Sunlite Recycling IPO GMP grey market premium, review, Subscription, allotment, listing estimate @
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Sunlite Recycling listing Review
On 20 th August 2024, the scrip is listed at Rs. 199.50, at 90% listing cap. The listing is much above the expectations of the grey market.
Sunlite Recycling IPO allotment Link
What was the last grey market premium of Sunlite IPO?
GMP Rs. 60
Subscription status of Sunlite Recycling IPO
Sunlite Recycling Industries IPO (Closing Today)Price Rs. 105 Lot 1200 shares, Rs. 30.24 Crore |
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| QIB | NII x | RII x | Total x | Applications |
| 109.05 | 584.10 | 252.00 | 282.45 | 2,00,844 (252.00x) |
| Amount wise bids recd. Rs. 8541.29 Crore | ||||
| Note: | ||||
What is the business of Sunlite Recycling?
Sunlite Recycling specializes in manufacturing a wide range of copper products, including copper rods, wires, earthing wires, earthing strips, conductors, and wire bars. Its products are produced through the recycling of copper scrap, offering superior electrical and mechanical properties ideal for power generation, transmission, distribution, and electronic industries.
Its operations are based at its registered office and manufacturing facility located at Survey No. 270A and Plot No. 1 of Survey No. 267, Chhatamile, Tal. Vaso, Dantali, Kheda, 387350 Gujarat, India. The facility spans approximately 12,152 square meters. Since its inception in 2012 as a proprietorship, it has expanded from producing only oxygen-free copper rods to offering a diverse array of copper products.
The product portfolio is extensive and includes various grades, thicknesses, widths, and standards, all tailored to meet customer specifications. It places a strong emphasis on environmental and safety considerations throughout its production process. By recycling copper scrap and utilizing energy from solar power and clean natural gas, it significantly reduces pollution compared to traditional oil-based energy sources.
This commitment to sustainability not only supports its environmental goals but also ensures that the products are manufactured in an eco-friendly manner.
Get more information about the company @ www.sunliteindustries.com
Sunlite Recycling IPO Details |
|
| IPO opens on | 12 August 2024 |
| IPO closes on | 14 August 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | 2880000 Shares / Rs 30.24 Crore |
| * Fresh Issue | 2880000 Shares / Rs 30.24 Crore |
| * Offer for Sale – | |
| Market Maker Portion | 148800 Shares |
| Net offer to Public | 2731200 Shares/ Rs.28.68 Crore |
| Face Value per share | Rs. 10 |
| Price Band | Rs.100-105 |
| Employee discount | Rs. 0 per share |
| Retail Lot Size | 1200 Shares |
| Listing will at | NSE SME |
Shares offered in IPO |
||
| Shares | Rs. (Crore) | |
| QIB (50%) | 1364400 | 24.32 |
| NII (50%) | 410400 | 7.30 |
| RII (50%) | 956400 | 17.03 |
| Total Shares | 2731200 | 28.68 |
| Retail portion will be oversubscribed by | 797 | |
| Forms | ||
| How much Shares to Apply in this IPO? | ||
| Min Retail Application | 1200 Shares | Rs.126000 |
| Min HNI Application | 2400 Shares | Rs.252000 |
Who are the Promoters of Sunlite Recycling IPO?
The promoters of the company are Nitin Kumar Heda, Prahladrai Ramdayal Heda & Khushboo Manishkumar Heda
What are the Objects of Sunlite Recycling IPO?
The Offer comprises of only fresh issue of shares.
The objectives of the Offer are to:
1. Funding of capital expenditure towards installation of new Plant & Machinery.
2. Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company.
3. General Corporate Purpose
.
Tentative timetable |
|
| IPO opens on | 12 August 2024 |
| IPO Closes on | 14 August 2024 |
| IPO Allotment on | 16 August 2024 |
| Refund Initiation | 19 August 2024 |
| Credit of Shares | 19 August 2024 |
| Listing on | 20 August 2024 |
| Registered Office of the Company Survey No. 270A & Plot No. 1, Survey No. 267, Chhatha Mile, Dantali, Vaso, Kheda 387350, Gujarat, India. |
| Who is the Lead Manager of this IPO? Hem Securities Limited |
| Who is the Registrar to IPO? CAMEO CORPORATE SERVICES LIMITED |
Sunlite Recycling IPO GMP grey market premium, review, Subscription, allotment, listing estimate
Sunlite Recycling IPO Financial & Analytical Ratios |
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| Year | Total Income |
Net Profit |
EPS | RoNW |
| Rs.in Crore | Rs.in Crore | Rs. | % | |
| 2021-22 | 937 | 4.26 | 10.65 | |
| 2022-23 | 1150 | 5.60 | 14.01 | |
| 2023-24 | 11.13 | |||
| Book Value of the Share on 31.03.2024 |
Rs | |||
| BV of the Share at cap price after ipo |
Rs. | – | ||
| Offer Price/upper band | Rs. | 105 | ||
IPO
|
|
| Price/EPS of 23-24 | 9.43 |
| Price/BV Ratio | – |
| Price/BV after IPO | – |
How Sunlite Recycling IPO compares with the Peers?
| As on date of DRHP | FV | Total | PE |
| Rs. | Income | Ratio of | |
| Rs. In Cr | |||
| Sunlite Recycling | 10 | 1150 | ? |
| Rajnandini Metals | 10 | 1039 | 21.10 |
| Bhagyanagar India | 2 | 1848 | 36.15 |
# This is only coverage of News related to Grey Market Premium & subject to rates. We do not deal in grey market premium. We do not recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
Sunlite Recycling IPO Review
Sunlite Recycling specializes in manufacturing a wide range of copper products, including copper rods, wires, earthing wires, earthing strips, conductors, and wire bars. Its products are produced through the recycling of copper scrap, offering superior electrical and mechanical properties ideal for power generation, transmission, distribution, and electronic industries.
It has successfully built a significant gas aggregation business, handling approximately 35 MMSCM of natural gas.
Size: Net size of the IPO is Rs.28.68 crore, comprising of 2731200 shares. Once you deduct Anchor portion from the IPO, the net size of the IPO is not very large. Huge oversubscription is not ruled out.
Financial Snapshot: The company has issued bonus shares and rights issue, subsequent to the figures shown in its DRHP. Market meltdown poses some risk to this IPO
+ from fundamental angle: ?
+ from grey market angle: ?
Quicklinks
Sunlite Recycling IPO GMP today allotment, review?
Sunlite Recycling IPO GMP grey market premium
Sunlite Recycling IPO FAQs
What is Sunlite Recycling IPO?
This is a SME IPO of 2048500 equity shares of the face value of Rs. 10 aggregating up to Rs.51.21 Crores. The issue is priced at Rs.238-250 per share. The minimum order quantity is 600 Shares.
When will Sunlite Recycling IPO subscription open?
Sunlite Recycling IPO opens on August 12, 2024, and closes on August 14, 2024.
What is the lot size of Sunlite Recycling IPO?
Sunlite Recycling IPO lot size is 600 Shares, and the minimum amount required is Rs.150000
How to apply for Sunlite Recycling IPO?
You can apply in Positron IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don’t offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
When is Sunlite Recycling IPO allotment?
The finalization of Basis of Allotment for Sunlite Recycling IPO will be done on August 16, 2024, and the allotted shares will be credited to your demat account by August 19, 2024.
When is Sunlite Recycling IPO listing date?
Sunlite Recycling IPO listing date is August 20, 2024.
