The Sunlite Recycling Industries IPO is a book-built issue worth Rs 30.24 crores, consisting entirely of a fresh issue of 28.8 lakh shares.
The subscription period for the Sunlite Recycling Industries IPO opens on August 12, 2024, and closes on August 14, 2024. The allotment is expected to be finalized on Friday, August 16, 2024. The IPO is set to list on the NSE SME, with the tentative listing date on Tuesday, August 20, 2024.
The price band for the Sunlite Recycling Industries IPO is between ₹100 and ₹105 per share. The minimum application lot size is 1,200 shares. Retail investors need to invest a minimum of ₹126,000, while high-net-worth individuals (HNIs) must invest in at least 2 lots (2,400 shares), totaling ₹252,000.
- Book Running Lead Manager – Hem Securities Limited
- Registrar of the Issue – Cameo Corporate Services Limited
Below are the details of Sunlite Recycling Industries Limited IPO Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
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Sunlite Recycling Industries IPO Details
| IPO Date | August 12, 2024 to August 14, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹100 to ₹105 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 2,880,000 shares (aggregating up to ₹30.24 Cr) |
| Fresh Issue | 2,880,000 shares (aggregating up to ₹30.24 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 8,000,000 |
| Share holding post issue | 10,880,000 |
| Market Maker portion | 148,800 shares |
Sunlite Recycling IPO Timeline
| IPO Open Date | Monday, August 12, 2024 |
| IPO Close Date | Wednesday, August 14, 2024 |
| Basis of Allotment | Friday, August 16, 2024 |
| Initiation of Refunds | Monday, August 19, 2024 |
| Credit of Shares to Demat | Monday, August 19, 2024 |
| Listing Date | Tuesday, August 20, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 14, 2024 |
Sunlite Recycling Industries Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹126,000 |
| Retail (Max) | 1 | 1200 | ₹126,000 |
| HNI (Min) | 2 | 2,400 | ₹252,000 |
Sunlite Recycling IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Sunlite Recycling Industries Limited IPO Promoters
Nitin Kumar Heda, Prahladrai Ramdayal Heda & Khushboo Manishkumar Heda are the company’s promoters.
Sunlite Recycling Industries IPO Financial Information
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 9,335.16 | 7,162.56 | 4,802.05 | 3,743.20 |
| Revenue | 85,185.72 | 115,039.91 | 93,791.80 | 39,400.84 |
| Profit After Tax | 599.93 | 560.27 | 426.03 | 252.55 |
| Net Worth | 1,142.29 | 362.08 | 1,158.58 | 622.18 |
| Reserves and Surplus | 1,092.29 | 312.08 | ||
| Total Borrowing | 5,996.19 | 4,646.82 | 2,532.38 | 1,711.39 |
| Amount in ₹ Lakhs | ||||
Sunlite Recycling Industries Limited IPO Review
Founded in 2012, Sunlite Recycling Industries Limited specializes in manufacturing copper rods and wires, copper earthing wires, copper earthing strips, copper conductors, and copper wire rods by recycling copper scrap. Their products serve the power generation, transmission, distribution, and electronics industries.
Sunlite Recycling Industries offers a diverse product range, with various grades, thicknesses, widths, and standards to meet customer specifications.
The company’s registered office and manufacturing facility are located in Kheda, Gujarat, covering approximately 12,152 square meters and housing over 20 machines for producing a wide array of copper products.
As of March 31, 2024, the company reported total revenue from operations of Rs. 85,168.31 lakhs and employed 38 people.