The Sunlite Recycling Industries IPO is fixed to open on August 12, 2024, and will close on August 14, 2024 for subscription. The per share price band is decided to be between ₹100 to ₹105 for this IPO. The allotment for this IPO will be done on 16 August and the listing will be on 20 August 2024.
Sunlite Recycling Industries IPO GMP
The Great Market Premium of the Sunlite Recycling Industries IPO is ₹15. GMP is an unofficial market at which the IPO shares are sold and bought before the official start date. GMP is not an official measurement of IPO and it can be changed any time based on the factors such as market conditions, investors interest, etc.
GMP market shares take extra market rate from customers during trading. For example, as the Sunlite Recycling Industries IPO price band per share is ₹100 but in the grey market, it will be traded at ₹115. This IPO started with a fresh issuance of 2,880,000 shares and its aim to raise about ₹30.24 crore.
Investors can apply for a minimum lot size of 1200 shares with an investment of ₹126,000 for retail investors and high Net-worth Individuals (HNIs) can apply for a minimum of 2 lots (2400 shares), with an investment amount of ₹252,000. You can check all the crucial details about this IPO in this article.
Sunlite Recycling Industries IPO Schedule
Sunlite Recycling Industries IPO dates are very crucial for interested investors because missing one date will affect them badly. The schedule for Sunlite Recycling Industries IPO is available below.
| Sunlite Recycling Industries IPO Event | Dates |
| Opening Date | 12 August 2024 |
| Closing Date | 14 August 2024 |
| Allotment Date | 16 August 2024 |
| Refunds Start Date | 19 August 2024 |
| Listing Date | 20 August 2024 |
Sunlite Recycling Industries IPO Lot Size & Registrar
With a total issue size of ₹28.8 lakh, Sunlite Recycling Industries IPO offers a minimum lot size of 1200 shares for an application. Hem Securities Limited is the book-running lead manager for this IPO and the registrar is Cameo Corporate Services Limited. Hem Finlease is the market maker for Sunlite Recycling Industries IPO.
The registrar plays a crucial role in the IPO procedure because they handle the shares allotment, refunds process, and send credit of the investors shares at Demat accounts smoothly. They made the whole process of IPO smooth by performing and handling the crucial aspects between the company and investors.
Sunlite Recycling Industries IPO Price Band & Promoters
The price band of Sunlite Recycling Industries IPO is ₹100 to ₹105 per share. This price band is set to increase the customer interest and fulfil the company’s financial goals. This price band also takes part in the worth and valuation of the company.
Nitin Kumar Heda, Prahladrai Ramdayal Heda, and Khushboo Manishkumar Heda are the promoters of Sunlite Recycling Industries IPO. Sunlite Recycling Industries is the business of manufacturing the copper wires and rods by recycling the scrap of copper. Promoters participation in the IPO enhances confidence and belief of investors because they will be responsible for long-term success of the company.
Sunlite Recycling Industries IPO Reservation
Sunlite Recycling Industries has shared a reservation criteria for different categories to run a smooth IPO. The Sunlite Recycling Industries IPO reservation is divided into three main categories: Qualified Institutional Buyers (QIBs), Non-Institutional Investors (NIIs), and Retail Individual Investors (RIIs) as follows:
| QIB Shares Offered | 50.00% of the Net offer |
| Retail Shares Offered | 35.00% of the Net Offer |
| NII (HNI) Shares Offered | 15.00% of the Net Offer |
Sunlite Recycling Industries IPO Objective
The main goal of Sunlite Recycling Industries IPO is to expand machinery, new plants and enhance the growth of the company. The funding of this IPO will be used to improve the quality of the products and advance them. Secondly, some portion of the IPO will be used to prepay or repay the certain borrowings of the company.
Thirdly and lastly, some part of the IPO’s will be utilised for general corporate purposes which includes working capital requirements, marketing and promotional activities, and other operational needs that support the company’s overall business. These all objectives promote and strengthen the company’s market position.
Sunlite Recycling Industries IPO: Apply or Not?
It’s tough to advise you on whether or not you have to participate in the Sunlite Recycling Industries IPO because this decision will be based on many factors. These factors are company growth rate, market position, financial health, your investment interest, your risk capacity, etc.
Sunlite Recycling Industries is involved in recycling copper wires business through scrap and you know recycling is becoming more important for our environment. So it’s expected that the company will grow in the future and investment can be good for you.
Understanding about the risks factors and how the company resolves them is crucial for making an investment decision. You have to keep in mind that the last decision of applying is yours and you can consult financial experts about this.
