Sunlite Recycling Industries Ltd, a company that makes copper products, recently had a very successful initial public offering (IPO). The IPO, which was open for bidding from August 12 to 14, was in high demand, with investors subscribing over 282 times the shares available.
Today, August 16, the company is expected to finalize the allotment of shares. Those who are allotted shares will see them credited to their demat accounts on August 19. For those who did not get shares, refunds will be processed on the same day.
Investors can check their allotment status online. To do this, visit the Cameo Corporate Services website, select “Sunlite Recycling Industries Limited” from the dropdown, and enter your details, such as DP ID, Client ID, Application Number, or PAN. After entering the captcha code, click “Submit” to see your allotment status.
In the grey market, Sunlite Recycling shares are trading at a premium of ₹61 per share above the issue price, suggesting a strong debut on the stock market. The estimated listing price is around ₹166 per share, which is 58.1% higher than the issue price of ₹105 per share.
The IPO saw heavy participation across all categories, with retail investors subscribing 252 times, Qualified Institutional Bidders (QIB) 109 times, and Non-Institutional Investors (NII) 584 times.
The IPO was priced between ₹100 and ₹105 per share, and the company raised ₹30.24 crore. The funds will be used for new plant and machinery, repaying certain loans, and general corporate needs. Sunlite Recycling Industries shares will be listed on the NSE SME on August 20.
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