The initial share sale of Kolkata-based Sundrex Oil Company has officially closed, with the allotment process now underway. The lubricant manufacturer's public offering on the NSE SME platform saw a modest response from investors.
IPO Subscription and Key Details
The Sundrex Oil IPO was open for subscription from Monday, 22 December, to Wednesday, 24 December. The issue managed to garner an overall subscription of 1.5 times the shares on offer. A closer look reveals that the retail investor segment showed stronger interest, with the portion reserved for them being subscribed 2 times.
Priced in the band of ₹81 to ₹86 per equity share, the IPO was entirely a fresh issue of 37,50,400 shares, each with a face value of ₹10. Through this offering, the company aims to raise approximately ₹32.25 crore. The net proceeds are earmarked for several corporate purposes, including meeting working capital requirements, funding capital expenditure, repaying certain loans, and covering general corporate expenses alongside the offer-related costs.
Understanding Sundrex Oil's Business and Financials
Sundrex Oil operates as a manufacturer and wholesaler of lubricants, greases, and various industrial products with a pan-India presence. Its revenue model is heavily skewed towards the business-to-business (B2B) segment, which contributes a staggering 99% of its total revenue. The remaining 1% comes from direct sales to consumers (B2C).
The company has demonstrated significant growth in profitability. Its consolidated profit jumped from ₹2.6 crore in FY24 to ₹5.4 crore in FY25. For the current financial year (FY26), the company reported a profit of ₹1.9 crore for the period up to June 30.
Revenue from operations has also seen a healthy increase, rising from ₹48.31 crore in FY24 to ₹67.2 crore in FY25. In the first quarter of FY26 (till June 30), the revenue from operations stood at ₹18.71 crore.
How to Check Your Sundrex Oil IPO Allotment Status
Investors who applied for the IPO can now check if they have been allotted shares through two primary online channels. The registrar for the issue is Cameo Corporate Services Limited.
Checking Status on the Registrar's Website
Step 1: Visit the official registrar link: https://ipo.cameoindia.com/.
Step 2: Select the appropriate link for the Sundrex Oil IPO.
Step 3: Choose 'Sundrex Oil Company' from the list of company names.
Step 4: In the 'Type' dropdown menu, select either your Application Number or PAN.
Step 5: In the 'Value' field, enter the details corresponding to your chosen type.
Step 6: Enter the captcha code displayed and click 'Submit'. Your allotment status will be displayed on the screen.
Checking Status on the NSE Website
Step 1: Go to the NSE's allotment status page at https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids.
Step 2: Select the option for 'Equity and SME IPO bids'.
Step 3: From the 'Issue Name' dropdown menu, choose 'Sundrex Oil IPO'.
Step 4: Enter your Permanent Account Number (PAN) and Application Number.
Step 5: Click the 'Submit' button to view your allotment status.
Grey Market Premium and Listing Expectations
As of the latest update, the grey market premium (GMP) for Sundrex Oil shares was nil. This indicator from the unofficial market suggests that the stock is expected to list at or around its issue price of ₹86 per share, without any significant premium on the listing day.
Investors are advised to note that the grey market premium is an unofficial measure and can be highly volatile. The final listing price will be determined by market forces on the day of the stock's debut on the NSE SME platform.
