Sungarner Energies IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Sungarner Energies IPO will open on August 21 and close on August 23, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 5.31 crore through this public offering, consisting of 6.4 lakhs shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 83 per share.
Sungarner Energies Limited (“the Company”)
Incorporated in 2015. Sungarner Energies Limited was a design engineering and solar EPC company, and gradually the company also diversified into the manufacturing of power electronics and energy storage products. Today, Sungarner Energies Limited is also into the manufacturing of solar inverters, online UPS systems, EV chargers, and lead acid batteries. SunGarner has also obtained a WMI code for manufacturing EV vehicles (although we have only developed prototypes and have not started full-scale manufacturing of EV vehicles).
The company has already established a distribution network in some of the key markets, like Haryana, UP, Bihar, Rajasthan, and Assam. SunGarner Today has six service centers in India: Delhi, UP, Haryana, Bihar, Assam, and Bengal SunGarner is in the process of expanding its footprint further by appointing an additional 500 franchisees to cover all major districts of India by the end of 2025. Also, SunGarner has started exports in the last 2 years and has exported its products to Nigeria, Lebanon, Nepal, Dubai, and Bhutan.
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- To meet the working capital requirements of the company,
- General corporate purposes, and
- To meet issue expenses.
Financial Highlights (Restated)
| Particulars | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|
| Net Worth | 320.54 | 156.23 | 98.73 |
| Total Assets | 1,014.67 | 536.27 | 318.19 |
| Reserve & Surplus | 152.66 | 109.73 | 52.23 |
| Total Borrowings | 424.11 | 226.62 | 103.78 |
| Total Revenue | 1,765.33 | 797.66 | 536.43 |
| Profit After Tax | 74.31 | 57.50 | 15.72 |
IPO details
As per the DRHP filed with SEBI, 6.4 lakh shares will be offered as a fresh issue in the NSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 57,600 shares of the offering. While Fast Track Finsec Pvt Ltd will be the lead manager for the IPO, Skyline Financial Services Private Ltd will be the registrar. It will be a Fixed Price Issue IPO, so the price at which the securities are offered or allotted is known in advance to the investor.
| Issue Type | Fixed Price Issue IPO |
| IPO Price | ₹ 83 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 1,600 shares |
| Issue Size | 640,000 shares (aggregating up to ₹ 5.31 crores) |
| Fresh Issue | 640,000 shares (aggregating up to ₹ 5.31 crores) |
| Listing At | NSE SME |
Market Maker detail
| Market maker | Nikunj Stock Brokers |
| Market maker portion | 57,600 shares |
IPO Reservation
| Categories | No. of shares offered |
|---|---|
| Other shares offered | 50% |
| Retail shares offered | Not less than 35% of the offer |
GMP: Sungarner Energies IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Sungarner Energies IPO
The issue opens for subscription on August 21, 2023, and closes for subscription on August 23, 2023 (both days inclusive). The basis of allotment will be finalised on August 28, 2023, and the refunds will be initiated on August 29, 2023. In addition, the demat credits are expected to happen on August 30, 2023, and the stock will be listed on the NSE SME on August 31, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | August 21, 2023, |
| Closing Date | August 23, 2023 |
| Basis of Allotment | August 28, 2023 |
| Initiation of Refunds | August 29, 2023 |
| A credit of shares to Demat A/c | August 30, 2023 |
| Listing Date | August 31, 2023 |
Lot Size
The lot size of the Sungarner Energies IPO is 1,600 shares. A retail-individual investor can apply for up to 1 lot, i.e. 1,600 shares of ₹ 132,800.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 1,600 | ₹ 132,800 |
| Retail (Maximum) | 1 | 1,600 | ₹ 132,800 |
| HNI (Minimum) | 2 | 3,200 | ₹ 265,600 |
Promoters Holdings
Mr. Sumit Tiwari and Mrs. Snigdha Tiwari are the promoters of the company.
| Pre-issue Shares Holdings | 84.94% |
| Post-issue Shares Holdings | 61.49% |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP |
| Company Contact Information | Sungarner Energies Limited 1/5322, S/F, Plot No. 19A, Gali No.13, Balbir Nagar Ext., New Delhi- 110032 Phone: +917428296411 Email: legal@sungarner.com Website: https://www.sungarner.com/ |
| IPO Registrar | Skyline Financial Services Private Ltd Phone: 02228511022 Email: compliances@skylinerta.com Website: https://www.skylinerta.com/ipo.php |
| IPO Lead Manager(s) | Fast Track Finsec Pvt Ltd |
FAQs
What is Sungarner Energies’ IPO price?
The Sungarner Energies IPO price is ₹ 83 per share.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors. One lot of the Sungarner Energies IPO contains 1,600 shares of ₹ 132,800.
When will the Sungarner Energies IPO allotment be available?
The finalisation of the basis of allotment for the Sungarner Energies IPO will be done on August 28, 2023, and the allotted shares will be credited to your demat account by August 30, 2023. Check the Sungarner Energies IPO allotment status.
When will the Sungarner Energies IPO list on exchanges?
The Sungarner Energies IPO shares listing date is August 31, 2023.
