Sotefin Bharat Ltd IPO
Miscellaneous
Price Band
₹178 – ₹187
Lot Size
600
Minimum Bid Quantity
1200
Minimum Investment
₹224400
Issue Size
₹89.76Cr
Opens
2026-07-16
Closes
2026-07-20
Listing
23-07-2026
Subscription Status
Qualified Institutional Buyers
2.82 x
Non-Institutional Investor
4.73 x
Retail Individual Investor
3.72 x
Total
3.76 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE12Z301012
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Sotefin Bharat is engaged in the business of providing mechanised and automated parking solutions through turnkey project execution. The company offers a range of automated parking systems, including robotic parking systems, puzzle parking systems, tower parking systems, and stack parking systems. It also provides end-to-end services such as system design, manufacturing, installation, operations and maintenance (O&M), and after-sales support. As of March 31, 2026, the company claims to have completed more than 55 projects and was executing over 30 projects across India, the United States, and Dubai. Sotefin Bharat manufactures key structural components at its facility in Bagnan, Howrah, while sourcing certain electro-mechanical components from European suppliers. The company operates in India with technology support from Sotefin SA, Switzerland, and serves both private sector customers and government organisations. Its projects have been executed across cities including Delhi, Mumbai, Kolkata, Pune, Varanasi, and Thiruvananthapuram. Use of proceeds: This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes: Funding capital expenditure requirements for setting up a manufacturing facility in Kolkata, West Bengal — Rs 20.13 crore Funding capital expenditure requirements for the proposed new office premises — Rs 8.17 crore Funding working capital requirements — Rs 40 crore General corporate purposes
Pros
- • The company claims to benefit from technology support from Sotefin SA, Switzerland, which has been involved in automated parking systems since 1956. According to the company, it combines Swiss engineering with localised manufacturing and engineering to develop parking systems suited to Indian infrastructure and regulatory requirements.
- • The company is ISO 9001:2015 certified (UKAS-accredited) for the design and manufacture of mechanised car parking systems. It also holds CE certification (TÜV) and states that its automatic parking system has been certified by TÜV Cyprus Ltd (TÜV NORD) for compliance with the EU Machinery Directive 2006/42/EC and EN 14010:2003+A1:2009 safety standards, with the certification valid until January 2030.
- • The company claims to follow an integrated execution model covering system design, structural engineering, in-house manufacturing, installation, commissioning, and maintenance. It manufactures key structural components at its 40,000 sq. ft. facility in Bagnan, West Bengal, which it says gives it better control over quality, project timelines, and system integration.
Cons
- • The company is dependent on Sotefin SA, Switzerland, for its patented robotic parking technology and critical imported components used in its automated parking systems. Imports from Sotefin SA accounted for Rs 23.34 crore (50.40%), Rs 6.88 crore (22.21%), and Rs 6.20 crore (24.43%) of its total purchases in FY26, FY25, and FY24, respectively. Any disruption in this supply arrangement, delays in localising production in India, or changes in the licensing of Sotefin SA’s technology could adversely affect the company’s project execution, operations, and financial performance.
- • The company’s revenue is highly concentrated among a limited number of customers. Its top 10 customers contributed Rs 107.14 crore (91.77%), Rs 79.57 crore (84.85%), and Rs 49.14 crore (87.30%) of revenue in FY26, FY25, and FY24, respectively, while the top customer alone contributed Rs 56.33 crore (48.25%) of revenue in FY26. Reduction in orders, contract cancellations, delays in government projects, or loss of business from these key customers could materially affect the company’s revenue, profitability, and financial condition.
- • A significant portion of the company’s revenue is generated from government agencies and public sector projects. Revenue from government bodies contributed Rs 65.99 crore (56.52%), Rs 52.52 crore (56.01%), and Rs 28.87 crore (51.30%) in FY26, FY25, and FY24, respectively. In the case of any adverse changes in government policies, budget allocations, tender conditions, project approvals, or delays in receiving payments from government authorities, the company’s business, cash flows, and financial condition could be affected.
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