Sunlite Recycling Industries Limited IPO: A Closer Look

Sunlite Recycling Industries Limited IPO

Sunlite Recycling Industries Limited is planning an initial public offering (IPO) to raise Rs 30.24 crores. The company, which recycles copper scrap and manufactures copper goods, intends to grow its operations and strengthen its financial position through this public offering.

Company Profile

Sunlite Recycling Industries is a major player in the copper recycling market. The company collects copper scrap, processes it, and produces a variety of copper goods such as rods, wires, earthing wires, strips, conductors, and wire bars. These devices have uses in a variety of industries, including power generation, transmission, distribution, and electronics.

With a focus on quality, efficiency, and environmental sustainability, the company has carved out a solid market position. Sunlite helps to save resources by recycling copper scrap, which reduces the environmental impact of copper mining.

IPO Details

The Sunlite Recycling Industries IPO is a book-built issue of 28.8 lakh equity shares with a face value of Rs 10 per share. The price band for the IPO is fixed at Rs 100 to Rs 105 per share. The total issue size amounts to Rs 30.24 crores.

• IPO Open Date: August 12, 2024
• IPO Close Date: August 14, 2024
• Allotment Date: August 16, 2024
• Listing Date: August 20, 2024 (Tentative)
• Issue Size: Rs 30.24 crores
• Price Band: Rs 100 – Rs 105 per share
• Lot Size: 1200 shares
• Listing Exchange: NSE SME

Use of Proceeds

The proceeds from the IPO will be utilized for the following purposes:

• Expansion of manufacturing facilities
• Upgradation of technology
• Working capital requirements
• General corporate purposes

Industry Outlook

The copper recycling business is expected to grow significantly due to rising demand for copper, increased awareness of environmental sustainability, and stringent waste management rules. Sunlite Recycling Industries, a prominent participant in this industry, is well-positioned to gain from the current market conditions.

Investment Highlights

• Strong track record in copper recycling
• Diversified product range
• Focus on environmental sustainability
• Potential for growth in the copper recycling industry

Conclusion

The Sunlite Recycling Industries IPO allows investors to participate in the growth of the copper recycling industry. However, investors should undertake their own research and analysis before to making an investing decision.