1. Company Overview
Sollfege Smart Electronics Limited (incorporated in November 2012 as Denn Audio Private Limited and later renamed before converting to a public limited company) operates in the premium segment of audio-video integration, home automation, smart living, lifestyle electronics, and wellness solutions. Headquartered in Kolkata, West Bengal, the company provides distribution, technology integration, and end-to-end design solutions.
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Core Solutions & Products: Integrates high-end home theater systems, architectural sound setups, automated lighting & shading controls, smart security, and lifestyle wellness electronics.
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Business Model: Follows an experience-first model. Teams handle consultation, custom system engineering, installation, and post-installation support for B2B and B2C clients.
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Retail Network: Operates experience centers/showrooms across key geographies, including Kolkata, Gurgaon, and Bhubaneswar.
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Target Audience: Serves high-net-worth individuals (HNIs), luxury residential projects, commercial offices, and institutional spaces requiring custom smart space integration.
2. Performance
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Revenue Expansion: Revenue from operations grew from ₹12.74 crore in FY23 to ₹19.84 crore in FY24, reaching ₹21.28 crore in FY25. For the first half of FY26 (ended September 30, 2025), total income stood at ₹10.76 crore.
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Profitability Trajectory: Net profit (PAT) increased significantly from ₹0.36 crore in FY23 to ₹1.76 crore in FY24 and ₹2.13 crore in FY25. PAT for H1 FY26 stood at ₹1.05 crore.
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Efficiency Metrics: Delivered a Return on Equity (ROE) of 32.27% and a Return on Capital Employed (ROCE) of 27.79% in FY25.
3. IPO Details
| Parameter |
Details |
| IPO Bidding Dates |
September 30, 2026 – October 5, 2026 |
| Tentative Listing Date |
October 8, 2026 (BSE SME Platform) |
| Fixed Issue Price |
₹55 per equity share |
| Face Value |
₹10 per equity share |
| Total Issue Size |
39,60,000 Shares (aggregating up to ₹21.78 Crore) |
| Fresh Issue Portion |
39,60,000 Shares (100% Fresh Issue, 0 OFS) |
| Market Maker Quota |
2,00,000 Shares (~₹1.10 Crore) |
| Net Offer to Public |
37,60,000 Shares (~₹20.68 Crore) |
| Allocation Structure |
Retail (RII): 50% | Non-Institutional (NII): 50% |
| Minimum Retail Lot Size |
1 Lot (2,000 shares) = ₹1,10,000 |
| Minimum HNI Lot Size |
3 Lots (6,000 shares) = ₹3,30,000 |
| Registrar to the Issue |
KFin Technologies Limited (formerly Karvy Computershare) |
Objects of the Fresh Issue
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Funding capital expenditure for expanding the retail network by launching 12 new showrooms (₹8.54 Crore).
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Funding working capital requirements (₹9.67 Crore).
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General corporate expenses (₹1.80 Crore).
4. Financial Details
Financial Summary (Amounts in ₹ Crore)
| Financial Metric |
FY23 |
FY24 |
FY25 |
H1 FY26 (as of Sep 30, 2025) |
| Total Income |
₹12.74 |
₹19.84 |
₹21.28 |
₹10.76 |
| EBITDA |
₹0.66 |
₹1.73 |
₹3.24 |
₹1.94 |
| Profit After Tax (PAT) |
₹0.36 |
₹1.76 |
₹2.13 |
₹1.05 |
| Net Worth |
₹1.99 |
₹3.75 |
₹9.43 |
₹10.47 |
| Total Assets |
₹10.09 |
₹12.30 |
₹24.83 |
₹31.71 |
Key Valuation Ratios & Metrics
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Pre-Issue Share Capital: 60,40,000 shares
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Post-Issue Share Capital: 1,00,00,000 shares
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Implied Market Capitalization: ₹55.00 Crore (at ₹55 per share)
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Return on Equity (ROE): 32.27% (FY25)
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Return on Capital Employed (ROCE): 27.79% (FY25)
