Sunlite Recycling Industries IPO: All Important Things To Know

• Sunlite Recycling Industries IPO is a book-built issue of Rs 30.24 crores.
• This upcoming IPO bidding opens on August 12 and closes on August 14, 2024.
• Sunlite Recycling Industries SME IPO price is set at Rs 100 - Rs 105 per share.
• The minimum investment required Rs 1,26,000.

Sunlite Recycling Industries IPO: Synopsis

Sunlite Recycling Industries IPO is open for subscription starting Monday, August 12, 2024, and closing on Wednesday, August 14, 2024. This upcoming IPO's price is Rs 100 to Rs 105 per share. The minimum lot size set for the retail category is 1200 shares. 

Meanwhile, the minimum lot size for the HNI category is 2 lots consisting of 2400 shares. The minimum investment required for retail category investors is Rs 1,26,000 (105 x 1200 shares). However, for the HNI category, the minimum investment amount required is Rs 2,52,000 (105 x 2400 shares). 

Sunlite Recycling Industries IPO is a book-built issue of Rs 30.24 crores. This upcoming IPO is an entirely fresh issue of 28.8 lakh equity shares. The allotment for this new IPO is expected to be finalised on Friday, August 16, 2024.

Sunlite Recycling Industries IPO will be listed on NSE SME on Tuesday, August 20, 2024. HEM Securities Limited is the book-running lead manager, Cameo Corporate Services Limited is the registrar, and Hem Finlease is the market maker for this IPO.

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Sunlite Recycling Industries IPO: About the Company

Sunlite Recycling Industries was established in 2012, engaged in the business of manufacturing copper rods and wires, copper earthing wires, copper earthing strips, copper conductors, copper wire rods. 

The company recycles copper scrap for power generation, transmission, distribution and electronics industries.  The company’s manufacturing facility in Kheda, Gujarat, with a total area of approximately 12,152 square metres and over 20 machines for manufacturing a wide range of copper products. 

Sunlite Recycling product portfolio offers a diversified product range that includes a variety of grades, thicknesses, widths and standards in all types of copper products according to customer specifications. As per latest information, the company employed 38 people as on March 31, 2024.

Sunlite Recycling Industries IPO: Objectives

The amount raised through this IPO will be used for the funding of the capex toward the purchase and installation of new plant and machinery. Additionally, to repay or prepayment of the certain borrowing of the company and fulfilling the general corporate purposes. 

Sunlite Recycling Industries IPO: Other Important Details

Time-Table of Sunlite Recycling Industries IPO

Sunlite Recycling Industries IPO: Financial Metrics (Amt in Rs Lakhs)

Sunlite Recycling Industries posted revenue of Rs 1,16,665.09 lakhs and net profit of Rs 890.36 lakhs for the period ending on March 31 2024. The company's revenue increased by 1.4% and net profit increased by 58.92% between the financial year ending on 31 Mar 2024 and 31 Mar 2023. 

Minimum Investment: Lot Size Details

Promoters of Sunlite Recycling Industries Limited and Their Holdings

The promoters of Sunlite Recycling Industries are Nitin Kumar Heda, Prahladrai Ramdayal Heda & Khushboo Manishkumar Heda. The promoters' shareholdings before the IPO were 100%, after the IPO, shareholdings will drop to 73.53%.

Sunlite Recycling Industries: Strength of Company

1.     Sunlite Recycling Industries manufactures copper rods and wires, copper earthing wires, copper earthing strips, copper conductors, copper wire rods, etc.

2.     The company manufactures its products by recycling copper scrap for power generation, transmission, distribution and electronics industries.

3.     Sunlite Recycling Industries' net profit increased by 58.92% between the FY ending with March 31, 2024, and March 31, 2023. 

FAQs

1. What are the details of the Sunlite Recycling Industries IPO?

Sunlite Recycling Industries IPO is a book-built issue of Rs 30.24 crores. This upcoming IPO is an entirely fresh issue of 28.8 lakh equity shares. The allotment for this new IPO is expected to be finalised on Friday, August 16, 2024.

2. Who are the lead managers for the Sunlite Recycling Industries IPO?

HEM Securities Limited is appointed as the book-running lead manager for the IPO.

3. What is the role of Cameo Corporate Services in this IPO?

Cameo Corporate Services Limited is the registrar for Sunlite Recycling Industries Limited, handling the IPO's administrative aspects.

4. How can I apply for the Sunlite Recycling Industries IPO?

The public subscription of this new IPO will open on August 12, 2024. Click here to initiate the application process. 

5. How will the net proceeds from the IPO be utilised?

The amount raised through this IPO will be used for the funding of the capex toward the purchase and installation of new plant and machinery. Additionally, to repay or prepayment of the certain borrowing of the company and fulfilling the general corporate purposes. 

6. How can I check the allotment status of the IPO?

Investors who applied can check the allotment status of the Sunlite Recycling Industries Limited IPO by visiting here. For further updates follow Bigul. 

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