Sunlite Recycling Industries IPO: Check Allotment Status And Listing Date

The initial public offering of Sunlite Recycling Industries Ltd. received a good response from the investors as the issue was subscribed more than 280 times on the final day, led by demand from non-institutional buyers. The SME IPO received a good response from QIBs and retail investors as well, overall subscription details are as follows:

• Qualified Institutions: 109.05 times.

• Retail Investors: 252.00 times.

• Non-Institutional Buyers: 584.10 times.

*according to market tracking site Chittorgarh.

The allotment for Sunlite Recycling Industries IPO will be finalised on Friday, August 16. Investors who bid for the issue can check Sunlite Recycling Industries IPO allotment status on Cameo Corporate Services Limited by following the step-by-step guide provided below.

Follow the steps to check your share allotment status of Sunlite Recycling Industries IPO.

• Visit the Cameo Corporate Services Limited IPO website: https://ipo.cameoindia.com/

• Select "Sunlite Recycling Industries Limited" from the IPO Allotment Status page drop-down list.

• Choose one of the options: PAN number, DP Client ID, or Application Number, and enter the respective number in the provided field.

• Fill in the captcha code as shown.

• Click on the "Submit" button.

• Your IPO allotment status will be displayed on the screen.

The shares of Sunlite Recycling Industries Limited are set to be listed on NSE SME on Tuesday, August 20.

Shares of Sunlite Recycling Industries will be transferred to your demat account a day before the listing of the IPO at NSE SME.

Investors who failed to secure the shares can check their bank account to know the IPO refund status. Generally, you will receive refund/unblocking notification on the IPO refund initiation date.

The copper-manufacturing company launched its initial public offering on August 12. The SME IPO, was a book-built issue totaling Rs 30.24 crore, consisting entirely of a fresh issue of 28.8 lakh shares.

The Sunlite Recycling Industries IPO's price band was set between Rs 100 and Rs 105 per share. Investors could apply in minimum lots of 1,200 shares, which required a minimum investment of Rs 126,000 for retail investors. High Net-Worth Individuals needed to apply for a minimum of 2,400 shares, amounting to an investment of Rs 252,000.

As per the company's red herring prospectus (RHP), of the total shares offered - 50% was reserved for QIB, 35% for retail investors, and 15% for non-institutional investors. 148,800 shares were reserved for market makers.

Hem Securities Ltd. serves as the book-running lead manager, while Cameo Corporate Services Ltd. is the issue's registrar. Hem Finlease is designated as the market maker.

Founded in 2012, Sunlite Recycling Industries Ltd specialises in the manufacture of copper products through the recycling of copper scrap. The company produces a range of copper items including rods, wires, earthing strips, and conductors, catering to the power generation, transmission, distribution, and electronics industries. With a manufacturing facility in Kheda, Gujarat, covering approximately 12,152 square meters, Sunlite Recycling operates over 20 machines to produce a diverse array of copper products tailored to customer specifications.

The proceeds from the IPO will be allocated towards several key objectives including, funding capital expenditure for the installation of new plant and machinery. Repaying or pre-paying certain existing borrowings, either in full or in part and general corporate purposes to support the company's ongoing operations and growth.