Sunlite Recycling Industries is scheduled to hit the market on August 12, 2024 and close on August 14, 2024. Sunlite Recycling Industries plans to raise around ₹30.24 Cr through an IPO with a sale of up to 2,880,000 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%.
Sunlite Recycling Industries Limited, established in 2012, specializes in manufacturing a variety of copper products, including copper rods and wires, earthing wires, strips, conductors, and wire rods. The company focuses on recycling copper scrap to serve industries involved in power generation, transmission, distribution, and electronics. Its product portfolio is diverse, offering different grades, thicknesses, widths, and standards tailored to meet customer specifications.
Located in Kheda, Gujarat, Sunlite operates from a registered office and a manufacturing facility spanning approximately 12,152 square meters. With over 20 machines in operation, the company is well-equipped to produce a wide range of copper products. As of March 31, 2024, Sunlite Recycling Industries recorded total revenue from operations of Rs. 85,168.31 lacs and employed 38 people.
Sunlite Recycling Industries IPO Details
Sunlite Recycling Industries IPO opens on August 12, 2024, and closes on August 14, 2024. The Listing date for Sunlite Recycling Industries IPO is on August 20, 2024. The price band for IPO is ₹100 to ₹105 per share and lot size of 1200 Shares.
| IPO Date | August 12, 2024 to August 14, 2024 |
| Listing Date | August 20, 2024 |
| Price | ₹100 to ₹105 per share |
| Lot Size | 1200 Shares |
| Issue Size | ₹30.24 Cr |
| Face Value | ₹10 per share |
Sunlite Recycling Industries IPO Tentative Timetable
Sunlite Recycling Industries opening date is August 12, 2024 and close date is August 14, 2024. The IPO allotment date is August 16, 2024. Therefund initiation of IPO is on August 19, 2024. The credit of shares in demat account is on August 19, 2024. The listing date is on August 20, 2024.
| Event | Date |
|---|---|
| IPO Opening | August 12, 2024 |
| IPO Closing | August 14, 2024 |
| IPO Allotment Date | August 16, 2024 |
| Refund Initiation | August 19, 2024 |
| Shares Credit to Demat | August 19, 2024 |
| Lisiting Date | August 20, 2024 |
Sunlite Recycling Industries IPO Lot Size
Lot Size of this IPO is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹126,000).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 1200 | ₹126,000 |
| Retail(Maximum) | 1 | 1200 | ₹126,000 |
| S-HNI (Minimum) | 2 | 2400 | ₹252,000 |
Sunlite Recycling Industries IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 73.53% |
Sunlite Recycling Industries IPO Review
Sunlite Recycling Industries Ltd. (SRIL) is making its debut in the stock market with an IPO, offering 2,880,000 equity shares priced between Rs. 100 and Rs. 105 each. The company is involved in recycling copper scrap to manufacture a range of copper products like rods, wires, and conductors, which are crucial for the power and electronics industries. With an emphasis on sustainability, SRIL utilizes solar energy and natural gas to reduce environmental impact. The firm’s business model and diversified product portfolio position it well within the competitive copper recycling sector. The IPO aims to raise Rs. 30.24 crore, with plans to use the funds for debt repayment, new machinery, and general corporate purposes.
Financially, SRIL has demonstrated solid growth, with its total income increasing from Rs. 937.92 crore in FY22 to Rs. 1166.55 crore in FY24, and net profit rising correspondingly. However, the IPO appears fully priced based on its FY24 earnings, with a price-to-earnings ratio of 12.84. The company's price-to-book value ratios stand at 2.41 pre-IPO and 2.27 post-IPO, reflecting a stable valuation against its net asset value. Investors should note that while the firm has shown impressive financial performance and growth, the issue price indicates that the stock may be priced to perfection, particularly given the competitive nature of the sector.
In conclusion, while SRIL’s IPO is promising in terms of its growth trajectory and sustainable practices, it appears fully valued based on current financial metrics. Potential investors should consider a long-term investment strategy, weighing the company's strong fundamentals against the competitive market dynamics. The IPO offers a chance to invest in a company with a growing business model, but caution is advised due to its premium pricing.
Sunlite Recycling Industries IPO Subscription Status (Bidding Details)
Table not foundSunlite Recycling Industries IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Sunlite Recycling Industries IPO FAQs
What is Sunlite Recycling Industries IPO?
Sunlite Recycling Industries is issuing 2,880,000 equity shares with a face value of ₹10 each, totaling up to ₹30.24 Cr. The shares are being offered at a price of ₹100 to ₹105 each, with a minimum order quantity of 1200 shares.
Cameo Corporate Services Limited is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Sunlite Recycling Industries IPO will open?
Sunlite Recycling Industries will open on August 12, 2024 for QIB, NII, and Retail Investors.
When Sunlite Recycling Industries IPO will end?
Sunlite Recycling Industries will end on August 14, 2024.
What is Sunlite Recycling Industries IPO Size?
Sunlite Recycling Industries IPO size is ₹30.24 Cr.
What is Sunlite Recycling Industries IPO Price Band?
Sunlite Recycling Industries price band is ₹100 to ₹105 per share.
What is the Sunlite Recycling Industries IPO Allotment Date?
Sunlite Recycling Industries allotment date is August 16, 2024.
What is the Sunlite Recycling Industries IPO Listing Date?
Sunlite Recycling Industries listing date is August 20, 2024. The IPO is to be listed on BSE and NSE.
How to Sunlite Recycling Industries IPO through Zerodha?
To apply for the IPO “Sunlite Recycling Industries” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Sunlite Recycling Industries IPO through Upstox?
To apply for the IPO “Sunlite Recycling Industries” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Sunlite Recycling Industries IPO Allotment Status?
For Sunlite Recycling Industries IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Sunlite Recycling Industries IPO GMP?
You can check out here: Sunlite Recycling Industries IPO GMP