Sundrex Oil Company IPO subscribed 1.39 times so far on Day 3: Check allotment date and steps

Sundrex Oil Company IPO: The initial public offering of industrial and automotive lubricants maker Sundrex Oil Company has been subscribed 1.39 times so far on the final day of bidding on Wednesday, December 24.

It has received bids for 51,95,200 shares as against 37,50,400 shares on offer, according to the National Stock Exchange (NSE) data until 1:43 pm.

The ₹32.25 crore initial share sale is exclusively a fresh issuance of 37,50,400 shares. With a price band of ₹81 to ₹86 per share, the minimum investment for an individual investor is 3,200 shares.

The fresh issue proceeds will be utilised for working capital needs, capital expenditure requirements, debt repayment, general corporate purposes and to meet offer expenses.

"We believe that the listing of equity shares will enhance our brand name and provide liquidity to the existing shareholders. Listing will also provide a public market for the equity shares in India," the firm said in its red herring prospectus.

Sundrex Oil Company, established in 2010, is a manufacturer and wholesaler of high-performance industrial and automotive lubricants, greases, and speciality products.

Sundrex Oil Company IPO: Allotment and listing date

The Sundrex Oil Company IPO allotment will be finalised on Friday, December 26. The listing on the NSE SME platform Emerge will take place on Tuesday, December 30.

How to check Sundrex Oil Company IPO allotment status on NSE

• Go to this page: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Select the ‘Equity & SME IPO bid details’ option
• Pick ‘SOCL’ from the 'Select Symbol' list
• Fill in your PAN details and application number
• Press the 'Submit' button

Steps to check Sundrex Oil Company IPO allotment status on Cameo Corporate Services

• Visit this page: https://ipo.cameoindia.com/
• Select any of the 3 links
• Choose 'Sundrex Oil Company' from the dropdown list
• Enter either PAN, DP-Client ID or Application Number
• Fill in the captcha and click on 'Submit'

Sundrex Oil Company IPO GMP

According to investorgain.com and media reports, Sundrex Oil Company's unlisted shares are reflecting a grey market premium of 0% against the upper price band of ₹86.