Kolkata,
December 26, 2025 : Sundrex Oil Company Limited’s SME Initial
Public Offering (IPO) has successfully closed on Day 3 with an overall
subscription of 1.51 times, reflecting steady investor interest across
categories.
The
Retail Individual Investors (RII) segment witnessed strong demand and was
oversubscribed 1.90 times, with bids for 39,71,200 equity shares against
20,89,600 shares reserved. The retail category received a total of 1,241
applications, indicating robust participation from individual investors.
The
Qualified Institutional Buyers (QIB) portion was fully subscribed at 1.00 time,
with bids received for 75,200 equity shares, matching the shares on offer. The
Non-Institutional Investors (NII) category was subscribed 1.01 times, garnering
bids for 16,00,000 equity shares against 15,85,600 shares reserved.
Overall,
the IPO received bids for 56,46,400 equity shares as against 37,50,400 equity
shares offered across categories.
Commenting
on the successful close of the issue, Mr. Mahesh Sonthalia, Chairman &
Managing Director, Sundrex Oil Company Limited, said, “The closing of our IPO
with healthy oversubscription, especially strong retail participation, is
encouraging and reinforces investor confidence in Sundrex Oil’s business model
and growth strategy. We are grateful for the trust shown by investors and
remain focused on strengthening our operations, expanding our product
capabilities, and building a sustainable, scalable enterprise as we enter our
next phase of growth as a listed company.”
The
SME IPO comprised a fresh issue of 37,50,400 equity shares, aggregating to an
issue size of ₹32.25 crore. The issue opened on December 22, 2025, and closed
on December 24, 2025. The price band was fixed at ₹81 to ₹86 per equity share,
and the equity shares are proposed to be listed on the NSE Emerge platform.
The
company intends to utilise the net proceeds towards working capital
requirements, capital expenditure, repayment or prepayment of borrowings,
general corporate purposes, and issue-related expenses, in line with the
objects stated in the Red Herring Prospectus.
Affinity
Global Capital Market Pvt. Ltd. is the Book Running Lead Manager to the issue,
while Cameo Corporate Services Ltd. is the registrar. Sunflower Broking Pvt.
Ltd. is acting as the Market Maker.
Sundrex
Oil Company Limited is promoted by Mr. Mahesh Sonthalia, Mr. Shashank
Sonthalia, and Mr. Aman Sonthalia, supported by an experienced management team
and independent directors, ensuring strong governance as the company
transitions into a listed entity.
About
Sundrex Oil Company Limited
Sundrex
Oil Company Limited, incorporated in 2010, is a manufacturer and wholesaler of
industrial and automotive lubricants, greases, and specialty oils, catering
primarily to B2B customers across infrastructure, manufacturing, automotive,
and public sector undertakings (PSUs) in India.
The
company offers a comprehensive product portfolio including industrial
lubricants, white oils (LLP), metalworking fluids, greases, transformer oils,
and automotive lubricants, supported by in-house R&D, quality assurance,
and ISO 9001:2015 certified manufacturing facilities. Sundrex Oil also
undertakes contract manufacturing, toll blending, and private labelling for
leading industrial clients.
With
a strong PSU and tender-driven business model, a growing pan-India footprint,
and exports to Bangladesh, Nepal, Bhutan and the UAE. Sundrex Oil is focused on
scalable growth, operational excellence, and sustainability-led innovation
through its green subsidiary aligned with India’s Extended Producer Responsibility
(EPR) framework.
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