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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
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Sunlite Recycling Industries Limited IPO And Its GMP GMP
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 2024-08-17 | 105.00 | 62.0 (59%) | 2024-08-17 |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Sunlite Recycling Industries Limited IPO And Its GMP 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 | 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 |
| Shareholding pre issue | 8,000,000 |
| Shareholding post issue | 10,880,000 |
| Market Maker portion | 148,800 shares Hem Finlease |
Sunlite Recycling Industries Limited IPO And Its GMP Timeline
| Detail | Description |
|---|---|
| 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 And Its GMP Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹126,000 |
| Retail (Max) | 1 | 1200 | ₹126,000 |
| HNI (Min) | 2 | 2400 | ₹252,000 |
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 |
Sunlite Recycling Industries Limited IPO And Its GMP Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 100.00% | 73.53% |
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.
Competitive Strength:
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Sunlite Recycling Industries Limited IPO And Its GMP Financial Information
| Period Ended | Assets | Total Income | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing | ||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2024 | 6,321.24 | 116,655.09 | 890.36 | 2,003.90 | - | 3,491.74 | ||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 6,321.24 | 115,039.91 | 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 | ||||||||||||||||||||||||||||||||||||||||
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 |
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.
RHP:
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Frequently Asked Questions (FAQs)
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What is Sunlite Recycling Industries IPO?
Sunlite Recycling Industries IPO is an NSE SME IPO. They are going to raise ₹30.24 Crores via IPO. The issue is priced at ₹100 to ₹105 per equity share. The IPO is to be listed on NSE.
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When will Sunlite Recycling Industries IPO open?
The IPO is to open on August 12, 2024 for QIB, NII, and Retail Investors.
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What is Sunlite Recycling Industries IPO Investors Portion?
The investors’ portion for QIB is 50%, NII is 15%, and Retail is 35%.
-
What is Sunlite Recycling Industries IPO Size?
Sunlite Recycling Industries IPO size is ₹30.24 crores.
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What is Sunlite Recycling Industries IPO Price Band?
Sunlite Recycling Industries IPO Price Band is ₹100 to ₹105 per equity share.
