Incorporated in 2015, Sungarner Energies Limited is engaged in the business of manufacturing Solar Inverters, Online UPS Systems, EV Chargers, and Lead Acid Batteries.
SEL started as a Design Engineering and Solar EPC company and gradually diversified into Manufacturing Power Electronics and Energy Storage Products. The company produces lead acid batteries of varying capacities in the range from 12 Volts 40 ampere-hours to 12 volts 300 ampere-hours.
SunGarner has also obtained a WMI code for the manufacturing of EV Vehicles which is currently in the prototype stage, awaiting full-scale manufacturing of EV Vehicles.
SunGarner’s main clientele comes from the states of Haryana, UP, Bihar, Rajasthan, and Assam. It has 6 service Centres in India – Delhi, UP Haryana, Bihar Assam, and Bengal. The company is in the process of expanding its footprint by appointing an additional 500 Franchisees to cover all major Districts of India by the end of 2025. Also, SunGarner has also started exports in the last 2 years and has exported its products to Nigeria, Lebanon, Nepal, Dubai and Bhutan.
Sungarner Energies IPO Details
Sungarner Energies IPO is a Fixed Price Issue. The IPO total issue size is Rs 5.31 Cr. The Sungarner Energies IPO price is ₹83 per share. The IPO will list on NSE SME.
| IPO Date | Aug 21, 2023 to Aug 23, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹83 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 640,000 shares (aggregating up to ₹5.31 Cr) |
| Fresh Issue | 640,000 shares (aggregating up to ₹5.31 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 1,678,750 |
| Share holding post issue | 2,318,750 |
| Market Maker portion | 57,600 shares Nikunj Stock Brokers |
Sungarner Energies IPO Reservation
Sungarner Energies IPO a total of 640,000 shares are offered. RII: 291,200 (45.50%), NII: 291,200 (45.50%).
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 57,600 (9.00%) |
| Other Shares Offered | 291,200 (45.50%) |
| Retail Shares Offered | 291,200 (45.50%) |
| Total Shares Offered | 640,000 (100%) |
Sungarner Energies IPO Timetable (Tentative)
Sungarner Energies IPO opens on Aug 21, 2023, and closes on Aug 23, 2023.
| IPO Open Date | Monday, 21 August 2023 |
| IPO Close Date | Wednesday, 23 August 2023 |
| Basis of Allotment | Monday, 28 August 2023 |
| Initiation of Refunds | Tuesday, 29 August 2023 |
| Credit of Shares to Demat | Wednesday, 30 August 2023 |
| Listing Date | Thursday, 31 August 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Aug 23, 2023 |
Sungarner Energies IPO Lot Size
The minimum lot size of this Sungarner Energies IPO is 1600 shares required is ₹132,800.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹132,800 |
| Retail (Max) | 1 | 1600 | ₹132,800 |
| HNI (Min) | 2 | 3,200 | ₹265,600 |
| Lot Size Calculator |
Sungarner Energies IPO Promoter Holding
Mr. Sumit Tiwari and Mrs. Snigdha Tiwari are the company’s promoters.
| Pre Issue Share Holding | 84.94% |
| Post Issue Share Holding | 61.49% |
Company Financials
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 318.19 | 536.27 | 1,014.67 |
| Revenue | 536.43 | 797.66 | 1,765.33 |
| Profit After Tax | 15.72 | 57.50 | 74.31 |
| Net Worth | 98.73 | 156.23 | 320.54 |
| Reserves and Surplus | 52.23 | 109.73 | 152.66 |
| Total Borrowing | 103.78 | 226.62 | 424.11 |
Amount in ₹ Lakhs
Key Performance Indicator
Sungarner Energies IPO Market Cap is Rs 19.25 Cr and P/E (x) is 13.07.
| KPI | Values |
|---|---|
| P/E (x) | 13.07 |
| Market Cap (₹ Cr.) | 19.25 |
| ROE | 31.17% |
| ROCE | 25.28% |
| Debt/Equity | 1.32 |
| EPS (Rs) | 6.35 |
| RoNW | 23.18% |
Check Sungarner Energies IPO Peer Comparison here.
Objects of the Issue
The proceeds from the issue will be used for the following objects:
- To meet the working capital requirements of the company,
- General corporate purposes, and
- To meet issue expenses.
Sungarner Energies IPO Review (May apply)
[Dilip Davda] The company operates in a highly competitive and fragmented segment. It reported an average financial performance and its IPO price discounts all near-term positives. The small paid-up equity capital indicates a longer gestation period for migration. Well-informed investors may park funds for long-term rewards. Read detail review…
Sungarner Energies IPO Subscription Status (Bidding Detail)
The Sungarner Energies IPO is subscribed 152.40 times on Aug 23, 2023 7:29:00 PM. The public issue subscribed 192.93 times in the retail category, times in the QIB category, and 110.59 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 110.59 |
| Retail | 192.93 |
| Total | 152.40 |
Total Application : 35,114 (192.93 times)
Sungarner Energies IPO Prospectus
Company Contact Information
Sungarner Energies Limited
1/5322, S/F, Plot No. 19A,
Gali No.13, Balbir Nagar Ext.,
New Delhi- 110032
Phone: +917428296411
Email: legal@sungarner.com
Website: https://www.sungarner.com/
Sungarner Energies IPO Registrar
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: compliances@skylinerta.com
Website: https://www.skylinerta.com/ipo.php