Sundrex Oil Company Limited’s INR 32.25 crore SME IPO opens today; price band set at INR 81–86 per share

The IPO comprises a fresh issue of 37,50,400 equity shares at a price band of Rs. 81 to Rs. 86 per share, aggregating to Rs. 32.25 crore. Affinity Global Capital Market Pvt. Ltd. is the book running lead manager to the issue, while Cameo Corporate Services Ltd. is acting as the registrar.

For the financial year ended March 31, 2025, Sundrex Oil Company Limited reported total revenue of Rs. 69.12 crore, registering a 41% year-on-year increase. Profit after tax for the same period grew by 112% compared to the previous financial year, reflecting improved operational performance and scale.

Commenting on the opening of the public issue, Mr. Mahesh Sonthalia, Chairman & Managing Director, Sundrex Oil Company Limited, said, “Opening our IPO marks a significant milestone in Sundrex Oil’s journey as a manufacturing-led B2B enterprise. The public issue will support our efforts to strengthen operations, enhance balance sheet efficiency, and pursue sustainable growth while continuing to serve industrial and PSU customers with a strong focus on quality and compliance.”

As per the issue structure, 2.11% of the net issue is allocated to Qualified Institutional Buyers, 58.67% to individual investors applying for the minimum application size, and 39.22% to the Non-Institutional Investor segment. The market maker portion consists of 1,88,800 shares.

The proceeds from the IPO will be utilised towards funding working capital requirements, capital expenditure, prepayment or repayment of secured or unsecured loans, general corporate purposes, and issue-related expenses.

Sundrex Oil Company Limited is engaged in the manufacturing and wholesale of industrial lubricants, automotive lubricants, greases, and specialty products. The company operates a manufacturing-led business model and also undertakes contract manufacturing, toll blending, and private labelling services for industrial clients.

Sundrex Oil Company Limited is promoted by Mr. Mahesh Sonthalia, Mr. Shashank Sonthalia and Mr. Aman Sonthalia, who collectively bring extensive experience across strategy, operations and financial management in the lubricants and industrial products sector. The leadership team is supported by seasoned professionals and independent directors, ensuring strong governance and operational discipline as the company enters its next phase of growth.

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