Sundrex Oil Company Limited’s SME Initial Public Offering (IPO) concluded successfully on its third day, recording an overall subscription of 1.51 times, indicating steady interest from investors across categories.
The Retail Individual Investors (RII) segment saw strong participation and was oversubscribed 1.90 times, with bids for 39,71,200 equity shares against 20,89,600 shares earmarked for retail investors. The segment received 1,241 applications, reflecting encouraging response from individual investors.
The Qualified Institutional Buyers (QIB) category achieved full subscription at 1.00 time, while the Non-Institutional Investors (NII) segment was subscribed 1.01 times. In total, the IPO received bids for 56,46,400 equity shares, compared to 37,50,400 shares on offer.
Commenting on the response, Mr. Mahesh Sonthalia, Chairman & Managing Director, expressed appreciation for investor confidence and reaffirmed the company’s focus on expanding operations and strengthening its market position as it enters its next phase as a listed entity.
Last Updated on Tuesday, January 20, 2026 9:05 am by Startup Chronicle Team
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