Sungarner Energies IPO will open for subscription from 21 August 2023. the company aims for an issue size of ₹5.31 Cr through this IPO.
Company Overview
| Full name | Sungarner Energies Limited |
| Sector | Power |
| Industry | Power generation/Distribution |
| Company Website | https://www.sungarner.com/ |
About Company
At the start of its journey, the company was a design engineering and solar EPC company and gradually diversified into manufacturing power electronics and energy storage products. Today, SunGarner Energies is also into manufacturing Solar Inverters, Online UPS Systems, EV Chargers, and Lead Acid Batteries. SunGarner has also obtained a WMI code for the manufacturing of EV Vehicles (although it has only developed prototypes and has not started full-scale manufacturing of EV Vehicles).
SunGarner Energies produces lead acid batteries of varying capacities in the range from 12 Volts 40 ampere-hours to 12 volts 300 ampere-hours. Today, SunGarner Products are available through its distributors in key markets like Haryana, UP, Bihar, Rajasthan, and Assam. SunGarner has 6 service centers in India – Delhi, UP Haryana, Bihar Assam, and Bengal.
The Objective of the Issue
- To meet the working capital requirements of the company,
- General corporate purposes,
- To meet issue expenses.
IPO Timetable
| IPO Opening date | 21 August 2023 |
| IPO Closing | 23 August 2023 |
| Basis of Allotment | 28 August 2023 |
| Initiation Refund | 29 August 2023 |
| Credit to Demat Account | 30 August 2023 |
| Listing Date | 31 August 2023 |
IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹5.31 Cr – 640,000 shares |
| Fresh Issue | ₹5.31 Cr – 640,000 shares |
| Offer for sale | Nil |
| Face value | ₹ per share |
| Offer Price | ₹83 per share |
| Lot size | 1600 Shares |
| Market Maker portion | 57,600 shares |
| Listing Exchange | NSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹132,800 |
| Retail (Max) | 1 | 1600 | ₹132,800 |
| HNI (Min) | 2 | 3,200 | ₹265,600 |
Reservation Details
| Market Maker Shares Offered | 57,600 (9.00%) |
| Other Shares Offered | 291,200 (45.50%) |
| Retail Shares Offered | 291,200 (45.50%) |
| Total Shares Offered | 640,000 (100%) |
Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 536.43 | 793.79 | 1,731.80 |
| Expenses | 498.95 | 699.24 | 1,606.32 |
| Net income | 15.72 | 57.50 | 74.31 |
Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 3.38 | 12.36 | 6.35 |
| PE ratio | – | – | 13.07 |
| RONW (%) | 16.11 | 36.80 | 23.18 |
| NAV | 21.23 | 33.60 | 19.09 |
| ROCE (%) | 14.35 | 32.84 | 25.28 |
| EBITDA (%) | 6.99 | 12.40 | 9.18 |
| Debt/Equity | 0.26 | 1.45 | 1.32 |
Company Promoters
- Mr. Sumit Tiwari
- Mrs. Snigdha Tiwari
Promoter Holding
| Pre Issue Share Holding | 84.94% |
| Post Issue Share Holding | 61.49% |
Lead Manager(s)
FAST TRACK FINSEC PRIVATE LIMITED
B-502, Statesman House,
148, Barakhambha Road, New Delhi – 110 001
Phone: +91 11 43029809
Email: investor@ftfinsec.com
Website: www.ftfinsec.com
IPO Registrar
SKYLINE FINANCIAL SERVICES PRIVATE LIMITED
A/506, Dattani Plaza, Andheri Kurla Road,
Safeed Pool, Andheri East, Mumbai – 400 072, Maharashtra
Phone: +91 22 2851 1022
Email: ipo@skylinerta.com
Website: www.skylinerta.com
Contact Details
SUNGARNER ENERGIES LIMITED
Plot No. 113, Udyog Kendra-II,
Greater Noida, Gautam Budh Nagar, Uttar Pradesh- 201306
Phone: +91 7428296411
E-mail: legal@sungarner.com
Website: www.sungarner.com
Allotment Status
SunGarner Energies IPO allotment status will be available on Skyline Financial Services’ website. Click on this link to get allotment status.
Final thoughts
Sungarner Energies IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
