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Sunlite Recycling Industries Shares List with 90% Premium at ₹199.50 on NSE SME

Sunlite Recycling Industries made an impressive debut on the stock market today, with shares listed at ₹199.50 each on the NSE SME platform, marking a 90% premium over the issue price of ₹105 per share.

Market Expectations Surpassed

The listing exceeded market expectations, as shares of Sunlite Recycling were trading at a 75% premium in the grey market before the listing. The strong demand for the IPO, which was oversubscribed by more than 280 times, also contributed to the high listing price.

Sunlite Recycling IPO Details

The IPO opened for subscription on August 12 and closed on August 14. The shares were allotted on August 16, and the listing took place today, August 20, on the NSE SME platform.

The IPO price band was set between ₹100 and ₹105 per share. At the highest price point, the company raised ₹30.24 crore by issuing 28.8 lakh fresh equity shares.

This SME IPO was heavily subscribed, receiving 282.45 times more bids than the shares available. Specifically, the retail category was subscribed 252 times, the Qualified Institutional Bidders (QIB) category was subscribed 109.05 times, and the Non-Institutional Investors (NII) category was subscribed 584.10 times.

The funds raised from the IPO will be used to buy new machinery, repay some of the company’s debts, and for general corporate purposes.

Hem Securities Ltd managed the IPO, while Cameo Corporate Services Ltd handled the share allotments.

Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.​​

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