In total, bids were received for 43,02,400 equity shares against 37,50,400 shares available across categories. The issue also witnessed strong retail engagement, with 944 retail applications received.
Commenting on the response, Mr. Mahesh Sonthalia, Chairman & Managing Director, Sundrex Oil Company Limited, said, “The full subscription of our IPO within the second day reflects growing confidence in Sundrex Oil’s business fundamentals and long-term vision. The strong participation from retail investors, along with complete subscription in the QIB category, reinforces our belief that the market recognises our focus on quality manufacturing, operational discipline, and sustainable growth. We remain committed to deploying the proceeds efficiently to strengthen our capabilities and scale responsibly.”
The SME IPO comprises 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 will close on December 24, 2025. The price band is 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 accordance 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, who bring extensive experience across manufacturing, operations, and financial management in the lubricants and industrial products sector. The promoters are supported by a professional management team and independent directors, ensuring strong governance and compliance standards 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
.jpeg)
.jpg)
.jpeg)
