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Sunlite Recycling Industries IPO
Price Band
₹100.0–105.0
Issue Size
₹30.24 Cr
Lot Size
1,200 shares
Min Investment
₹126,000
GMP
+₹79.0 (75.24%)
Issue Price
₹105.0
Subject to Sauda
₹72000
Paid only if allotted
Sunlite Recycling Industries IPO AI Summary
- Sunlite Recycling Industries IPO is listed on NSE SME in the Aluminium, Copper & Zinc Products sector.
- Price band: ₹100.0–₹105.0 per share, lot size 1,200 shares (min. investment ₹126,000).
- Subscription window: 12 Aug–14 Aug 2024, listing on 20 Aug 2024.
- Current GMP is +₹79.0 (75.24%), an estimated listing price of ₹184 — unofficial and can change daily.
Sunlite Recycling Industries Limited is set to list on August 20, 2024, with a strong revenue and profit growth trajectory. The IPO aims to raise funds for expansion and debt repayment, and it has an implied P/E ratio that compares favorably with its peers.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Sunlite Recycling Industries IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 14 Aug 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Sunlite Recycling Industries IPO Grey Market Premium (GMP) Today
GMP
+₹79.0
GMP %
+75.24%
Est. Listing
₹184.0
Updated: 25 Jul 2026 14:04
About the Company
Sunlite Recycling Industries Limited was established in 2012 and manufactures copper rods and wires, copper earthing wires, copper earthing strips, copper conductors, copper wire rods etc. by recycling copper scrap for power generation, transmission, distribution and electronics industries. The company's 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. Sunlite Recycling Industries currently has a registered office and 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. The company recorded a total revenue from operations of Rs. 85,168.31 lacs and employed 38 people as on March 31, 2024.
Company Financials (₹ Cr)
As of 2024-03-31
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 63.21 | 71.63 | 48.02 | 37.43 |
| Total Income | 1,166.55 | 1,150.40 | 937.92 | 394.01 |
| Profit After Tax | 8.90 | 5.60 | 4.26 | 2.53 |
| NET Worth | 20.04 | 3.62 | 11.59 | 6.22 |
| Reserves and Surplus | 12.04 | 3.12 | ||
| Total Borrowing | 34.92 | 46.47 | 25.32 | 17.11 |
Key Ratios
EPS
₹11.13
NAV
₹43.55
ROE
75.26%
ROCE
29.49%
RoNW
44.43%
P/B Value
2.41
P/E Ratio
9.43
Market Cap
₹114.24 Cr
PAT Margin
0.76%
Debt/Equity
1.74
Peer Comparison
| Company | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|
| Bhagyanagar India Ltd. | 23.65% | 7.67 | 14.29 | 14.29 |
| Rajnandini Metal Limited | 26.94% | 24.71 | 0.55 | 0.55 |
| Sunlite Recycling Industries Limited This IPO | 44.43% | 14.99 | 19.35 | 19.35 |
Promoters
Nitin Kumar Heda, Prahladrai Ramdayal Heda and Khushboo Manishkumar Heda
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding of capital expenditure towards installation of new Plant & Machinery 4.05 2 Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company 15.80 3 General Corporate Purpose 7.26
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income rose from ₹394.01 Cr for the period ending 31 Mar 2021 to ₹937.92 Cr by 31 Mar 2022, continuing to increase to ₹1,150.40 Cr by 31 Mar 2023, and reaching ₹1,166.55 Cr by 31 Mar 2024. This shows a consistent upward trend in revenue over the periods analyzed.
Profit Trend
Profit after tax increased from ₹2.53 Cr in the period ending 31 Mar 2021 to ₹4.26 Cr by 31 Mar 2022, then to ₹5.60 Cr by 31 Mar 2023, and finally to ₹8.90 Cr by 31 Mar 2024. This indicates a positive growth trajectory in profitability.
Valuation
Sunlite Recycling Industries has an implied P/E of 14.99 at the issue price. In comparison, peers are trading at a P/E range of 7.67 to 24.71.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on unofficial trading before it officially lists. A positive GMP suggests that investors expect the stock to list at a higher price than the issue price.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall portfolio strategy and risk tolerance. It's important to consider the company's fundamentals and market conditions.
Who May Want to Wait
Investors who prefer stable, established companies with predictable earnings may want to avoid IPOs like this, which can be subject to higher volatility and uncertainty.
Listing Gains — The Risk
Listing-day gains can be unpredictable. Factors such as market sentiment, demand for the stock, and overall market conditions can influence the stock's performance on its first day of trading.
This evaluation is generated from Sunlite Recycling Industries's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Sunlite Recycling Industries IPO GMP today?
Sunlite Recycling Industries IPO GMP today is +₹79.0 (75.24%), indicating an estimated listing price of ₹184. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Sunlite Recycling Industries IPO?
The price band of Sunlite Recycling Industries IPO is ₹100.0–₹105.0 per share.
When does Sunlite Recycling Industries IPO open and close?
Sunlite Recycling Industries IPO opens on 12 August 2024 and closes on 14 August 2024.
When does Sunlite Recycling Industries IPO list on the stock exchange?
Sunlite Recycling Industries IPO listed on 20 August 2024 at ₹184.0.
What is the lot size for Sunlite Recycling Industries IPO?
The lot size for Sunlite Recycling Industries IPO is 1200 shares, requiring a minimum investment of ₹126,000.
What is the lot size for this IPO?
The lot size for Sunlite Recycling Industries IPO is 1200 shares.
What is the minimum investment amount?
The minimum investment required is ₹126,000.
What is the price band for this IPO?
The price band for the IPO is between ₹100.0 and ₹105.0.
When is the listing date for this IPO?
The listing date for the IPO is August 20, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
12 Aug 2024
Close
14 Aug 2024
Allotment
16 Aug 2024
Listing
20 Aug 2024
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