Sundrex Oil Company
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
3 observations recorded — too few to plot a trend.
Day-wise premium · 3 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 30 Dec 2025 | ₹0 | 0.00% | ₹0 | ₹86 | ₹0 |
| 29 Dec 2025 | ₹0 | 0.00% | ₹0 | ₹86 | ₹0 |
| 28 Dec 2025 | ₹0 | 0.00% | ₹0 | ₹86 | ₹0 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 22 Dec 2025 – 24 Dec 2025
- Listing date
- 30 Dec 2025
- Face value
- ₹10 per share
- Issue price
- ₹86 per share
- Lot size
- 1,600 shares
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹32.24 Cr
- Market cap at offer price
- ₹115 Cr
- Promoter holding
- 100.00% → 72.00% pre-issue → post-issue
- ISIN
- INE0CTB01014
- Registrar
- Cameo Corporate Services Ltd.
- Lead managers
- Affinity Global Capital Market Pvt.Ltd.
- Registered office
- 16 India Exchange Place, 3rd Floor, Room No.-14, West Bengal
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 0 | — | — |
| Market maker | 1,88,800 | — | — |
Application size
Minimum 1,600 shares per lot, in multiples, at ₹86
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,600 | ₹1,37,600 |
| S-HNI (min) | 2 | 3,200 | ₹2,75,200 |
| S-HNI (max) | 7 | 11,200 | ₹9,63,200 |
| B-HNI (min) | 8 | 12,800 | ₹11,00,800 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹86 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 8.04 | — |
| P/E (×) | 10.70 | — |
| Price to book (×) | 5.43 | — |
| Market cap | — | ₹115 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 35.63%
- ROCE
- 27.03%
- Debt / equity
- 1.14
- PAT margin
- 8.10%
- EBITDA margin
- 13.68%
- NAV per share
- ₹15.84
- Price to book
- 5.43
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Sundrex Oil Company
Sundrex Oil Company Limited was originally incorporated on May 8, 2010 in Kolkata, West Bengal as a public limited company (CIN: U23200WB2010PLC147053) and is an ISO 9001:2015 certified manufacturer and wholesaler of lubricants, greases and a wide range of industrial products, serving both B2B and B2C markets across India and in Nepal, Bhutan, Bangladesh and the UAE. Its portfolio covers industrial lubricants (hydraulic, transmission and gear oils), automotive lubricants, greases, metalworking fluids, bituminous products, IS: 335 Certified Transformer Oils, white oil/light liquid paraffin and other specialized formulations. Beyond selling under its own brands, the company provides contract manufacturing services (toll blending and contract packaging) and private-labeling services that let clients market premium-quality products under their own brands without investing in plants or inventory. Demand increasingly comes from PSU/government customers won through the Government e-Marketplace (GeM) portal, where approved coverage grew to 57 product categories and 420 products in FY2025 (vs 6 categories/142 products in FY2024) with 212 orders won in FY2025 (vs 138 in FY2024). It operates through two subsidiaries, OFRS Enterprises Pvt Ltd (acquired in March 2024) and Ecolisör Greentech Pvt Ltd. For FY2025 (consolidated restated), revenue from operations was Rs 6,719.68 lakhs, total income Rs 6,911.86 lakhs and PAT Rs 544.46 lakhs (EPS Rs 8.12), with roughly 84%–93% of revenue concentrated in the eastern states (West Bengal, Jharkhand, Odisha). The promoters — Mr. Mahesh Sonthalia (Chairman & MD), Mr. Shashank Sonthalia and Mr. Aman Sonthalia — held 92.86% pre-issue, with the promoter group taking total promoter-side ownership to 100%; the IPO is a 100% book-built fresh issue of up to 37,50,400 equity shares (no offer for sale) proposed to be listed on NSE EMERGE.
Company Analysis
from DRHPSundrex Oil Company Limited is a Kolkata-based, ISO 9001:2015-certified manufacturer and wholesaler of industrial and automotive lubricants, greases, metalworking fluids, bituminous products and specialty oils (including IS 335-certified transformer oils and white oil), spanning the industrial & automotive lubricants, greases/metalworking fluids and specialty petroleum products industries for B2B and B2C customers across India and abroad.
Sundrex Oil Company Limited was originally incorporated on May 8, 2010 in Kolkata, West Bengal as a public limited company (CIN: U23200WB2010PLC147053) and is an ISO 9001:2015 certified manufacturer and wholesaler of lubricants, greases and a wide range of industrial products, serving both B2B and B2C markets across India and in Nepal, Bhutan, Bangladesh and the UAE. Its portfolio covers industrial lubricants (hydraulic, transmission and gear oils), automotive lubricants, greases, metalworking fluids, bituminous products, IS: 335 Certified Transformer Oils, white oil/light liquid paraffin and other specialized formulations. Beyond selling under its own brands, the company provides contract manufacturing services (toll blending and contract packaging) and private-labeling services that let clients market premium-quality products under their own brands without investing in plants or inventory. Demand increasingly comes from PSU/government customers won through the Government e-Marketplace (GeM) portal, where approved coverage grew to 57 product categories and 420 products in FY2025 (vs 6 categories/142 products in FY2024) with 212 orders won in FY2025 (vs 138 in FY2024). It operates through two subsidiaries, OFRS Enterprises Pvt Ltd (acquired in March 2024) and Ecolisör Greentech Pvt Ltd. For FY2025 (consolidated restated), revenue from operations was Rs 6,719.68 lakhs, total income Rs 6,911.86 lakhs and PAT Rs 544.46 lakhs (EPS Rs 8.12), with roughly 84%–93% of revenue concentrated in the eastern states (West Bengal, Jharkhand, Odisha). The promoters — Mr. Mahesh Sonthalia (Chairman & MD), Mr. Shashank Sonthalia and Mr. Aman Sonthalia — held 92.86% pre-issue, with the promoter group taking total promoter-side ownership to 100%; the IPO is a 100% book-built fresh issue of up to 37,50,400 equity shares (no offer for sale) proposed to be listed on NSE EMERGE.
Objects of the Issue
- To meet working capital requirements (funding incremental working capital for Fiscal 2026) Rs 1,684.55 lakhs p.128
- To meet Capital Expenditure — purchase of stainless-steel SS-304 oil storage tanks (Rs 14.4 lakhs), air handling system with GI ducting required under Schedule 'M' for the proposed Light Liquid Paraffin I.P./IP Grade White Oil plant (Rs 18.88 lakhs), and an Oil Polishing Unit (Rs 40.12 lakhs) Rs 73.40 lakhs p.129
- Prepayment and repayment of all or a portion of certain secured and unsecured loans (term loans of Clix Capital Services, Unity Small Finance Bank, L&T Finance, Poonawalla Fincorp and Yes Bank, plus NSIC short-term loan, aggregating Rs 274.80 lakhs outstanding as at March 31, 2025) Rs 274.80 lakhs p.141
- General Corporate Purposes (shall not exceed 15% of the Gross Proceeds from the Offer) p.129
- To meet the offer related expenses (management fee, underwriting and selling commissions, printing/distribution, legal fee, advertising, registrar, depository and listing fees) p.129
Issue Structure
- Total Issue
- Up to 37,50,400 Equity Shares of face value of Rs 10/- each aggregating up to Rs [●] lakhs
- Fresh Issue
- Up to 37,50,400 Equity Shares aggregating up to Rs [●] lakhs (100% fresh issue)
- Offer for Sale
- NIL (there is no Selling Shareholder participating in the Offer)
- Face Value
- Rs 10/- per Equity Share
Business Model
Earns revenue by manufacturing and wholesaling lubricants, greases, metalworking fluids, bituminous products and specialty oils (including IS: 335 Certified Transformer Oils and white oil/LLP) under its own brands to B2B and B2C customers across India and export markets (Nepal, Bhutan, Bangladesh, UAE); wins PSU/government supply orders through GeM portal tenders; and generates additional service revenue from contract manufacturing (toll blending, contract packaging) and private-labeling for third-party brands.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mahesh Sonthalia | Promoter | 85.00% | — |
| Shashank Sonthalia | Promoter | 6.43% | — |
| Aman Sonthalia | Promoter | 1.43% | — |
| Richa Sonthalia | Promoter Group | 5.71% | — |
| Dolly Sonthalia | Promoter Group | 0.71% | — |
| Vignesh Sonthalia | Promoter Group | 0.71% | — |
| Shreya Sonthalia | Promoter Group | 0.00% | — |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.