Sunlite Recycling Industries IPO Subscription Status

Sunlite Recycling Industries IPO- Day 3 Subscription at 281.20 Times

Sunlite Recycling Industries' IPO will be closed on 14 August 2024. Shares of the company will likely be listed on the NSE SME platform on 20 August 2024.

On 14 August 2024, Sunlite Recycling Industries IPO witnessed overwhelming demand from investors, who bid for an impressive total of 53,78,78,400 shares against the 19,12,800 shares available. 

Here are the subscription details for Sunlite Recycling Industries IPO as of Day 3 (14th August 2024 at 4:39:58 PM.)

It's worth noting that QIBs and HNIs/NIIs typically increase their subscriptions in the final hours of the last day, often driving up the overall demand. The total subscription for Sunlite Recycling Industries IPO reached 281.20 times, underscoring the strong market sentiment and the company’s promising prospects.

It is important to mention that these overall subscription figures do not include the anchor portion or the market-making segment of the IPO, providing a clear view of the investor demand in the general categories.

Subscription Status of Sunlite Recycling Industries IPO for Days 1,2 and 3

On day 1, Sunlite Recycling Industries IPO 8.38 times. By day 2, the subscription status had risen to 27.74 times; by day 3, it had reached 281.20 times.

Here are the complete subscription details for the Sunlite Recycling Industries IPO by category as of Day 3 (14th August 2024 at 4:39:58 PM):

The Sunlite Recycling Industries IPO subscription was primarily driven by High Net Worth Individuals (HNIs) and Non-Institutional Investors (NIIs), who led the charge with an extraordinary 583.98 times subscription, showcasing their strong confidence in the company's potential.

Retail investors followed suit, contributing significantly with a subscription of 249.55 times, reflecting the broad-based appeal of the IPO among individual investors. Qualified Institutional Buyers (QIBs), which include large institutional players such as mutual funds and insurance companies, also displayed substantial interest, subscribing 109.05 times.

Sunlite Recycling Industries IPO Day 2 Subscription at 27.33 Times: Should You Subscribe or Not?

At the end of day 2, Sunlite Recycling Industries IPO subscribed 27.33 times. In the investors category, the public issue subscribed 40.94 times in the retail segment, HNI/NII category 23.84 times, and QIBs 6.12 times as of 13 August 2024. 

Here are the subscription details of Sunlite Recycling IPO as of day 2 (13th August 2024 at 5:05:58 PM):

The surge in subscriptions, particularly from retail investors, highlights the confidence in the company’s future prospects. The trend observed is consistent with other IPOs, where QIBs and HNIs/NIIs often increase their subscriptions closer to the closing hours. It’s worth noting that the overall subscription figures do not include the anchor portion or the market-making segment of the IPO.

QIBs, who are typically large institutional investors such as mutual funds and insurance companies, showed a solid but measured interest, while the HNIs/NIIs, comprising wealthy individuals and smaller institutions, exhibited robust participation. This level of engagement reflects the broad-based appeal of Sunlite Recycling Industries among various investor categories, setting a strong foundation for the IPO as it progresses.

Here are the subscription details for Sunlite Recycling Industries IPO by category as of Day 2: (13th August 2024 at 5:05:58 PM)

On day 1, Sunlite Recycling Industries IPO was subscribed 8.38 times.  By the end of day 2, the subscription status has risen to times. However, the final status will be clear after the end of day 3. the Sunlite Recycling Industries IPO subscription period, the subscription levels have shown a robust response across all investor categories. The overall subscription stands at 27.33 times, driven primarily by Retail Investors, who have subscribed 40.94 times the shares allocated to them. High Net-Worth Individuals (HNIs) and Non-Institutional Investors (NIIs) have also demonstrated strong interest, with their subscription level reaching 23.84 times. Qualified Institutional Buyers (QIBs) have subscribed 6.12 times, indicating growing interest from larger institutions.

Sunlite Recycling Industries IPO Day 1 Subscription at 7.47 Times: Should You Subscribe or Not?

The IPO for Sunlite Recycling Industries is scheduled to begin subscriptions on August 12, 2024, and end on August 14, 2024. The Sunlite Recycling Industries IPO allocation is anticipated to be completed on Friday, August 16, 2024. The proposed listing date for Sunlite Recycling Industries' initial public offering (IPO) on NSE SME is Tuesday, August 20, 2024.

The IPO of Sunlite Recycling Industries received 7.39 subscriptions. By August 12, 2024, the public issue had received subscriptions 10.25 times in the retail category, 2.62 times in the QIB category, and 7.10 times in the NII category.

Here are the subscription details for Aesthetik Engineers IPO as of Day 2 (9th August 2024):

Due to the company's high market attractiveness, Sunlite Recycling Industries' initial public offering (IPO) has attracted significant interest from various investor groups. Anchor investors wholly subscribed to their allotted portion, showing these institutional players' strong trust. Qualified Institutional Buyers (QIBs) were incredibly enthusiastic, exceeding their allotted amount by 2.62. 

High Net Worth Individuals (HNIs) and Non-Institutional Investors (NIIs) showed even more interest, with their section being oversubscribed by a factor of 7.18. With an astounding 10.37 times oversubscription, retail investors, on the other hand, led the rush and demonstrated enormous interest among smaller individual investors. Strong market trust in Sunlite Recycling Industries' development potential and investment appeal is indicated by this robust subscription across all categories.
 

Here are the subscription details for Sunlite Recycling Industries IPO by category as of Day 1

On the first day of Sunlite Recycling Industries IPO, the offering witnessed substantial interest from all investor categories. Qualified Institutional Buyers (QIBs) subscribed 2.62 times, Non-Institutional Investors (NII) 7.18 times, and Retail Investors 10.37 times. Overall, the IPO was oversubscribed 7.47 times on Day 1, indicating strong demand and positive market sentiment towards the company's prospects.
 

About Sunlite Recycling Industries

Since its founding in 2012, Sunlite Recycling Industries Limited has produced copper conductors, wire rods, earthing wires, earthing strips, and other products by recycling copper scrap in the electronics, power production, transmission, and distribution sectors.

As per client requirements, the company's product portfolio offers various grades, thicknesses, widths, and standards for all kinds of copper products.

Sunlite Recycling Industries has a manufacturing and registration office in Kheda, Gujarat. The facility spans over 12,152 square meters and is equipped with more than 20 machines, enabling the company to produce an extensive array of copper products.

As of March 31, 2024, the company reported operating revenue of Rs. 85,168.31 lacs and employed 38 people.
 

Highlights of the Sunlite Recycling IPO

• IPO price band: ₹100 to ₹105 per share.
• Minimum application lot size: 1200 shares.
• Minimum investment for retail investors: ₹126,000.
• Minimum investment for High Net-worth Investors (HNI): 2 lots (2,400 shares), ₹252,000.
• Registrar: Cameo Corporate Services Limited.