IPO News : Sunlite Recycling Industries Limited’s IPO, which opened for subscription on August 12, 2024, is set to close today, August 14, 2024. The IPO has garnered a strong response, reflecting its popularity among investors, as shown by its impressive subscription figures.
Table of Contents
IPO News : Sunlite Recycling IPO Subscription Status:
As of 5 PM on August 14, 2024, the Sunlite Recycling IPO had been oversubscribed by 282.45 times. Breaking it down by categories, the retail category was subscribed 252.00 times, the Qualified Institutional Buyers (QIB) category 109.05 times, and the Non-Institutional Investors (NII) category 584.10 times, according to data from Chittorgarh.com.
Key Dates and Details:
The IPO, which began on August 12, 2024, is concluding today. The allocation of shares is expected to be finalized on August 16, 2024. If all goes according to plan, Sunlite Recycling Industries’ shares will be listed on the NSE SME platform on Tuesday, August 20, 2024.
The price band for the Sunlite Recycling Industries IPO was set between ₹100 and ₹105 per share, with investors required to apply for a minimum lot size of 1,200 shares.
Objectives of the IPO:
The ₹30.24 crore Sunlite Recycling Industries IPO is a book-built issue, offering a fresh issue of 28.8 lakh shares. The company plans to utilize the funds raised from this IPO for several purposes: financing capital expenditures related to the installation of new machinery and plants, repaying or prepaying some of the company’s existing debt, either fully or partially, and for general corporate purposes.
Grey Market Premium (GMP):
As of Wednesday, the Grey Market Premium (GMP) for the Sunlite Recycling IPO was reported at +₹50, according to investorgain.com. This indicates that the shares of Sunlite Recycling were being traded at ₹50 above their issue price in the grey market, reflecting positive investor sentiment ahead of the official listing.
Sunlite Recycling Industries Limited’s IPO
What is the subscription status of the Sunlite Recycling Industries IPO?
The Sunlite Recycling Industries IPO was oversubscribed by 282.45 times as of August 14, 2024. The retail category was subscribed 252.00 times, the QIB category 109.05 times, and the NII category 584.10 times.
What are the key dates for the Sunlite Recycling Industries IPO?
The IPO opened on August 12, 2024, and closed on August 14, 2024. The share allocation is expected to be completed on August 16, 2024, and the shares are likely to be listed on the NSE SME platform on August 20, 2024.
What is the price range for the Sunlite Recycling Industries IPO?
The price band for the Sunlite Recycling Industries IPO is set between ₹100 and ₹105 per share.
What will the proceeds from the Sunlite Recycling Industries IPO be used for?
The proceeds from the IPO will be used for financing capital expenditures related to new machinery and plants, repaying or prepaying existing debt, and for general corporate purposes.
What is the Grey Market Premium (GMP) for the Sunlite Recycling Industries IPO?
The Grey Market Premium (GMP) for the Sunlite Recycling Industries IPO was reported to be +₹50 on August 14, 2024, indicating strong demand for the shares ahead of their official listing.
What is the minimum lot size for investing in the Sunlite Recycling Industries IPO?
The minimum lot size for the Sunlite Recycling Industries IPO is 1,200 shares.
What type of issue is the Sunlite Recycling Industries IPO?
The Sunlite Recycling Industries IPO is a book-built issue, comprising a fresh issue of 28.8 lakh shares.
Who are the lead managers for the Sunlite Recycling Industries IPO?
The lead managers for the Sunlite Recycling Industries IPO have not been explicitly mentioned in the provided details.
When will the allotment status of the Sunlite Recycling Industries IPO be announced?
The allotment status for the Sunlite Recycling Industries IPO is expected to be announced on August 16, 2024.
On which stock exchange will Sunlite Recycling Industries be listed?
Sunlite Recycling Industries is expected to be listed on the NSE SME platform on August 20, 2024.