Sundrex Oil Company Limited’s SME Initial Public Offering concluded on its third day with an overall subscription of 1.51 times, demonstrating steady demand across investor categories.
Retail investors led the response, oversubscribing their allocation 1.90 times, while the QIB and NII segments were fully subscribed at 1.00 time and 1.01 times, respectively. Overall, the issue received bids for 56,46,400 shares, exceeding the 37,50,400 shares offered.
The IPO was priced between ₹81 and ₹86 per equity share and is slated for listing on the NSE Emerge platform. The proceeds will be deployed toward operational expansion, capital expenditure, repayment of borrowings, and general corporate purposes.
With this successful IPO, Sundrex Oil is set to begin its journey as a listed company, backed by strong governance and a seasoned management team.
