IPO Details

Bidding Dates

12 Aug '24 - 14 Aug '24

Minimum Investment

₹1,26,000 / 1 Lot (1,200 Shares)

Price Range

₹100 - ₹105

Maximum Investment

₹1,26,000 / 1 Lot (1,200 Shares)

Retail Discount

To be announced

Issue Size

₹30.24 Cr

Investor category and sub category

Qualified Institutional Buyers  |   Retail Individual Investors  |   Non-institutional Investor  |  

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Open Date

Aug 12, 2024

IPO Close Date

Aug 14, 2024

Basis of Allotment

Aug 16, 2024

Initiation of Refunds

Aug 19, 2024

Credit of Shares to Demat

Aug 19, 2024

Listing Date

Aug 20, 2024

Cut-off time for UPI mandate confirmation

Aug 14, 2024

About Sunlite Recycling Industries Limited

Established in 2012, Sunlite Recycling Industries Limited specialises in manufacturing copper products by recycling copper scrap. The company produces a wide range of copper rods and wires, copper earthing wires, copper earthing strips, copper conductors, and copper wire rods, catering to power generation, transmission, distribution, and electronics industries.

Sunlite Recycling Industries offers a diversified product portfolio that includes various grades, thicknesses, widths, and standards of copper products tailored to customer specifications. This extensive range demonstrates the company's commitment to meeting diverse customer needs and industry standards.

The company's registered office and manufacturing facility are located in Kheda, Gujarat, encompassing a total area of approximately 12,152 square meters. The facility is equipped with over 20 machines dedicated to the manufacturing of a wide range of copper products, ensuring high-quality production and efficiency.

As of March 31, 2024, Sunlite Recycling Industries Limited reported a total revenue from operations of ₹85,168.31 lacs. The company employs 38 skilled individuals who contribute to its operational success and growth. With a strong focus on recycling and sustainability, Sunlite Recycling Industries Limited continues to be a key player in the copper manufacturing industry, supporting various sectors with its high-quality products.

Industry Outlook:

  1. India's copper consumption is projected to grow by approximately 11% in FY2024 and FY2025, driven by infrastructure development and renewable energy investments.
  2. The Indian copper industry, consuming around 6.6 lakh tonnes annually, represents only 3% of the global copper market.

Sunlite Recycling Industries IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

  1. Funding of capital expenditure towards the installation of new Plant & Machinery.
  2. Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company.
  3. General Corporate Purpose.

Peer Details

The companies considered by Sunlite Recycling Industries as its peers include:

  1. Rajnandini Metal Limited
  2. Bhagyanagar India Limited

How to Check the Allotment Status of the Sunlite Recycling Industries Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

  • Log in to the Angel One app
  • Go to the individual order details page of the IPO that you had applied for.
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Contact Details of Sunlite Recycling Industries Limited IPO

  • Registered office: Survey No. 270A & Plot No. 1, Survey No. 267, Chhatha Mile, Dantali, Vaso, Kheda - 387350, Gujarat, India
  • Phone: +91-9265111757
  • E-mail: cs@sunliteindustries.com

IPO Financials

Particulars Year ending on March 31, 2024 Year ending on March 31, 2023 Year ending on March 31, 2022
Revenue From Operations (in ₹ lakh) 1,16,627.09 1,15,018.88 93,719.32
Profit After Tax (PAT) (in ₹ lakh) 890.36 560.27 426.03
Cash & Cash Equivalents (in ₹ lakh) 7.34 203.22 4.77
Net Worth (in ₹ lakh) 2,003.90 362.08 1,158.58
Debt to Equity Ratio(x) 1.74 12.83 2.19
Return on Equity (%) 75.26% 73.69% 47.85%
Return on Capital Employed (RoCE) (%) 29.49% 24.05% 22.85%
Earning Per Share (EPS)-in absolute ₹ 19.35 14.01 10.65

Know before investing

Strengths

6

  1. Manufactures diverse copper products: rods, wires, strips, and conductors.

  2. Serves customers across 10 states and union territories in India.

  3. Recorded ₹85,168.31 lakhs revenue in fiscal year 2024.

  4. ISO 9001:2015 is certified for stringent quality management systems.

  5. Led by experienced promoters with 15-17 years in the industry.

  6. Strategic presence: 45.73% revenue from Gujarat, 21.49% from Dadra and Nagar Haveli.

Risks

6

  1. Raw material price fluctuations account for 96.36% of costs in FY2024.

  2. The company relies on the top 10 suppliers for 52.03% of purchases in FY2024.

  3. Geographic concentration: 45.73% of revenue comes from Gujarat in FY2024.

  4. Customer concentration: Top ten customers contribute 40% of revenue in FY2024.

  5. Potential risk from aluminium wires substituting copper wires.

  6. High volume-low margin business with a PBT margin of 1.01% in FY2024.

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Sunlite Recycling Industries IPO FAQs

What is Sunlite Recycling Industries Ltd's IPO?

Sunlite Recycling Industries Limited IPO is a book built IPO. The IPO will be open from August 12, 2024, to August 14, 2024.

When will Sunlite Recycling Industries Ltd's IPO be allotted?

The Basis of Allotment will happen on Friday, August 16, 2024.

When will Sunlite Recycling Industries Ltd's IPO open for subscription?

The IPO subscription window will open on August 12, 2024.

What minimum lot size can retail investors subscribe to?

The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1,200 shares.

When will Sunlite Recycling Industries Ltd list on exchanges?

The listing date for Sunlite Recycling Industries is Tuesday, August 20, 2024.

What would be the listing gains on the Sunlite Recycling Industries Ltd IPO?

Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.

I have finished the application process for the Sunlite Recycling Industries Ltd IPO, but the funds still need to be debited. What is the reason?

Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.

How do I approve the UPI mandate request for Sunlite Recycling Industries Ltd's IPO?

You must complete the payment process by logging in to your UPI handle and approve the payment mandate.

Can I submit more than one application for the public issue of Sunlite Recycling Industries Ltd using one PAN?

You can submit only one application using your PAN card.