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Sunlite Recycling Shares Surge 90% on Stellar Debut, Lists at ₹199.50 on NSE SME 

Sunlite Recycling Industries' shares debuted at ₹199.50 on NSE SME, a 90% premium over the issue price, driven by strong demand, with the IPO oversubscribed over 280 times.
Sunlite Recycling Shares Surge 90% on Stellar Debut, Lists at ₹199.50 on NSE SME 

Sunlite Recycling Industries had an impressive stock market debut on Tuesday, listing at ₹199.50 on NSE SME, a 90% premium over the ₹105 issue price. The strong listing was driven by high demand, with the IPO being oversubscribed over 280 times.

Sunlite Recycling Industries set its IPO price band at ₹100 to ₹105 per share, raising ₹30.24 crore at the upper end through a fresh issue of 28.8 lakh shares. The SME IPO was oversubscribed 282.45 times, with retail, QIB, and NII categories subscribed 252.00, 109.05, and 584.10 times, respectively.

Sunlite Recycling Industries Limited, established in 2012, manufactures a variety of copper products from recycled scrap, serving the power and electronics sectors. They’ve expanded from oxygen-free copper rods to a broader product range, leveraging 20 machines at their Gujarat facility. Committed to environmental sustainability, they use solar energy and natural gas in copper recycling, conserving resources, and reducing pollution.

The objective of Sunlite Recycling Industries Ltd IPO is to raise capital for various purposes such as funding expansion plans, enhancing technology, reducing debt, or general corporate needs. The funds were raised through a combination of a fresh issue of shares and an offer for sale.

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