Sunlite Recycling Industries Limited IPO And Its GMP IPO Details
| Detail | Description |
|---|---|
| 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 | 1,200 Shares |
| Total Issue Size | 28,80,000 shares (aggregating up to ₹ 30.24 Cr) |
| Fresh Issue | 28,80,000 shares (aggregating up to ₹ 30.24 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 80,00,000 |
| Shareholding post issue | 1,08,80,000 |
| Market Maker portion | 1,48,800 shares Hem Finlease |
About Sunlite Recycling Industries Limited IPO And Its GMP
Sunlite Recycling Industries Limited is engaged in the business of manufacturing copper rods & wires, copper earthing wires, copper earthing strips, copper conductors, copper wire bars etc. through the recycling of copper scrap, which has electrical and mechanical properties suitable for applications in power generation, transmission, distribution and electronic industries.
Further, they are also engaged in providing job work services for the processing of various copper products. They employ an internal quality control mechanism to ensure that their finished product conforms to the exact requirements of the customers.
Number of Shares Offered: 28.8 lakh shares (fresh issue)
Price Band: ₹100 to ₹105 per share
Minimum Lot Size: 1200 shares
IPO Open Date: August 12, 2024
IPO Close Date: August 14, 2024
Book Running Lead Manager: Hem Securities Limited
Registrar: Cameo Corporate Services Limited
Market Maker: Hem Finlease
Sunlite Recycling Industries 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 |
Company & Financials
Sunlite Recycling Industries Limited was established in 2012 and manufactures copper rods and wires, copper earthing wires, copper earthing strips, copper conductors, copper wire rods etc. by recycling copper scrap for power generation, transmission, distribution and electronics industries. The company's product portfolio offers a diversified product range that includes a variety of grades, thicknesses, widths and standards in all types of copper products according to customer specifications. Sunlite Recycling Industries currently has a registered office and manufacturing facility in Kheda, Gujarat, with a total area of approximately 12,152 square meters and over 20 machines for manufacturing a wide range of copper products. Their Product Portfolio offers a diversified product range that includes a variety of grades, thicknesses, widths and standards, in all types of copper products according to customer specifications. They prioritize environmental and safety considerations in our copper production process.
Objectives of Sunlite Recycling Industries IPO
The company intends to utilize the proceeds of the Issue to meet the following objectives:
- 1. Funding of capital expenditure towards the installation of new Plant & Machinery.
- 2. Repayment and prepayment, in full or part, of certain borrowings availed by the company.
- 3. General Corporate Purpose.
Sunlite Recycling Industries IPO Review
The company is operating in a highly competitive and fragmented segment. It marked growth in its top and bottom lines for the reported periods. Based on FY24 earnings, the issue appears relatively fully priced. Considering its scale of operations, investors may park funds for the long term.
Sunlite Recycling Industries Limited IPO And Its GMP Financial Information
Latest Revenue
₹ 1,16,655.09 Cr
Profit After Tax
₹ 890.36 Cr
Net Worth
₹ 2,003.90 Cr
Total Borrowing
₹ 3,491.74 Cr
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31 Mar 2024 | 6,321.24 | 1,16,655.09 | 890.36 | 2,003.90 | 3,491.74 |
| 31 Mar 2023 | 6,321.24 | 1,15,039.91 | 560.27 | 362.08 | 4,646.82 |
| 31 Mar 2022 | 4,802.05 | 93,791.80 | 426.03 | 1,158.58 | 2,532.38 |
| 31 Mar 2021 | 3,743.20 | 39,400.84 | 252.55 | 622.18 | 1,711.39 |
| Amount in ₹ Crore | |||||
IPO Estimated Listing Return
Based on the IPO Price of ₹105 (highest price band), the latest uploaded Grey Market Premium (GMP) of ₹62 and a lot size of 1200 shares.
Sunlite Recycling Industries Limited IPO And Its GMP IPO GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 2024-08-17 | ₹105.00 | ₹62.0 (59%) | 2024-08-17 |
Sunlite Recycling Industries Limited IPO And Its GMP Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 75.26% |
| ROCE | 29.49% |
| Debt/Equity | 1.74 |
| RoNW | 44.43% |
| P/BV | 2.41 |
| PAT Margin (%) | 0.76 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 11.13 | 8.18 |
| P/E (x) | 9.43 | 12.83 |
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Competitive Strengths
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Sunlite Recycling Industries Limited IPO And Its GMP 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 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,200 | ₹ 1,26,000 |
| Retail (Max) | 1 | 1,200 | ₹ 1,26,000 |
| HNI (Min) | 2 | 2,400 | ₹ 2,52,000 |