Sotefin Bharat IPO
Sotefin Bharat LtdSME
This IPO has listed.
- Open date
- 16 Jul 2026
- Close date
- 20 Jul 2026
- Min. Investment
- ₹2,24,400
- Lot Size
- -
- Fresh Issue
- ₹89.76 Cr
- Price Range
- -
- Face Value
- -
- IPO Document
- -
Subscription rate
- Qualified Institutional Buyers2.82x
- Non-Institutional Investors4.74x
- Retail-Individual Investors3.78x
- Total3.78x
Schedule
- Completed: IPO open date16 Jul 2026
- Completed: IPO close date20 Jul 2026
- Completed: Allotment date21 Jul 2026
- Completed: Funds unblock or debit22 Jul 2026
- Completed: Tentative listing date23 Jul 2026
About
Promoter shareholding in Sotefin Bharat Ltd, before and after the issue.
| Promoter | Pre-issue shares | Pre-issue % | Post-issue shares | Post-issue % |
|---|---|---|---|---|
| Jignesh Pravinchandra Sanghavi | 27,47,085 | 20.56% | 27,47,085 | 15.13% |
| Pisa International Private Lim | 27,47,085 | 20.56% | 27,47,085 | 15.13% |
| Proviron Technology SA | 27,47,085 | 20.56% | 27,47,085 | 15.13% |
| Shraddha Tejas Sheth | 25,003 | 0.19% | 25,003 | 0.14% |
| Sheetal Jignesh Sanghavi | 31,250 | 0.23% | 31,250 | 0.17% |
Sotefin Bharat IPO Strengths & Risks
- Swiss Engineering Excellence Adapted for India.
- International Quality and Safety Certifications.
- Integrated, Customized, and Scalable Execution Capabilities.
- Established Execution Track Record and Diversified Client Base.
- Domain Expertise in Automated and Smart Parking Solutions.
- Comprehensive Post-Sale Service and Long-Term Support.
- Risks Relating to the Business: The company leverages technology and source critical patented parking robot from Sotefin SA, Switzerland and has limited proprietary intellectual property. Any disruption in this supply arrangement could materially adversely affect its business, financial condition, results of operations, and prospects.
- Risks Relating to the Business: The company's revenue from operations is highly concentrated, with its top ten customers contributing 91.77%, 84.85% and 87.30% for the financial years ended March 31, 2026, March 31, 2025, and March 31, 2024, respectively. Accordingly, the company's business is significantly dependent on a limited number of key customers, and any loss of, or reduction in orders from, such customers may adversely affect its business, results of operations and financial condition.
- Risks Relating to the Business: The company's revenue is generated from projects undertaken with Government agencies. Such project / contracts is awarded on the basis of certain pre-qualification criteria and competitive selection process and are usually in a standard form, restricting its ability to negotiate the terms and conditions. Any change in the Government policies or focus and/or the company is unable to recover payments in a timely manner, would adversely affect its business and result of operations.
- Risks Relating to the Business: The company depends on third-party suppliers for raw materials and components, and any disruption in supply, price volatility, or quality issues could adversely affect its operations. Additionally, any latent defects in the company's products may increase its after-sales costs or result in losses due to product replacements or recalls.
- Risks Relating to the Business: The company faces risks related to project execution delays, and its contracts generally incorporate liquidated damages and penalty clauses which could result in significant liabilities if the company fails to meet contractual timelines.
- Risks Relating to the Business: The successful installation and operation of the company's parking systems depends on clients fulfilling specific preparatory works and infrastructure requirements, and any delays or inadequacies in client-side responsibilities could adversely affect its project execution and revenue recognition.
- Risks Relating to the Business: The company operates in a highly competitive and fragmented industry with low barriers to entry, and intense competition could result in pricing pressures, loss of market share, and reduced profitability.
- Risks Relating to the Business: The Company experienced negative cash flows from operating activities during and the financial year ended March 31, 2026. Sustained negative cash flow could adversely impact its business, financial condition and results of operations.
- Risks Relating to the Business: The company's execution track record and scale is limited compared to global players, which could affect its ability to compete for large, complex projects and expand internationally.
- Risks Relating to the Business: The company has obtained ISO 9001:2015 certification; however, failures to maintain such certification may adversely affect its business.
- Risks Relating to the Business: The company's business requires its to obtain and renew certain licenses and permits from government and regulatory authorities, and any failures or delay in obtaining or renewing them may adversely affect its operations.
- Risks Relating to the Business: There has been instances of non-compliances and pending adjudication proceedings with the Registrar of Companies in respect of certain corporate actions taken by the Company in the last three years, which may subject its to regulatory actions and penalties.
- Risks Relating to the Business: The company depends on a small team of key technical and management personnel, and the loss of key personnel or its inability to attract and retain qualified employees could adversely affect the company's operations.
- Risks Relating to the Business: The Company has entered into certain related party transactions and may continue to does so in the future.
- Risks Relating to the Business: There are certain instances of delays in payment of statutory dues. Any delay in payment of statutory dues or non-payment of statutory dues in dispute may attract financial penalties from the respective government authorities, which may have an adverse impact on the company's financial condition and cash flows.
- Risks Relating to the Business: There are outstanding legal proceedings involving the Company, Promoters, Directors, Key Managerial Personnel and Senior Management Personnel. Any adverse outcome in such legal proceedings may adversely affect its business, reputation, results of operations, financial condition and cash flows.
- Risks Relating to the Business: The Company is yet to place orders for the machineries and equipment for its proposed object, as specified in the Objects of the Issue. Any delay in placing orders, procurement of machineries and equipment may delay the company's implementation schedule and may also lead to increase in price of these machineries and equipment, further affecting its revenue and profitability.
- Risks Relating to the Business: The company's business model requires significant working capital, and its may faces liquidity challenges in funding ongoing operations and executing on the company's order book.
- Risks Relating to the Business: The company is required to furnish financial and performance bank guarantees and letter of credits as part of its business. The company's inability to arrange such guarantees and/or letters of credit may adversely affect its cash flows and financial condition.
- Risks Relating to the Business: The company is dependent on its sub-contractors to perform various portions of the contracts awarded to the company. Such dependency exposes its to certain risks such as availability and performance of the company's subcontractors.
- Risks Relating to the Business: Disclosures made in the chapter "Promoter and Promoter Group" are limited to the information available in public domain.
- Risks Relating to the Business: The company's automated parking systems is subject to compliance with multiple international and domestic technical and safety standards, and any failures to maintain compliance could result in penalties, project rejections, or legal liabilities.
- Risks Relating to the Business: The company's plans to diversify into adjacent verticals such as automated storage and retrieval systems involve significant execution risks and uncertainties, and any failures in these diversification efforts could adversely affect its financial performance and strategic focus.
- Risks Relating to the Business: There may be a delay in listing of the company's Equity Shares, or its Equity Shares may not be listed at all, which could adversely affect the liquidity of the company's Equity Shares and the ability of investors to trade in its Equity Shares.
- Risks Relating to the Business: The company has commissioned and paid for the industry report used in this Red Herring Prospectus, and investors should exercise caution in relying on such data as it may contain inherent inaccuracies or biases.
- Risks Relating to the Business: The market for automated parking systems in India is still at a developing stage, and any slowerthan- anticipated adoption of such systems could adversely affect the company's business prospects, growth, financial condition and results of operations.
- Risks Relating to the Business: The company may not be able to utilise the installed capacity at its manufacturing facility as expected, which could adversely affect the company's business, results of operations and financial condition.
- Risks Relating to the Business: The company's revenue is geographically concentrated in major Indian metropolitan cities, and adverse developments in these regions could adversely affect its business.
- Risks Relating to the Business: The company's insurance coverage may be inadequate to protect its against all potential losses, which could expose the company to significant liabilities.
- Risks Relating to the Business: The Company imports components which is denominated in foreign currency. Any significant fluctuation in exchange rates may adversely impact profitability.
- Risks Relating to the Business: The company's business growth is closely linked to the demand from the real estate and infrastructure sectors. Any downturn in these sectors due to economic, regulatory, or financial factors may directly impact order inflows.
- Risks Relating to the Business: Trade receivables and inventories form a substantial part of the company's current assets and net worth. Failures to manage the same could have an adverse effect on its net sales, profitability, cash flow and liquidity.
- Risks Relating to the Business: Any future deterioration in diplomatic or trade relations between India and Switzerland could adversely affect the company's business.
- Risks Relating to the Business: The company's complex product solutions may be prone to technical errors or bugs, which could negatively impact its customer relationships and financial performance.
- Risks Relating to the Business: The company's business is exposed to intellectual property risks arising from potential unauthorized disclosure, misuse or infringement of its core designs and technology, which could weaken the company's competitive advantage and adversely affect its operational and financial performance.
- Risks Relating to the Business: Dependence on technological advancement in the automated parking industry; any inability to adapt to emerging technologies or changing customer preferences could render the company's solutions less competitive and affect its business performance.
- Risks Relating to the Business: The company's funding requirements and proposed deployment of the Net Proceeds of the Issue has not been appraised by a bank or a financial institution, and the proposed utilization of Net Proceeds is based on, amongst others, its current business plan and management estimates, and if there are any delays or cost overruns, the company's business, cash flows, financial condition and results of operations may be adversely affected.
- Risks Relating to the Business: The company has in this Red Herring Prospectus included certain non-GAAP financial measures and certain other industry measures related to its operations and financial performance. These non-GAAP measures and industry measures may vary from any standard methodology that is applicable across the industry and therefore may not be comparable with financial or industry related statistical information of similar nomenclature computed and presented by other companies.
- Risks Relating to the Business: The company has certain contingent liabilities, and if any of these liabilities materialize, its financial condition and results of operations may be adversely affected.
- Risks Relating to the Business: The Company has availed unsecured loans which is repayable on demand. Any demand from lenders for repayment of such unsecured loans, may affect its cash flows.
- Risks Relating to the Business: The company's financing arrangements contain restrictive covenants, and any failures to comply with these covenants or repayment obligations could limit its operational flexibility and materially and adversely affect the company's business, cash flows, results of operations and financial condition.
- Risks Relating to the Business: Any variation in the objects of the Issue or the schedule of deployment of the Net Proceeds would requires shareholder approval by way of a special resolution, and any delay or inability to obtain such approval could adversely affect the company's business plans and financial condition.
- Risks Relating to the Business: The company's individual Promoters have provided personal guarantees and PISA International Private Limited has provided corporate guarantees, in respect of certain of its borrowings. Any invocation of such personal or corporate guarantees could adversely affect the company's Promoters and may potentially have an adverse impact on its business, financial condition, results of operations and cash flows.
- Risks Relating to the Business: The company is dependent on its individual Promoters, Directors, Key managerial Personnel and members of Senior Management, including other employees with sales and marketing expertise. Any loss or the company's inability to attract or retain such persons could adversely affect its business, results of operations, financial condition and cash flows.
- Risks Relating to the Business: The company's Promoters does not has prior experience of managing a listed entity, which may impact its ability to comply with regulatory requirements and corporate governance norms.
- Risks Relating to the Business: Any delay in the completion of the Issue may result in a corresponding delay in the implementation of the Objects of the Issue, which could adversely affect the company's revenues and results of operations.
- Risks Relating to the Business: The Issue Price of the company's Equity Shares may not be indicative of the market price of its Equity Shares after the Issue.
- Risks Relating to the Business: After this Issue, the price of the company's Equity Shares may be volatile, or an active trading market for its Equity Shares may not be sustained.
- Risks Relating to the Business: The investors will not be able to sell immediately on an Indian stock exchange any of the Equity Shares they purchase in the Issue.
- Risks Relating to the Business: There are restrictions on daily movements in the price of the Equity Shares, which may adversely affect a shareholder's ability to sell, or the price at which it can sell, Equity Shares at a particular point in time.
- Risks Relating to the Business: Any future issuance of Equity Shares may dilute the investors' shareholdings or sales of the company's Equity Shares by its Promoters or Promoter Group may adversely affect the trading price of the company's Equity Shares.
- Risks Relating to the Business: The Company has not paid any dividends till date, and its ability to pay dividends in the future will depends upon the company's future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in its financing arrangements.
- Risks Relating to the Business: The investors may be subject to Indian taxes arising out of capital gains on sale of Equity Shares.
- Risks Relating to the Business: Applicants to this Issue are not allowed to withdraw their Applications after the Issue Closing Date.
- Risks Relating to the Business: Foreign investors may be restricted in their ability to purchase or sell Equity Shares.
- Risks Relating to the Business: Rights of shareholders under Indian law may be more limited than under the laws of other jurisdictions.
- Risks Relating to the Business: The investors may be restricted in their ability to exercise pre-emptive rights under Indian law and may be adversely affected by future dilution of their ownership position.
- Risks Relating to the Business: The company's Equity Shares is quoted in Indian Rupees in India, and therefore investors may be subject to potential losses arising out of exchange rate risk on the Indian Rupee and risks associated with the conversion of Indian Rupee proceeds into foreign currency.
