Sunlite Recycling Industries Ltd
Complete IPO details, including price band, financials, subscription status, and key insights.
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IPO Snapshot
Key metrics and details at a glance.
Price Band
₹105
Per ShareLot Size
1200 Shares
Minimum Investment
₹1,26,000
Issue Size
₹30.24 Cr
Face Value
₹10
Per ShareIPO Type
Book Building - SME
Retail Quota
35%
QIB Quota
50%
NII Quota
15%
IPO Timeline
Important dates for your applying strategy.
Subscription Status
Live demand across investor categories.
Track real-time subscription levels:
*Real-time data subject to exchange updates
Sunlite Recycling Industries Ltd
Business model, operations, and market positioning.
Promoter Holding (Pre-Issue)
100%
Promoter Holding (Post-Issue)
73.53%
Issue Type
Book Building - SME
ISIN
INE0U2N01013
About the Company
Sunlite Recycling Industries Limited is engaged in the business of manufacturing of copper rods & wires, copper earthing wires, copper earthing strips, copper conductors, copper wire bars etc. through recycling of copper scrap, which has electrical and mechanical properties suitable for applications in power generation, transmission, distribution and electronic industries. Further, the company is also engaged in providing job work services for processing of various products of copper. The Company employs an internal quality control mechanism to ensure that its finished product conforms to the exact requirement of its customers.
Industry Overview
While global copper consumption growth would remain tepid at 2% in CY2023, ICRA projects domestic copper demand growth at a healthy ~11% in FY2024 and FY2025. Domestic refined copper demand growth is expected to remain healthy at 11% in FY 2024 and FY 2025 outpacing the rate of global growth in copper demand, given the Government of India's (GoI's) thrust on infrastructure development and a gradual transition to renewable energy. In the domestic market, around 40% of the copper is consumed by infrastructure and construction sector and 11-13% each in the automobile and consumer durable sectors. Significant emphasis by GoI towards affordable housing schemes, smart city projects, the Defence sector as well as the expected higher penetration of EVs and its associated infrastructure bode well for the domestic copper demand outlook.
Company History
Sunlite Recycling Industries Limited was originally formed as partnership firm under the Indian Partnership Act, 1932 ("Partnership Act") in the name and style of "M/s. Sunlite Industries, pursuant to a deed of partnership entered between Prahladrai Ramdayal Heda, Nitin Kumar Heda and Khushboo Manishkumar Heda executed on dated September 28, 2017 on the terms and conditions contained in the said partnership deed. Later on, "M/s Sunlite Industries" was thereafter converted from partnership firm to a private limited Company under part I Chapter XXI of Section 366 of the Companies Act, 2013 with the name and style of "Sunlite Alucop Private Limited" and received a certificate of incorporation dated August 04, 2022 issued by the Registrar of Companies, Central Registration Centre bearing Corporate Identification Number U27200GJ2022PTC134540. Further, pursuant to Special Resolution passed by the shareholders at the Extra Ordinary General Meeting held on January 12, 2024, the name of our Company was changed from "Sunlite Alucop Private Limited" to "Sunlite Recycling Industries Private Limited" and a fresh certificate of incorporation consequent upon change of name was issued by the Registrar of Companies, Ahmedabad vide letter dated January 18, 2024. Subsequently, the Company was converted into a Public Limited Company vide Special Resolution passed by the Shareholders at the Extra Ordinary General Meeting, held on February 10, 2024 and consequently the name of the Company was changed from "Sunlite Recycling Industries Private Limited" to "Sunlite Recycling Industries Limited" vide a fresh certificate of incorporation consequent upon conversion from private company to public company dated April 30, 2024 issued by the Registrar of Companies, Central Processing Centre. Our Company's Corporate Identity Number is U27200GJ2022PLC134540.
Products & Services
- Sunlite Recycling Industries Limited is engaged in the business of manufacturing of copper rods & wires, copper earthing wires, copper earthing strips, copper conductors, copper wire bars etc.
Growth Strategy
- Continue to invest in its technological capabilities.
- Enhancing brand image & meeting quality standards.
- Expand its geographical presence.
- Strong and diversified supplier base for sourcing raw material.
Customer Base
Wholesaler and Retailer
Financial Performance
Revenue, profit after tax and total assets across the last 3 reported financial years.
Revenue
Amount in ₹ crore
Profit After Tax (PAT)
Amount in ₹ crore
Total Assets
Amount in ₹ crore
Figures in ₹ crore, on a standalone basis, as reported for FY23 to FY25.
Objects of the Issue
How the company plans to utilize IPO proceeds.
Use of Proceeds
The funds raised through this IPO will be used for:
Initial public offer of upto 28,80,000 equity shares of face value of Rs. 10/- each (the "Equity Shares") of Sunlite Recycling industries limited ("The Company" or "The Issuer") at an issue price of Rs. 105 per equity share (including share premium of Rs. 95 per equity share) for cash, aggregating up to Rs. 30.24 crores ("Public Issue") out of which 1,48,800 equity shares of face value of Rs. 10 each, at an issue price of Rs. 105 per equity share for cash, aggregating Rs. 1.56 crores will be reserved for subscription by the market maker to the issue (the "Market Maker Reservation Portion"). The public issue less market maker reservation portion i.e. issue of 27,31,200 equity shares of face value of Rs. 10 each, at an issue price of Rs. 105 per equity share for cash, aggregating upto Rs. 28.68 crores is herein after referred to as the "Net Issue". The public issue and net issue will constitute 26.47% and 25.10% respectively of the post-issue paid-up equity share capital of the company.
*Subject to approvals and market conditions.
Strengths & Risks
Key competitive advantages and factors to consider before investing.
- Strong portfolio and diverse range of copper products.
- Stringent quality control mechanism ensuring standardized product quality.
- Revenue from multiple geographies in India.
- Experienced Senior Management.
- The company production costs are vulnerable to fluctuations in raw material prices, especially Copper scrap. Currently, the company haven't secured any long-term supply agreements for the raw materials its need.
- The company is primarily dependent upon few key suppliers within limited geographical location for procurement of raw materials. Any disruption in the supply of these raw materials due to fluctuations in the prices could have a material adverse effect on its business operations and financial conditions.
- The company generates its major portion of sales from its operations in certain geographical regions and any adverse developments affecting its operations in these regions could have an adverse impact on its revenue and results of operations.
- The company has very short span of operating history as company.
- Its top 10 and top 5 customers contribute majority of the company revenues from operations for the period ended December 31, 2023 and for the year ended March 31, 2023, 2022 and 2021. Any loss of business from one or more of them may adversely affect its revenues and profitability.