Sunlite Recycling Industries Limited, a firm specializing in turning old copper into new products, has begun its Initial Public Offering (IPO) today.
Sunlite Recycling Industries focuses on producing copper rods, wires, and other items from recycled copper. Their work contributes to resource conservation and environmental protection.
IPO Details
- Share Price: Each share is priced between Rs 100 and Rs 105.
- Funds to be Raised: The company aims to raise approximately Rs 30.24 crores through this IPO.
- Number of Shares: Sunlite is offering 2,880,000 shares to the public.
- Application Period: You can apply for shares from today, August 12th, through August 14th.
- Listing Date: If you acquire shares, they will be available for trading on the stock market starting August 20th.
In the unlisted market, the company’s shares are currently trading with a Grey Market Premium (GMP) of Rs 15, reflecting a 14% premium above the issue price.
GMP, or Grey Market Premium, is the additional amount buyers are willing to pay for shares before they are officially available. It provides insight into the expected interest in the IPO, though it is not an official indicator and can fluctuate.
Should You Invest?
Investing in an IPO is a significant choice. It’s essential to research the company, its operations, and potential risks before making a decision. Consulting with a financial advisor can also help guide your investment choices.
