IPO Details
Bidding Dates
12 Aug 24 - 14 Aug 24
Price Range ₹
100 - 105
Total Equity
₹ 30.24Cr
Lot Size
1200
Exchange Status
NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
0.00×
Qualified Institutional Buyers
0.00×
Employees
0.00×
Retail Investors
0.00×
Total subscription Rate
0.00×
IPO Timeline
Offer start
12 Aug 2024
Offer end
14 Aug 2024
Allotment
16 Aug 2024
Refund initiation
19 Aug 2024
Demat transfer
19 Aug 2024
Listing
20 Aug 2024
Offer start
12 Aug 2024
Offer end
14 Aug 2024
Allotment
16 Aug 2024
Refund initiation
19 Aug 2024
Demat transfer
19 Aug 2024
Listing
20 Aug 2024
About Company
Founded in 2012, Sunlite Recycling Industries Limited specializes in manufacturing copper rods, wires, earthing wires, earthing strips, conductors, and wire rods by recycling copper scrap. These products are used in the power generation, transmission, distribution, and electronics industries. The company offers a diverse product range, including various grades, thicknesses, widths, and standards, tailored to customer specifications. Sunlite Recycling Industries operates a registered office and manufacturing facility in Kheda, Gujarat, covering approximately 12,152 square meters and housing over 20 machines for copper product manufacturing. As of March 31, 2024, the company reported a total revenue from operations of Rs. 85,168.31 lacs and employed 38 people.
Year Founded
-0
Promotor Details
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 100 | 73.53 |
| Share Capital | 8000000 | 8000000 |
Offer to Public
28,80,000.00 Cr
Project Details
- Funding of capital expenditure towards installation of new Plant & Machinery - 43.426cr
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company - 158cr
Objectives
- Funding of capital expenditure towards installation of new Plant & Machinery.Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company.General Corporate Purpose.
Highlights
- Sunlite Recycling Industries Limited boasts a strong and diverse range of copper products, including rods, wires, earthing strips, and conductors, catering to various industrial needs. This broad product offering allows the company to serve a wide array of sectors and customer requirements, enhancing its market reach and competitive edge.
- The company implements a rigorous quality control mechanism to ensure that all products meet standardized quality benchmarks. This commitment to quality not only satisfies customer expectations but also strengthens the company's reputation for reliability and excellence in the industry.
- Sunlite Recycling Industries benefits from a wide geographic presence across India, which diversifies its revenue streams and reduces dependency on any single market. This geographical diversification allows the company to tap into different regional markets, increasing its resilience to localized economic fluctuations.
- The company is led by a seasoned senior management team with extensive experience in the copper manufacturing and recycling industry. Their expertise and strategic vision drive the company’s growth initiatives and operational efficiencies, fostering sustainable development and long-term success.
- Sunlite Recycling Industries is committed to investing in advanced technological capabilities to improve its manufacturing processes and product quality. By enhancing its brand image and consistently meeting quality standards, the company aims to expand its geographical presence and strengthen its market position. Additionally, it maintains a strong and diversified supplier base for sourcing raw materials, ensuring a stable and cost-effective supply chain.
Challenges
- The company's production costs are highly sensitive to changes in raw material prices, particularly copper scrap. Without long-term supply agreements, the company relies heavily on a few key suppliers in limited geographical areas. Any disruption in supply or price volatility could significantly impact its business operations and financial condition.
- A major portion of the company's sales is generated from certain geographical regions. Any adverse developments in these areas could negatively affect its revenue and operational results. Additionally, the top 10 and top 5 customers contribute significantly to the company's revenue. Losing business from one or more of these key customers could adversely impact profitability.
- Copper wires face competition from aluminum wires, which are cheaper and lighter. This substitution threat could affect the company’s core business and overall profitability. Furthermore, the majority of its revenue comes from a single business segment—copper rods. A decline in demand or failure to adapt to market changes could harm revenue and growth prospects.
- The company's operations are high-volume but low-margin, making consistent turnover critical for financial health. Disruptions in turnover or failure to grow sales could materially affect the business. The company does not own its registered office, manufacturing unit, or marketing office. Non-renewal of rent agreements or disputes could disrupt operations.
- Manufacturing operations involve the hazardous process of melting copper scrap, posing risks of accidents that could disrupt production and impact the company’s ability to meet customer demand. Additionally, there are ongoing legal proceedings involving the company. Adverse rulings could affect cash flow, financial results, reputation, and future business prospects.
