Sundrex Oil Company Limited has successfully closed its SME IPO with an overall subscription of 1.51 times on the final day of the issue, reflecting positive investor sentiment.
The retail portion of the issue emerged as the key driver, witnessing an oversubscription of 1.90 times. Bids were received for 39,71,200 equity shares in the retail category against an allocation of 20,89,600 shares, supported by 1,241 investor applications.
The QIB segment was fully subscribed, while the NII category marginally exceeded full subscription at 1.01 times. Overall, bids were placed for 56,46,400 equity shares against the total issue size of 37,50,400 shares.
The IPO, priced in the range of ₹81–₹86 per share, is proposed to be listed on the NSE Emerge platform. The proceeds will be utilised towards working capital needs, capital expenditure, repayment of borrowings, and general corporate purposes.
Last Updated on: Tuesday, January 20, 2026 2:46 pm by Outlook News Team | Published by: Outlook News Team on Tuesday, January 20, 2026 2:43 pm | News Categories: News
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