Sundrex Oil IPO in Focus Today: The IPO of Sundrex Oil, which opened today for bidding, has received a healthy response from investors, with the issue being subscribed 0.41 times as of 2:00 PM.
The issue received bids for 14.68 lakh shares against 35.61 lakh shares on offer. Segment-wise, the non-institutional investor category was subscribed 0.15 times, while the retail portion was subscribed 0.60 times. The Qualified Institutional Buyer (QIB) category has not yet opened for bidding, according to exchange data.
The company proposes to utilize the net proceeds from the IPO to meet working capital requirements and for general corporate purposes.
Sundrex Oil issue details
1. Sundrex Oil IPO date: The issue opened for subscription today, December 22, and will remain open until December 24.
2. Sundrex Oil IPO Price: The price band of the IPO has been fixed between ₹81 and ₹86 per equity share.
3. Sundrex Oil IPO Size: The company aims to raise ₹32.25 crore through the IPO, which is a fresh issue of 38 lakh shares.
4. Sundrex Oil IPO Lot Size: The IPO lot size is fixed at 3200 shares, requiring a minimum investment of ₹2.75 lakh for retail investors.
5. Sundrex Oil IPO reservation: The IPO offers 75,200 shares to QIB, 1,396,800 shares were reserved for non-institutional buyers, and 2,089,600 for retail investors.
6. Sundrex Oil IPO allotment date: The IPO allotment date is set for Friday, December 26. Investors who receive an allotment will see the shares in their demat accounts by Monday, December 29, while those who do not will have their refunds processed on the same day.
7. Sundrex Oil IPO listing: The SME IPO is proposed to list on the BSE SME on Tuesday, December 30.
8. Sundrex Oil IPO GMP: According to market sources, the GMP of the Sundrex Oil IPO on Monday was 17, indicating that the stock is likely to list at ₹104 per share, 20% higher than the issue price.
9. Sundrex Oil IPO book-running lead manager and registrar: Affinity Global Capital Market Pvt. Ltd. is the book-running lead manager, and Cameo Corporate Services Ltd. is the registrar of the issue. The market maker of the company is Sunflower Broking Pvt. Ltd.
10. Sundrex Oil overview: The company is a manufacturer and wholesaler of lubricants, greases, and a wide range of industrial products, serving both B2B and B2C markets across India. Its revenue profile is predominantly concentrated in the Business-to-Business (B2B) segment, which accounts for approximately 99% of the total revenue, whereas the remaining 1% of revenue is generated from the Business-to-Customer (B2C) segment.
The portfolio includes the production of industrial lubricant, automotive lubricant, and specialty products.
Disclaimer: We advise investors to check with certified experts before making any investment decisions.
