About Sunrays Engineers IPO
Sunrays Engineers IPO Details
The company filed its Draft Red Herring Prospectus (DRHP) on February 14, 2026. The Sunrays Engineers Limited IPO is a 100% book-built issue, consisting entirely of a fresh issue of up to 32,64,000 equity shares. There is no offer for sale (OFS) component in this issue, meaning all the proceeds will go to the company. The total issue size is aggregating up to ₹[●] crore, with the final amount to be determined upon finalisation of the issue price.
As the issue is currently in the DRHP stage, the price band and IPO open and close dates are yet to be announced. The company has appointed Share India Capital Services Private Limited as the sole Book Running Lead Manager (BRLM). Skyline Financial Services Private Limited will act as the Registrar to the Issue. The equity shares are proposed to be listed on the EMERGE platform of the National Stock Exchange (NSE).
Sunrays Engineers Limited IPO Date & Timeline
The Sunrays Engineers Limited IPO Date has not been announced yet. The company filed its DRHP on February 14, 2026. Following this, it will await the necessary approvals from the stock exchange and complete the registration process with the Registrar of Companies (RoC). The IPO timeline, including the opening and closing dates, is expected to be announced in the coming weeks.
Sunrays Engineers IPO Timeline
| IPO Open Date | - |
| IPO Close Date | - |
| Tentative Allotment | - |
| Initiation of Refunds | - |
| Credit of Shares to Demat | - |
| Tentative Listing Date | - |
| Cut-off time for UPI mandate confirmation | - |
Sunrays Engineers IPO Details
| Detail | Description |
|---|---|
| IPO Date | - |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Issue Price Band | - |
| Lot Size | - |
| Sale Type | Fresh Capital |
| Total Issue Size | 32,64,000 shares (agg. up to ₹[.] Cr) |
| Reserved for Market Maker | - |
| Fresh Issue(Ex Market Maker) | - |
| Offer for Sale | - |
| Net Offered to Public | - |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 90,93,600 shares |
| Share Holding Post Issue | 1,23,57,600 shares |
Sunrays Engineers Limited IPO GMP (Grey Market Premium)
The Sunrays Engineers Limited IPO GMP (Grey Market Premium) is a term that often catches investor interest. GMP is an unofficial indicator of the premium at which shares are being traded in the grey market before listing. It is important to note that the DRHP does not contain any GMP information. At this stage, with the IPO details still being finalised, the GMP is not available. It will become known closer to the actual IPO opening date once the price band is announced and market activity begins.
Company Background
Sunrays Engineers Ltd. was incorporated as a private limited company in July 2005. Over its nearly 20-year journey, it has built expertise in manufacturing customised aluminium high-pressure die-cast (HPDC) components. In 2025, the company was converted into a public limited company and its registered office was shifted from Delhi to Haryana. Its headquarters and manufacturing operations are now based in Manesar, Haryana.
With nearly 2 decades (20 years) of expertise, the company specialises in precision aluminium components for OEMs. Its diverse portfolio spans automotive parts, such as vacuum brakes and engine components, alongside non-automotive engineering products like genset parts and industrial LED heat sinks.
Operations & Product Range
Sunrays Engineers Ltd. is an organisation that functions as a business-to-business (B2B) manufacturer and supplies parts to original equipment manufacturers in both the automobile and non-automobile industries. This company is involved in all stages, starting from assistance in product design and development of tools to manufacturing of aluminium die castings, machining and surface treatment.
Its product portfolio is broadly divided into two segments:
- • Automotive Industry: This includes vacuum brake parts, air suction valves for two-wheelers, oil filters and gear shift components for four-wheelers.
- • Non-Automotive Industry: This includes parts for engines and gensets and lighting heat sinks used in streetlights and outdoor lighting.
Facilities & Capacity
Sunrays Engineers Ltd. has 3 units located in the IMT Manesar area in Haryana. There are various types of machinery available at these units, like die-casting machines of capacities ranging from 120 tonnes to 700 tonnes, CNC/VMC machines and drill machines. It has continually been adding to its capacity over the last two years through heavy spending on capital expenditure. This issue mainly aims to help with the capital expenditure for acquiring more machinery to increase their production capabilities.
Brands & Market Presence
Sunrays Engineers Ltd. currently has a trademark application pending for its logo, which was filed by one of its promoters, Anmol Ratan Arora, on November 22, 2025. Its market presence is entirely within India, with no export sales reported, as mentioned in the DRHP. The company holds several key certifications, including IATF 16949:2016, ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018, which underline its commitment to quality management, environmental standards and occupational health and safety.
Revenue Streams & Business Model
Revenue for Sunrays Engineers Ltd. is generated primarily through the sale of its products. In recent years, the company has shown profit and growing financial statements, with operating revenue being ₹90.34 crore in FY25, while profit after tax (PAT) has been ₹4.74 crore. A large share of its total revenue is contributed by the automobile industry; its contribution has been 75.05% in FY25 and 80.20% in H1 FY26. In international markets, its total operations are centred in the state of Haryana, accounting for 79.15% of its total operating revenue in H1 FY26.
Management & Shareholding
Sunrays Engineers Ltd. is promoted by Anmol Ratan Arora, Lily Arora and Richa Ratan Arora. Before the IPO, the promoters and the promoter group collectively held 99.99% of the company's pre-issue paid-up equity share capital, but after the IPO, the promoters and promoter group will face the dilution of ownership as this issue offers a fresh issue, which invites new shareholders into the management.
Board & Key Management
The board members of Sunrays Engineers Ltd. are led by Anmol Ratan Arora as the managing director & chairperson. Richa Ratan Arora serves as the Executive Director. Lily Arora is a non-executive director. The board is strengthened by two independent directors: Geetanjali S. Kumar and Tan Singh Rana. The key management team is supported by Pradeep Kumar Tripathi, as CFO and Samriti Gaba, the company secretary and compliance officer.
Sunrays Engineers IPO Financial Information
Latest Revenue
61.30
₹ Crore
Profit After Tax
4.55
₹ Crore
Net Worth
18.82
₹ Crore
Total Borrowing
17.63
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Reserves & Surplus | Total Borrowing | |||
|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2025 | 58.31 | 61.30 | 4.55 | 18.82 | 18.31 | 17.63 | |||
| 31 Mar 2025 | 50.22 | 90.53 | 4.74 | 14.42 | 13.85 | 24.11 | |||
| 31 Mar 2024 | 46.97 | 67.30 | 2.14 | 9.69 | 9.11 | 24.27 | |||
| 31 Mar 2023 | 39.13 | 60.23 | 2.32 | 7.55 | 6.97 | 19.89 | |||
| Amount in ₹ Crore | |||||||||
Sunrays Engineers Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 27.36% |
| ROCE | 24.56% |
| Debt/Equity | 0.94 |
| RoNW | 27.36% |
| PAT Margin | 7.42% |
| EBITDA Margin | 13.72% |
| Price to Book Value | - |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.21 | 7.36 |
| P/E (x) | - | - |
Sunrays Engineers IPO Objectives
The company intended to use the Sunrays Engineers IPO proceeds for strategic purposes:
- • Funding the capital expenditure for the purchase and installation of machines and ERP systems
- • Funding the working capital requirement
- • Repayment/prepayment of debt (in part or in full)
- • General corporate purposes
Sunrays Engineers IPO Review
Sunrays Engineers Ltd. is a manufacturing company that has engaged in customised aluminium high-pressure die-cast (HPDC) components for over 20 years for automotive and non-automotive applications. As an established supplier to OEMs, the company has a track record of execution and quality. Its financials for FY25 reflect revenue at ₹14.42 crore and profit after tax at ₹90.34 crore, showing consistent growth.
However, the DRHP showed that the business relied on its consistent and regular customers, which may harm the revenue in the future if any client gets off track. Also, all manufacturing is concentrated in a single location (Manesar), exposing it to regional disruptions. The company has also faced delays in filing certain statutory forms in the past, a compliance point that has been addressed.
Overall, the company presents a typical story of a B2B manufacturer looking to expand capacity and reduce debt. Its success will depend on its ability to manage customer and supplier concentration while effectively executing its expansion plans and maintaining its high-quality standards.
Conclusion
Sunrays Engineers IPO is an opportunity for investors to invest in a growing company that represents a step for a well-established engineering firm into the public market. Its core strengths lie in its deep industry experience, strong customer relationships and integrated manufacturing facilities. This issue aims to fund the capital expenditure for purchase and installation, fund the working capital requirements and reduce the debt, as well as operate day-to-day operations smoothly.
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Competitive Strengths
Long-standing customer relationships
The management team has over 2 decades of experience in the die-casting industry, providing strong operational and strategic direction
Efficient Infrastructure to ensure greater control over the quality and timeframes involved
Certifications such as IATF 16949 and ISO 9001 ensure quality, which is a key factor for OEM suppliers
| Sr.no | Description | Date | File |
|---|---|---|---|
| 1 | Filed with SEBI/Exchange | 14/02/2026 | View DRHP |
| 2 | SEBI/Exchange approval received | - | - |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | — | — | |
| Individual investors (Retail) (Max) | — | — | |
| S-HNI (Min) | — | — | |
| S-HNI (Max) | — | — | |
| B-HNI (Min) | — | — |