Sunlite Recycling Industries Ltd. was incorporated on September 28, 2017. The company is engaged in the business of manufacturing copper rods & wires, copper earthing wires, copper earthing strips, copper conductors, copper wire bars, etc. through recycling of copper scrap, which has electrical and mechanical properties suitable for applications in power generation, transmission, distribution and electronic industries.
| Bidding Dates |
|---|
| 12 Aug 2024 - 14 Aug 2024 |
| Subscription |
|---|
| 262.14x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,20,000 | 1 | 1 | 1200 | 2.9 M | ₹100 - ₹105 | 73.53 % | ₹288.0 M - ₹302.4 M | RHP DOC |
Sunlite Recycling IPO SUBSCRIPTION STATUS
14 Aug '24Sunlite Recycling IPO overall subscription rate was 262.14 times the total available shares
Sunlite Recycling IPO retail subscription rate was 334.02 times in the retail segment
Sunlite Recycling IPO non-institutional investor subscription rate was 775.65 times in the non-institutional investor category
Sunlite Recycling IPO Qualified Institutional Bidder subscription rate was 57.76 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
14 Aug 2024 (Day 3) | 334.02x | 775.65x | 57.76x |
13 Aug 2024 (Day 2) | 54.21x | 32.11x | 3.24x |
12 Aug 2024 (Day 1) | 14.97x | 11.1x | 1.39x |
Sunlite Recycling FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| FY24 | 89.0 | 11,662.7 | 112.9 | 88.7 | 1.6% |
| FY23 | 56.0 | 11,501.9 | 23.8 | -5.4 | 1.2% |
| FY22 | 42.6 | 9,371.9 | -78.8 | -109.6 | 1.1% |
Sunlite Recycling IPO SUBSCRIPTION STATUS DETAILS
Sunlite Recycling had 2.9 M shares on offer
Sunlite Recycling IPO offer price was in the range ₹100 - ₹105
Sunlite Recycling IPO minimum Investment was ₹120000
Sunlite Recycling IPO issue size was ₹ 288.0 M - ₹ 302.4 M
Sunlite Recycling had a minimum lot size of 1200 Shares per application
Sunlite Recycling NUMBER OF SHARES ON OFFER
Sunlite Recycling IPO IMPORTANT DATES
| Issue Open Date | 12 Aug 2024 |
| Issue close Date | 14 Aug 2024 |
| Allotment Date | 16 Aug 2024 |
| Refund Date | 16 Aug 2024 |
| Demat Account Credit Date | 19 Aug 2024 |
| Listing Date | 20 Aug 2024 |
| Listing on Exchange(s) | NSE |
| Sunlite Recycling Allotment Status | Exchange |
Sunlite Recycling IPO subscription opened on 12 Aug 2024, and closed on 14 Aug 2024
IPO allotment for Sunlite Recycling was finalized on Friday, 16 Aug 2024
IPO listing for Sunlite Recycling was on NSE on Tuesday, 20 Aug 2024
Sunlite Recycling IPO LISTING GAINS
| Issue Price (adjusted) | 105.0 |
| Listing Open Price | 199.5 |
| Listing Close Price | 209.4 |
| Listing Gain% | 90.0% |
| Current Gain% | 318.0% |
Sunlite Recycling Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sunlite Recycling Industries Ltd. | 438.9 | 477.5 | 14.8 | 0.2 | 25.4 | 17.4 | 2791.5 | 41 | 29.7 | ||||
| Hindustan Copper Ltd. | 536.1 | 51842.2 | 56.4 | 0.6 | 16.8 | 27.5 | 20.8 | 3149.7 | 46.6 | 918.5 | 97.5 | 9.5 | 97.5 |
| Bhagyanagar India Ltd. | 393.2 | 1258 | 20 | 0.1 | 0.5 | 19.5 | 7.9 | 2382.5 | 46.1 | 50.2 | 257.9 | 19.6 | 216.4 |
| Mardia Samyoung Capillary Tubes Company Ltd. | 55.8 | 443.3 | 199.1 | 2.3 | 6 | 2.4 | 2.3 | 73.9 | 2573.3 | 2.2 | 85.6 | 0.3 | 85.6 |
| Baroda Extrusion Ltd. | 8.4 | 162.3 | 22.1 | -0.4 | 0.9 | 29.4 | 13.2 | 183.9 | 15.5 | 7.3 | -62.8 | 0.4 | -62.8 |
| Madhav Copper Ltd. | 58.3 | 158.3 | 35.2 | -8.9 | 0.7 | 8.9 | 4 | 235.7 | 87.9 | 4.5 | -4.3 | 1.7 | -4 |
Sunlite Recycling INFORMATION ON IPO ISSUE
About Sunlite Recycling
Sunlite Recycling Industries Ltd. was incorporated on September 28, 2017. The company is engaged in the business of manufacturing copper rods & wires, copper earthing wires, copper earthing strips, copper conductors, copper wire bars, etc. through recycling of copper scrap, which has electrical and mechanical properties suitable for applications in power generation, transmission, distribution and electronic industries.
Object of the Issue
- Funding of capital expenditure towards installation of new plant & machinery
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company
- General corporate purpose
Sunlite Recycling - PROMOTERS
| Name |
|---|
| Nitin Kumar Heda |
| Prahladrai Ramdayal Heda |
| Khushboo Manishkumar Heda |
| Manish Kumar Heda |
Sunlite Recycling Lead Manager of the Issue
Hem Securities Limited
ib@hemsecurities.com
Sunlite Recycling Registrar to the issue
Cameo Corporate Services Limited
ipo@cameoindia.com
Sunlite Recycling Strengths
Diverse range of products
The company manufactures a diverse range of copper products which includes copper rods & wires, copper earthing wires, copper earthing strips, copper conductors, copper wire bars etc. The company deals in a wide range of products, which enables them to cater to a widespread customer base across various states in India.
Geographically diversified
The company has diversified revenue from multiple geographical locations in various states in India. It has generated around 92.80 % and 93.27% of its total revenue from sales in the top 5 geographical regions in India in FY24 and FY23.
Sunlite Recycling Risks
Dependent on few suppliers
The company is primarily dependent upon a few key suppliers within a limited geographical location for the procurement of raw materials. Any disruption in the supply of these raw materials due to fluctuations in the prices could have an adverse material effect on the company's business operations and financial conditions.
Dependent on single segment
Majority of the revenue is dependent on a single business segment i.e. copper rods, which accounted for 89.66% of the total revenue from operations in FY24. Its inability to anticipate or adapt to evolving upgradation of products or reduction in the demand for such products may adversely impact its revenue from operations and growth prospects.
Dependent on few customers
The company's top 10 and top 5 customers contribute majority of its revenues from operations. Any loss of business from one or more of them may adversely affect the revenues and profitability.
IPO FAQs
The promoters of the company are Nitin Kumar Heda, Prahladrai Ramdayal Heda, Khushboo Manishkumar Heda and Manish Kumar Heda.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 100.0 - 105.0.
The IPO application opens on Aug 12, 2024 and closes on Aug 14, 2024.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 120,000.0, the maximum value for this IPO is Rs 126,000.0.
This IPO will be allotted on Aug 16, 2024.
The refund will be credited to your account on Aug 16, 2024.
The allotted shares will be credited to your demat on Aug 19, 2024.
Sunlite Recycling Industries Ltd.’s shares listed on the stock exchanges on Aug 20, 2024.