Fixed Price IPO | ₹5 Cr | Listed at NSE SME | Mon, Aug 21, 2023 - Wed, Aug 23, 2023
Sungarner Energies IPO is a fixed price issue of ₹5.31 crores. The issue is entirely a fresh issue of 0.06 crore shares of ₹5.31 crore.
Sungarner Energies IPO bidding started from Aug 21, 2023 and ended on Aug 23, 2023. The allotment for Sungarner Energies IPO was finalized on Aug 28, 2023. The shares got listed on NSE SME on Aug 31, 2023.
Sungarner Energies IPO price is ₹83 per share. The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹1,32,800 (1600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (3,200 shares), amounting to ₹2,65,600.
Fast Track Finsec Pvt.Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Nikunj Stock Brokers Ltd..
Refer to Sungarner Energies IPO RHP for detailed Information.
IPO Open
Mon, Aug 21, 2023
IPO Close
Wed, Aug 23, 2023
Issue Price
₹83 per share
Market Cap (Pre-IPO)
₹19.25 Cr
| IPO Date | 21 to 23 Aug, 2023 |
| Listed on | Thu, Aug 31, 2023 |
| Face Value | ₹10 per share |
| Issue Price | ₹83 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 6,40,000 shares (agg. up to ₹5 Cr) |
| Reserved for Market Maker | 57,600 shares Nikunj Stock Brokers Ltd. (agg. up to ₹0.4781 Cr) |
| Fresh Issue (Ex Market Maker) | 5,82,400 shares (agg. up to ₹5 Cr) |
| Net Offered to Public | 5,82,400 shares (agg. up to ₹5 Cr) |
| Share Holding Pre Issue | 16,78,750 shares |
| Share Holding Post Issue | 23,18,750 shares |
| NSE Symbol | SEL |
| ISIN | INE0O3O01017 |
Sungarner Energies IPO comprises a total issue size of 6,40,000 shares. The net offer to the public is 5,82,400 shares, after excluding 57,600 shares allotted on a firm basis. Of the Net offer 2,91,200 (50.00%) allocated to NII 2,91,200 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 2,91,200 | 50.00% | 45.50% |
| Retail Shares Offered | 2,91,200 | 50.00% | 45.50% |
| Firm Reservations | |||
| Market Maker Shares Offered | 57,600 | 9.00% | |
| Total Shares Offered | 6,40,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,32,800 |
| Retail (Max) | 1 | 1,600 | ₹1,32,800 |
| HNI (Min) | 2 | 3,200 | ₹2,65,600 |
Incorporated in 2015, Sungarner Energies Limited is engaged in the business of manufacturing Solar Inverters, Online UPS Systems, EV Chargers, and Lead Acid Batteries.
SEL started as a Design Engineering and Solar EPC company and gradually diversified into Manufacturing Power Electronics and Energy Storage Products. The company produces lead acid batteries of varying capacities in the range from 12 Volts 40 ampere-hours to 12 volts 300 ampere-hours.
SunGarner has also obtained a WMI code for the manufacturing of EV Vehicles which is currently in the prototype stage, awaiting full-scale manufacturing of EV Vehicles.
SunGarner's main clientele comes from the states of Haryana, UP, Bihar, Rajasthan, and Assam. It has 6 service Centres in India - Delhi, UP Haryana, Bihar Assam, and Bengal. The company is in the process of expanding its footprint by appointing an additional 500 Franchisees to cover all major Districts of India by the end of 2025. Also, SunGarner has also started exports in the last 2 years and has exported its products to Nigeria, Lebanon, Nepal, Dubai and Bhutan.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 10.15 | 5.36 | 3.18 |
| Total Income | 17.65 | 7.98 | 5.36 |
| Profit After Tax | 0.74 | 0.58 | 0.16 |
| NET Worth | 3.21 | 1.56 | 0.99 |
| Reserves and Surplus | 1.53 | 1.10 | 0.52 |
| Total Borrowing | 4.24 | 2.27 | 1.04 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Working Capital Requirement | 3.50 |
| 2 | General Corporate Purposes | 1.11 |
| KPI | |
|---|---|
| ROE | 31.17% |
| ROCE | 25.28% |
| Debt/Equity | 1.32 |
| RoNW | 23.18% |
| PAT Margin | 4.29% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 6.35 | |
| P/E (x) | 13.07 | |
| Promoter Holding | 84.94% | 61.49% |
| Market Cap | ₹19.25 Cr. |
The Sungarner Energies IPO is subscribed 152.4 times on August 23, 2023 7:29:00 PM (Day 3). The public issue subscribed 192.93 times in the retail category, [.] times in the QIB category, and 110.59 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 110.59 | 2,91,200 | 3,22,04,800 |
| Retail | 192.93 | 2,91,200 | 5,61,82,400 |
| Total | 152.4 | 5,82,400 | 8,87,58,400 |
Total Application : 35,114
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead manager(s) fees including underwriting commission | 0.15 |
| 2 | Brokerage, selling commission and upload fees. | 0.10 |
| 3 | Registrars to the issue | 0.02 |
| 4 | Legal Advisors | 0.01 |
| 5 | Printing, advertising and marketing expenses | 0.01 |
| 6 | Regulators including stock exchanges | 0.04 |
| 7 | Others, if any (Advisors to the company, Peer Review Auditors, and other misc. expenses like printing & stationery etc.) | 0.37 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹83.00 |
| Open | ₹250.00 |
| Low | ₹237.50 |
| High | ₹262.50 |
| Last Trade | ₹262.35 |
Lead Manager Reports
Sungarner Energies IPO is a SME IPO of 6,40,000 equity shares of the face value of ₹10 aggregating up to ₹5 Crores. The issue is priced at ₹83 per share. The minimum order quantity is 1600.
The IPO opens on Mon, Aug 21, 2023, and closes on Wed, Aug 23, 2023.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Sungarner Energies IPO using UPI as a payment gateway. Zerodha customers can apply in Sungarner Energies IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Sungarner Energies IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Sungarner Energies IPO opens on Mon, Aug 21, 2023 and closes on Wed, Aug 23, 2023.
Sungarner Energies IPO lot size is 1600, and the minimum amount required for application is ₹1,32,800.
You can apply in Sungarner Energies IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Sungarner Energies IPO will be done on Monday, August 28, 2023, and the allotted shares will be credited to your demat account by Wed, Aug 30, 2023. Check the Sungarner Energies IPO allotment status.
The Sungarner Energies IPO listing date is on Thu, Aug 31, 2023.
