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Sollfege Smart Electronics Ltd IPO
Sollfege Smart Electronics Ltd
₹2,20,000 /4000 sharesMinimum investment
IPO listing details
Listed on
8 Oct '26
Issue price
₹55.00
Listing price
₹104.40
Listing gains
₹49.40 (89.82%)
Exchange
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IPO details
Minimum investment
₹2,20,000
Price range
₹55 - ₹55
Lot size
2,000
Issue size
21.78 Cr
Face value
10
IPO document
Subscription rate
Data will be available soon
Schedule
30 Sep 2026
IPO open date
5 Oct 2026
IPO close date
6 Oct 2026
Allotment date
6 Oct 2026
Funds unblock or debit
8 Oct 2026
Tentative listing date
About
Founded in
2012
MD/CEO
Mr Umesh Kumar Agarwal
Parent organisation
Sollfege Smart Electronics Ltd
Sollfege Smart Electronics Financials
Revenue
Total Assets
Profit
All values are in ₹ Cr
Strengths & Risks
Strengths
Risks
The company has associations with globally recognised brands across the audio, video, home automation and lifestyle electronics segments. It acts as an authorised seller for products such as speakers, home theatre systems, projectors, televisions, automation systems and lifestyle products.
The company has technically trained sales, engineering and service teams. It states that its personnel undergo certification programs and technical workshops conducted by global brand partners, with expertise in system integration, networking design and cross-brand compatibility.
The company provides end-to-end project services, covering concept development, system design, procurement, installation, testing and commissioning. Its solutions include home theatres, integrated audio-visual systems, smart home automation, lighting controls and lifestyle integrations.
The company manages multi-stakeholder projects through an internal project management process. It coordinates with customers, architects, contractors and suppliers while using standardised workflows, planning tools and internal review systems for project execution.
The company uses digital tools such as WeQuote for preparing quotations. The platform is used to present project scope, components and pricing, while also supporting internal coordination and margin control.
The company has a structured after-sales service network covering maintenance, troubleshooting and system upgrades. It also provides service agreements and on-call technical assistance for its installations.
The company has diversified its product portfolio beyond audio and video equipment. It now operates across audio, video, smart home automation, lifestyle electronics, networking, security, surveillance and wellness solutions, allowing it to serve different technology requirements within residential and commercial projects.
The company has witnessed a consistent increase in its revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 18.53 crore in FY24 to Rs 21.01 crore in FY25 and Rs 22.21 crore in FY26. PAT increased from Rs 1.76 crore in FY24 to Rs 2.13 crore in FY25 and Rs 2.19 crore in FY26.
The company, its directors, promoters and group companies are involved in certain ongoing legal proceedings before various courts and forums. Any adverse decision in these proceedings could have a material adverse effect on the company’s business, results of operations and financial condition.
The company’s retail sales are highly concentrated in West Bengal, with its store in the state contributing Rs 20.15 crore (90.72%), Rs 18.70 crore (89.00%), and Rs 17.46 crore (94.21%) to total revenue from operations in FY26, FY25, and FY24, respectively. Any adverse political, economic, demographic or competitive developments in West Bengal, including intensified promotional activities by competitors, could adversely affect the company’s market share, revenue and results of operations.
The company is dependent on a limited number of brands, with its top five brands contributing Rs 9.00 crore (41.27%), Rs 8.09 crore (38.60%), and Rs 9.47 crore (51.14%) of turnover in FY26, FY25, and FY24, respectively. Any loss of a significant brand, reduction in supply or sales volume from these brands, or inability to maintain relationships with them could adversely affect the company’s revenue and profitability.
The company derives almost all of its revenue from trading activities, which accounted for Rs 21.81 crore (98.20%), Rs 20.97 crore (99.78%), and Rs 18.51 crore (99.89%) of total revenue in FY26, FY25, and FY24, respectively. Within trading activities, Audio Solutions, Smart Living Solutions and Video Solutions contributed Rs 9.46 crore (42.62%), Rs 9.28 crore (41.80%) and Rs 3.06 crore (13.78%), respectively, in FY26. Any disruption in procurement, product availability or customer demand across these key product categories could adversely affect the company’s revenue, profitability and cash flows.
The company is dependent on a limited number of customers, with its top 10 customers contributing Rs 14.95 crore (67.32%), Rs 12.12 crore (57.68%), and Rs 12.38 crore (66.83%) of revenue from sale of products in FY26, FY25, and FY24, respectively. Any loss of a significant customer, reduction in order volumes or the inability to procure new orders regularly could adversely affect the company’s revenue, cash flows and financial condition.
The company does not manufacture any of the products it sells and is substantially dependent on external suppliers for its product requirements. Its top 10 suppliers accounted for Rs 16.87 crore (88.10%), Rs 13.66 crore (80.38%), and Rs 13.33 crore (84.97%) of total purchases in FY26, FY25, and FY24, respectively. Any delay or failure in supply, deterioration in product quality, or financial difficulties among these suppliers could adversely affect the company’s product availability, revenue, profitability and reputation.
The company primarily trades in premium consumer electronics, audio-visual products and smart home solutions that are priced higher than mass-market alternatives, which may limit their customer base to consumers with greater discretionary spending capacity. Any shift in consumer preference towards lower-priced substitutes, such as mass-market audio devices, smart televisions with built-in sound systems or multifunctional smart devices, could reduce demand for the company’s products and adversely affect its sales volumes, margins and financial performance.
The company reported negative cash flow from operating activities of Rs 0.43 crore in FY24 and Rs 0.66 crore in FY26, primarily due to increases in inventories and loans and advances. It also reported negative cash flow from investing activities of Rs 0.17 crore, Rs 5.00 crore and Rs 0.08 crore in FY24, FY25 and FY26, respectively, primarily due to purchases of fixed assets in these periods, with additional money invested in equity shares in FY25. Sustained negative cash flows could adversely affect the company’s liquidity, operations and ability to implement its growth plans.
The company had outstanding financial indebtedness of Rs 6.98 crore as of March 31, 2026. Any failure to service or repay its borrowings on time could adversely affect the company’s business, financial condition, and cash flows.
The company had trade receivables of Rs 9.48 crore as of March 31, 2026. Any delay or failure in collecting these receivables could increase working capital requirements and adversely affect the company’s cash flows and financial condition.
Application details
For Sollfege Smart Electronics IPO, eligible investors can apply as Individual investor.
| Apply as | Price band | Apply range | Lot size |
|---|---|---|---|
| Individual investor | ₹55 - ₹55 | ₹2 - ₹5 Lakhs | 2000 |
About
Objectives of Sollfege Smart Electronics IPO Proceeds
|
Particulars |
Estimated Amount (in ₹ Cr.) |
|
Funding Capital Expenditure for expansion of its retail network by launching 12 (twelve) new showrooms |
8.54 |
|
To meet the working capital requirements |
9.67 |
|
General corporate purposes |
1.80 |
|
Total |
[.] |
Book Running Lead Manager & Registrar of Sollfege Smart Electronics IPO
|
Book Running Lead Manager |
Finshore Management Services Limited |
|
Registrar to the Issue |
KFin Technologies Limited |
|
Market Maker to the Issue |
MNM Stock Broking Private Limited |
Key Performance Indicators (KPIs) of Sollfege Smart Electronics Ltd.
|
KPI |
Value (for the fiscal year ended March 31, 2026) |
|
ROE (%) |
20.82 |
|
ROCE (%) |
23.57 |
|
EBITDA Margin (%) |
18.02 |
|
PAT Margin (%) |
9.86 |
|
Return on Net Worth (RoNW) (%) |
18.86 |
|
Price to Book Value |
2.86 |
|
Net Asset Value (NAV) per Equity Share (₹) |
19.24 |
|
Debt-to-equity Ratio (times) |
0.60 |
|
EPS (Pre IPO) (₹) |
3.63 |
Sollfege Smart Electronics IPO Contact Details
|
Company Name |
Sollfege Smart Electronics Limited |
|
Registered Office |
Chandrakunj, 3 Pretoria Street, 3rd Floor, Unit No. B, Middleton Row, Kolkata - 700071, West Bengal, India |
|
Phone |
(033) 4602 0444 |
|
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|
Website |
Sollfege Smart Electronics IPO Registrar Contact Details
|
Company Name |
KFin Technologies Limited |
|
Phone |
+91 40 6716 2222 |
|
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Website |