Sungarner Energies Limited IPO is set to launch on 21 August, 2023. The company initiated its business operations in the year 2015. It manufactures Online UPS Systems, Solar Inverters, Lead Acid Batteries, EV Chargers etc. Sungarner Energies started Design Engineering and Solar EPC and then entered into Manufacturing Power Electronics. Its clients are located across India in UP, Haryana, Rajasthan, Bihar, Assam etc. There are 6 Service Centres in India. The company plans to expand its presence with more than 500 franchises. Its exports business has commenced since the last 2 years and the company deals with multiple nations like Nepal, Lebanon, Dubai, Nigeria, Bhutan etc.
Sungarner Energies Limited IPO DETAILS
Sungarner Energies Limited IPO is set to launch on 21 August, 2023. The subscription timeline extends till 23 August, 2023. The size for the IPO is 5.31 Crore Rs. Shares issued through fresh issue mode are worth 5.31 Crore Rs. No Shares are issued through offer for sale mode. The lot size is 1600 shares and the price is 83 Rs per share. The company is going to get listed at NSE SME. The face value per share is Rs.10 and this is a Fixed Price issue. The registrar for the company is Skyline Financial Services Private Limited.
Tabular Description of Sungarner Energies Limited IPO
| IPO OPENING DATE | 21 August, 2023 |
| CLOSING DATE FOR IPO | 23 August, 2023 |
| ISSUE TYPE | Fixed Price Issue |
| Face Value per share | 10 Rs. per share |
| IPO price band | 83 Rs per share |
| LOT SIZE | 1600 shares |
| MINIMUM ORDER QUANTITY | 1600 shares |
| ISSUE SIZE | 5.31 Crore Rs. |
| OFFER FOR SALE | No share offered through Offer for sale mode |
| FRESH ISSUE | 5.31 Crore Rs. |
| LISTING AT | NSE SME |
| LISTING DATE | 31 August, 2023 |
Sungarner Energies Limited IPO : IMPORTANT DATES
| IPO OPENING DATE | 21 August, 2023 |
| CLOSING DATE FOR IPO | 23 August, 2023 |
| IPO ALLOTMENT DATE | 28 August, 2023 |
| REFUNDS | 29 August, 2023 |
| DEMAT A/C CREDITED ON | 30 August, 2023 |
| IPO LISTING DATE | 31 August, 2023 |
Sungarner Energies Limited IPO begins for subscription from 21 August, 2023. The IPO subscription would continue till 23 August, 2023. The allotment status for the shareholders who applied would come on 28 August, 2023. The refunds for the ones who did not get allotment would be initiated on 29 August, 2023. The DEMAT accounts of shareholders would be credited on 30 August, 2023. The listing of the company would be completed on 31 August, 2023.
Sungarner Energies Limited IPO : Lead Managers
The lead managers are :
- Skyline Financial Advisors Private Limited
The minimum lot size for the company is decided at 1600 shares. This holding accounts to 132800 Rs.. The maximum lot size is decided at 3200 shares (HNI). This amounts to 265600 Rs.. Hence the company’s final holdings would be set as :
| Shares | Amount | |
| Minimum | 1600 shares | 132800 Rs. |
| Maximum | 3200 shares | 265600 Rs. |
OBJECTIVES FOR THE IPO
- IPO proceeds would be used for general corporate purposes.
- The company will use the IPO money for further working capital requirements.
COMPANY FINANCIALS
| Particularly (in Lakh Rs.) | 2020-21 | 2021-22 | 2022-23 |
| ASSETS | 318 | 536 | 1014 |
| Revenue | 536 | 797 | 1765 |
| PAT | 15 | 57 | 74 |
Sungarner Energies Limited had an asset base of 318 Lakh Rs in the year 2021 which increased to 536 Lakh Rs in the year 2022 and 1014 Lakh Rs in the year 2023. The company’s revenue was recorded at 536 Lakh Rs in the year 2021, 797 Lakh Rs in the year 2022 and 1765 Lakh Rs in the year 2023. Sungarner Limited recorded a profit of 15 Lakh Rs in the year 2021, 57 Lakh Rs in the year 2022 and 74 Lakh Rs in the year 2023.
PROS
- Sungarner Energies started Design Engineering and Solar EPC and then entered into Manufacturing Power Electronics. It has a diversified product line for manufacturing which includes Online UPS Systems, Solar Inverters, Lead Acid Batteries, EV Chargers etc.
- Its clients are located across India in UP, Haryana, Rajasthan, Bihar, Assam etc. There are 6 Service Centres in India.
- The company plans to expand its presence with more than 500 franchises.
- Its exports business has commenced since the last 2 years and the company deals with multiple nations like Nepal, Lebanon, Dubai, Nigeria, Bhutan etc.
CONS
- The company works in a highly competitive segment.
Sungarner Energies Limited IPO Application Process with Zerodha
It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :
- Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
- Click the Sungarner Energies Limited IPO button and press the BID button.
- Entering the details asked for like UPI ID, Quantity and price.
- Submit the application form for the IPO.
- Visiting the application of UPI for approving the transaction.
Now, applying for an IPO online is possible with most of the Discount and online brokers.
