New Delhi, March 4 -- Sona Machinery Limited has received the green light from the National Stock Exchange (NSE) to proceed with its initial public offering (IPO).

The IPO, slated to open on March 5 and close on March 7, is expected to be a significant milestone for the company as it seeks to raise capital for expansion and development initiatives.

The IPO will consist of a fresh issue of up to 3,624,000 equity shares, each with a face value of Rs 10 per share.

These equity shares will be listed on NSE Emerge, the Small and Medium Enterprises (SME) platform of the NSE, with a price band ranging between Rs 136 and Rs 143 per share.

Investors can bid for a minimum of 1,000 shares or multiples thereof, ensuring broad participation in the...