Sunlite Recycling IPO Sees Massive 282x Subscription; Check Key Dates, GMP, and All You Need to Know

Sunlite Recycling Industries Limited’s IPO, which opened for subscription on August 12, 2024, is closing today, August 14, 2024. The IPO has seen an overwhelming response, with the subscription status reflecting strong interest.

Subscription Status:

As of 5 PM on August 14, 2024, the Sunlite Recycling IPO has been subscribed 282.45 times. Here’s how it breaks down:

• Retail category: 252.00 times
• Qualified Institutional Buyers (QIB) category: 109.05 times
• Non-Institutional Investors (NII) category: 584.10 times

Key Dates and Details:

• Subscription Period: August 12 to August 14, 2024
• Allocation Date: Expected on August 16, 2024
• Listing Date: Expected on August 20, 2024, on NSE SME
• Price Range: ₹100 to ₹105 per share
• Minimum Lot Size: 1,200 shares

Objectives of the IPO:

The ₹30.24 crore IPO aims to:

• Fund the purchase of new machinery and plants
• Repay or prepay some of the company’s existing loans
• Cover general corporate expenses

Grey Market Premium (GMP):

As of Wednesday, the Sunlite Recycling IPO was trading at a GMP of +₹50. This means the expected listing price could be around ₹155 per share, which is 47.62% higher than the upper limit of the IPO price of ₹105.

This strong demand suggests high investor confidence in Sunlite Recycling’s growth potential.