Sunlite Recycling Industries IPO will open for subscription from 12 August 2024. The company aims for an issue size of ₹30.24 Cr through this IPO.
Company Overview
| Full name | Sunlite Recycling Industries Limited |
| Sector | Non – Ferrous Metals |
| Industry | Metal – Non Ferrous |
| Company Website | https://www.sunliteindustries.com/ |
About Company
Sunlite Recycling Industries manufactures copper rods, wires, earthing wires, earthing strips, conductors, and wire bars by recycling copper scrap. These products have electrical and mechanical properties suitable for power generation, transmission, distribution, and electronic industries. Their manufacturing unit in Gujarat spans approximately 12,152 sq. m.
Sunlite Recycling Industries uses solar-generated electricity and clean natural gas to recycle copper scrap, reducing pollution compared to oil-based energy sources. The company currently sells its products in over 10 states and union territories, with a significant portion of revenue coming from Gujarat, Dadra & Nagar Haveli, and Maharashtra. Plans include expanding market presence in key areas like Maharashtra, Telangana, Madhya Pradesh, and Tamil Nadu.
The Objectives of the Issue
- Funding of capital expenditure towards the installation of new Plant & Machinery.
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company.
- General Corporate Purpose.
Sunlite Recycling Industries IPO Timetable
| IPO Opening date | 12 August 2024 |
| IPO Closing | 14 August 2024 |
| Basis of Allotment | 16 August 2024 |
| Initiation Refund | 19 August 2024 |
| Credit to Demat Account | 19 August 2024 |
| Listing Date | 20 August 2024 |
Sunlite Recycling Industries IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹30.24 Cr – 2,880,000 shares |
| Fresh Issue | ₹30.24 Cr – 2,880,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹100 to ₹105 per share |
| Lot size | 1200 Shares |
| Market Maker portion | 148,800 shares |
| Shareholding pre-issue | 8,000,000 |
| Shareholding post-issue | 10,880,000 |
| Listing Exchange | NSE SME |
Sunlite Recycling Industries IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹126,000 |
| Retail (Max) | 1 | 1200 | ₹126,000 |
| HNI (Min) | 2 | 2,400 | ₹252,000 |
Sunlite Recycling Industries Offer Documents
Sunlite Recycling Industries IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 818,400 (28.42%) |
| Market Maker Shares Offered | 148,800 (5.17%) |
| QIB Shares Offered | 546,000 (18.96%) |
| NII (HNI) Shares Offered | 410,400 (14.25%) |
| Retail Shares Offered | 956,400 (33.21%) |
| Total Shares Offered | 2,880,000 (100%) |
Sunlite Recycling Industries Financial Performance
| FY 2022 | FY 2023 | FY 2024 | |
| Revenue | 937.19 | 1,150.19 | 1,166.27 |
| Expenses | 932.27 | 1,142.84 | 1,154.75 |
| Net income | 4.26 | 5.60 | 8.90 |
Sunlite Recycling Industries Valuations & Margins
| FY 2022 | FY 2023 | FY 2024 | |
| EPS | 5.33 | 7.00 | 11.13 |
| PE ratio | – | – | 8.99 – 9.43 |
| RONW (%) | 36.77 | 154.74 | 44.43 |
| NAV | 14.48 | 4.53 | 25.05 |
| ROCE (%) | 22.85 | 24.05 | 29.49 |
| EBITDA (%) | 1.06 | 1.24 | 1.57 |
| Debt/Equity | 2.19 | 12.83 | 1.74 |
Company Promoters
- Nitin Kumar Heda
- Prahladrai Ramdayal Heda
- Khushboo Manishkumar Heda
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 73.53% |
Sunlite Recycling Industries Offer GMP Update
| Date | Consolidated IPO GMP | Kostak | Subject to Sauda |
| 13 August 2024 | 27 | – | 25,000 |
| 12 August 2024 | 18 | – | 18,000 |
| 10 August 2024 | 20 | – | 18,500 |
| 9 August 2024 | 15 | – | 14,000 |
Sunlite Recycling Industries IPO Subscription Update
Sunlite Recycling Industries IPO Allotment Status
Sunlite Recycling IPO allotment status will be available on Cameo Corporate Services’ website. Click on this link to get allotment status.
Sunlite Recycling Industries IPO Listing Details
| Listing Date | Coming soon |
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Sunlite Recycling Industries IPO Listing Day Update
| Listing Exchange | Coming soon |
| Final Issue Price | |
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Sunlite Recycling Industries IPO Lead Manager(s)
HEM SECURITIES LIMITED
904, A Wing, Naman Midtown, Senapati Bapat Marg,
Elphinstone Road, Lower Parel, Mumbai-400013, India
Phone: +91- 022- 49060000
Email: ib@hemsecurities.com
Website: www.hemsecurities.com
Sunlite Recycling Industries Registrar
CAMEO CORPORATE SERVICES LIMITED
Subramanian Building, 1 Club House Road,
Chennai-600 002, Tamil Nadu, India
Phone: +91-44-40020700
Email: ipo@cameoindia.com
Website: www.cameoindia.com
Sunlite Recycling Industries Contact Details
SUNLITE RECYCLING INDUSTRIES LIMITED
Survey No. 270A & Plot No. 1, Survey No. 267, Chhatha Mile,
Dantali, Vaso, Kheda -387350, Gujarat, India.
Phone: +91 9265111757
E-mail: cs@sunliteindustries.com
Website: www.sunliteindustries.com
Sunlite Recycling Industries IPO FAQs
What is the Sunlite Recycling offer size?
Sunlite Recycling offer size is ₹ 28.80 – 30.24 crores.
What is the Sunlite Recycling offer price band?
Sunlite Recycling public offer price is ₹ 100 – 105 per share.
What is the lot size of the Sunlite Recycling IPO?
Sunlite Recycling offer a lot size is 1,200 shares.
What is Sunlite Recycling IPO GMP today?
Sunlite Recycling IPO GMP today is ₹ 27 per share.
What is the Sunlite Recycling kostak rate today?
Sunlite Recycling kostak rate today is ₹ NA per application.
What is Sunlite Recycling Subject to the Sauda rate today?
Sunlite Recycling is Subject to the Sauda rate today is INR 25,000 per application.
Final thoughts
Sunlite Recycling Industries IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. Study the company well and subscribe if you feel good about it. I hope this post will give you enough details to research the company fundamentally. learn well and make wise decisions.
Happy Investing
