Sunlite Recycling Industries IPO Allotment: The initial public offering (IPO) of copper products manufacturer Sunlite Recycling Industries Ltd received strong demand during its subscription period. As the bidding for the offer has closed, investors now await Sunlite Recycling Industries IPO allotment, which is expected to be fixed today.
Sunlite Recycling IPO was open for public subscription from August 12 to 14. The SME IPO is subscribed more than 282 times. Sunlite Recycling Industries IPO allotment date is today, August 16 and IPO listing date is August 20.
The company is likely to finalise the basis of allotment soon. It will credit the shares into the demat accounts of those who have received allotment on Monday, August 19, and initiate refunds to unsuccessful bidders on the same day.
Sunlite Recycling IPO allotment status is most likely to be finalised today. Investors can check their Sunlite Recycling Industries IPO allotment status online on the NSE website on the official portal of the IPO registrar. Cameo Corporate Services Limited is the registrar for the Sunlite Recycling Industries IPO.
Here are the steps to do Sunlite Recycling IPO allotment status check online:
Step 1] Visit IPO registrar Cameo Corporate Services website at this link - https://ipo.cameoindia.com/
Step 2] Select ‘Sunlite Recycling Industries Limited’ in the Select Company dropdown menu
Step 3] Choose among DP ID/ Client ID, Application No, or PAN
Step 4] Enter the details as per the option selected
Step 5] Enter the Captcha code and click on ‘Submit’
Your Sunlite Recycling Industries IPO allotment status will be displayed on the screen.
Sunlite Recycling Industries shares are commanding a stellar premium in the unlisted market. According to stock market observers, Sunlite Recycling Industries IPO GMP today, or grey market premium today is ₹61 per share. This indicates that Sunlite Recycling shares are trading higher by ₹61 in the grey market than their issue price.
The GMP today and the issue price suggests that the estimated Sunlite Recycling IPO listing price would be ₹166 per share, a premium of 58.1% to the IPO price of ₹105 apiece.
Sunlite Recycling Industries IPO was subscribed 282.45 times in total as the issue received bids for 54.02 crore equity shares as compared with 19.12 lakh shares on the offer.
The IPO was subscribed 252.00 times in the retail category, 109.05 times in the Qualified Institutional Bidders (QIB) category, and 584.10 times in the Non-Institutional Investors (NII) category.
Sunlite Recycling IPO opened for public subscription on Monday, August 12, and closed on Wednesday, August 14. The Sunlite Recycling Industries IPO allotment date is today, August 16, and the IPO listing date is August 20. Sunlite Recycling Industries shares will be listed on NSE SME.
Sunlite Recycling Industries IPO price band was set at ₹100 to ₹105 per share. The company raised ₹30.24 crore from the book-built issue which was entirely a fresh issue of 28.8 lakh equity shares.
The company intends to utilize the fresh issue proceeds to fund capital expenditure towards the installation of new Plant & Machinery, repay certain borrowings and for general corporate purposes.
Hem Securities Ltd is the book running lead manager of the Sunlite Recycling Industries IPO, while Cameo Corporate Services Ltd is the IPO registrar.
