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Sunlite Recycling Industries Ltd IPO

  • Status: Closed
  • ₹ 120,000 / 1200 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    20 Aug 2024

  • Listing Price

    ₹ 199.50

  • Listing Change

    99.50%

  • Last Traded Price

    ₹ 162.50

IPO Details

  • Open Date

    12 Aug 2024

  • Close Date

    14 Aug 2024

  • IPO Price Range

    ₹ 100

  • IPO Size

    ₹ 28.80 - 30.24 Cr

  • Listing Exchange

    TBA

  • Listing Date

    20 Aug 2024

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IPO Timeline

Sunlite Recycling Industries Limited, established in 2012, specialises in manufacturing copper products by recycling copper scrap. The company caters to various industries, including power generation, transmission, distribution, and electronics. Its product portfolio encompasses a diverse range of copper items, including copper rods and wires, copper earthing wires, copper earthing strips, copper conductors, and copper wire rods.

The company's manufacturing facility is strategically located in Kheda, Gujarat, spanning an area of approximately 12,152 square meters. This facility houses over 20 machines dedicated to producing various copper products. Sunlite Recycling Industries prides itself on its ability to manufacture products according to customer specifications, offering various grades, thicknesses, and widths that adhere to industry standards.

As of 31st March 2024, the company employed 38 people and recorded a total revenue from operations of ₹85,168.31 lacs.

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 IPO Reservation

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 IPO Anchor Investors Details

Bid Date August 9, 2024
Shares Offered 818,400
Anchor Portion Size (In Cr.) 8.59
Anchor lock-in period end date for 50% shares (30 Days) September 15, 2024
Anchor lock-in period end date for remaining shares (90 Days) November 14, 2024
  • 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.

Strengths

  • Established Presence: With over a decade of experience since its establishment in 2012, Sunlite Recycling Industries has built a strong presence in the copper recycling and manufacturing industry.
  • Diverse Product Portfolio: The company offers a wide range of copper products that meet the specifications of various industries and customers.
  • Strategic Location: The manufacturing facility in Kheda, Gujarat, provides logistical advantages and access to key markets.
  • Growth Trajectory: The company has shown consistent growth, with revenue increasing by 1.4% and PAT rising by 58.92% between FY23 and FY24.
  • Customer-Centric Approach: The ability to manufacture products according to customer specifications enhances customer satisfaction and loyalty.

Risks

  • Market Volatility: Fluctuations in copper prices and scrap availability could impact profitability.
  • Regulatory Changes: Stricter environmental regulations or changes in recycling policies could affect operations and increase compliance costs.
  • Competition: Intense competition from organised and unorganised copper recycling industry players could pressure margins.
  • Economic Slowdown: Any downturn in key industries served by the company could reduce demand for copper products.
  • Currency Fluctuations: If the company expands into export markets, currency exchange rate fluctuations could impact profitability.

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FAQs

Sunlite Recycling Industries IPO is a SME IPO of 2,880,000 equity shares of the face value of ₹10 aggregating up to ₹30.24 Crores. The issue is priced at ₹100 to ₹105 per share. The minimum order quantity is 1200 Shares.

The IPO opens on August 12, 2024, and closes on August 14, 2024.

Cameo Corporate Services Limited is the registrar for the IPO. The shares are proposed to be listed on NSE SME.

Steps to apply in Sunlite Recycling Industries IPO through 5paisa

  1. Visit the 5paisa website and login to Dashboard
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'Sunlite Recycling Industries IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

The Sunlite Recycling Industries IPO opens on August 12, 2024 and closes on August 14, 2024.

Sunlite Recycling Industries IPO lot size is 1200 Shares, and the minimum amount required is ₹126,000.

The finalization of Basis of Allotment for Sunlite Recycling Industries IPO will be done on Friday, August 16, 2024, and the allotted shares will be credited to your demat account by Monday, August 19, 2024. 

The Sunlite Recycling Industries IPO listing date is on August 20, 2024.