.18. About 20.64 lakh shares changed hands on the BSE.

Sollfege Smart Electronics' IPO was subscribed 2.08 times. The IPO opened for subscription on 30 September 2026 and closed on 5 October 2026. The issue price was fixed at Rs 55 per share.

The fixed-price issue comprised an entirely fresh issue of 39.60 lakh shares. Promoter Umesh Kumar Agarwal held 99.97% of the company before the IPO. His shareholding declined to 60.38% after the issue.

The company plans to use Rs 8.54 crore of the IPO proceeds for capital expenditure towards expansion of its retail network through the launch of 12 new showrooms. The company will utilise Rs 9.67 crore towards working capital requirements and Rs 1.80 crore towards general corporate expenses. Issue expenses are estimated at Rs 1.76 crore.

Incorporated in November 2012, Sollfege Smart Electronics is engaged in the distribution, integration and implementation of premium audio, video, home automation, smart living, lifestyle and wellness solutions in India. The company's product portfolio includes high-end speakers, home theatre systems, soundbars, wireless speakers, background music systems, premium displays and projectors. Its smart living solutions include home automation, networking, security and surveillance systems, lighting and climate control, smart door locks and CCTV systems.

Sollfege operates an asset-light business model and focuses on distribution, system integration and implementation rather than manufacturing. The company operates three showrooms in Kolkata, Gurgaon and Bhubaneswar and Experience Centres in Kolkata and Gurgaon. It maintains relationships with globally recognised OEM brands including Bose, Yamaha, Panasonic, Lutron, Sonos, Devialet, Focal, Epson and LG. As of August 2026, Sollfege Smart Electronics had 32 employees, including executive directors, key managerial personnel, accounts, sales and marketing, technical and operations, and service personnel.

For FY2026, Sollfege Smart Electronics reported total income of Rs 22.22 crore, compared with Rs 21.28 crore in FY2025, an increase of 4.41% YoY. PAT rose 2.82% YoY to Rs 2.19 crore from Rs 2.13 crore, while EBITDA increased 23.46% YoY to Rs 4 crore from Rs 3.24 crore. Total borrowings stood at Rs 6.98 crore as of 31 March 2026.

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