The Sundrex Oil Initial Public Offering (IPO) has received a healthy response from investors, with the issue being subscribed 0.41 times as of 2:00 PM on the first day of bidding. The company aims to raise ₹32.25 crore through the IPO.
The IPO opened for subscription on December 22 and will remain open until December 24. The price band of the IPO has been fixed between ₹81 and ₹86 per equity share.
Sundrex Oil is a manufacturer and wholesaler of lubricants, greases, and a wide range of industrial products, serving both B2B and B2C markets across India. The company's revenue profile is predominantly concentrated in the Business-to-Business (B2B) segment, accounting for approximately 99% of the total revenue.
The IPO allotment date is set for December 26, and the shares are expected to be listed on the NSE SME on December 30. Investors who receive an allotment will see the shares in their demat accounts by December 29, while those who do not will have their refunds processed on the same day.
Remember, this is a general update and not investment advice. It's essential to do your own research and consult with certified experts before making any investment decisions.
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