Sundrex Oil Company Limited's SME IPO closes fully subscribed on Day 3; Issue subscribed 1.51 times; retail segment oversubscribed 1.90 times

VMPL
Kolkata (West Bengal) [India], December 26: 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.
For further information on the companies:
www.Affinityglobalcap.in
www.sundrexoil.com
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