Sungarner Energies IPO GMP Today, Dates & More Details

sungarner energies ipo

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Check out all the details about Sungarner Energies Limited IPO. Here’s everything that you need to make a decision whether to go with the IPO or not.

There’s so much to know, for now, let’s start with the objectives of Sungarner Energies IPO.

Objectives of Sungarner Energies IPO

Sungarner Energies Limited intends to utilize the Net Proceeds for the following objects:

Sr. No.ParticularsEstimated Amount% of Total Issue SizeAmount to be Financed from Issue Proceeds
ATo meet Working Capital Requirements278.0062.05%278.00
BGeneral corporate purposes100.0022.32%100.00
CIssue related expenses70.0015.63%70.00
TotalIPO Proceeds448.00100.00%448.00
*The amount utilized for general corporate purposes shall not exceed 25% of the gross proceeds of the Issue.

Sungarner Energies IPO Details

IPO DateAug 21, 2023 to Aug 23, 2023
Listing Date31 August 2023
Face Value₹10 per share
Price₹83 per share
Lot Size1600 Shares
Total Issue Size640,000 shares
(aggregating up to ₹5.31 Cr)
Fresh Issue640,000 shares
(aggregating up to ₹5.31 Cr)
Issue TypeFixed Price Issue IPO
Listing AtNSE SME
Share holding pre issue1,678,750
Share holding post issue2,318,750

Sungarner Energies IPO Tentative Timetable

IPO Open DateMonday, 21 August 2023
IPO Close DateWednesday, 23 August 2023
Basis of AllotmentMonday, 28 August 2023
Initiation of RefundsTuesday, 29 August 2023
Credit of Shares to DematWednesday, 30 August 2023
Listing DateThursday, 31 August 2023
Cut-off time for UPI mandate confirmation5 PM on Aug 23, 2023

Sungarner Energies IPO Reservation

Other Shares Offered50%
Retail Shares OfferedNot less than 50.00% of the Offer

Sungarner Energies IPO Lot Size

Retail (Min)11600₹1,32,800
Retail (Max)11600₹1,32,800
HNI (Min)23,200₹2,65,600

Sungarner Energies IPO Financials

ParticularsFor the period ended 30th November 2022For the Year ended 31st March 2022For the Year ended 31st March 2021For the Year ended 31st March 2020
Share Capital167.8846.5046.5046.50
Net Worth284.62156.2398.7382.83
Total Revenue1201.01797.66536.43436.13
Profit after Tax38.3957.5015.902.54
EPS Basic and Diluted3.2812.363.420.55
NAV per Equity Share16.9533.6021.2317.81
Total borrowings
– Long Term14.8556.6025.4612.05
– Short Term192.08170.0278.3275.76
– Amount in ₹ Lakhs

Sungarner Energies IPO Promoters

Mr. Sumit Tiwari and Mrs. Snigdha Tiwari are the promoters of Sungarner Energies Limited.


Here’s their shareholding in the company:

Pre Issue Share Holding84.94%
Post Issue Share Holding61.49%
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Sungarner Energies Limited Company Background

  • Company Overview: Sungarner Energies Limited
    • Founded: 2015
    • Core Business: Manufacturing Solar Inverters, Online UPS Systems, EV Chargers, and Lead Acid Batteries
    • Initial Focus: Design Engineering and Solar EPC
    • Diversification: Expanded into Manufacturing Power Electronics and Energy Storage Products
  • Product Range: Lead Acid Batteries
    • Capacities: 12V, 40Ah to 12V, 300Ah
  • EV Initiative:
    • WMI Code Obtained for EV Vehicle Manufacturing
    • Current Stage: Prototype; Awaiting Full-Scale Manufacturing
  • Clientele:
    • Main Markets: Haryana, UP, Bihar, Rajasthan, Assam
  • Service Centers:
    • 6 Centers Across India: Delhi, UP, Haryana, Bihar, Assam, Bengal
  • Expansion Plans:
    • Target: Appoint 500 Franchisees by 2025
    • Coverage: All Major Districts of India
  • Exports:
    • Recent Venture: Exports Initiated in the Last 2 Years
    • Exported to: Nigeria, Lebanon, Nepal, Dubai, Bhutan

Sungarner Energies Limited Industry Overview

Solar Power Industry in India:

  • Rising demand due to economic growth and per capita electricity consumption catching up with developed economies.
  • Focus on renewable energy due to climate commitments and limited fossil fuels.
  • India’s solar power capacity: 63.303 GWAC (Dec 2022), ranking fourth globally in 2021.
  • Decreasing costs driving interest in solar projects, supported by feed-in tariffs and technological advancements.

Inverter Market:

  • High demand, creating opportunities for solar inverter manufacturers.
  • National Solar Mission boosting PV market, leading to increased production.
  • Growing usage of power inverters in residential sector due to urbanization, electronics ownership, and power cuts.
  • India power inverter market value: USD 4.20 billion (2021), expected to reach nearly USD 9.81 billion by 2027 (CAGR 14.6%).

Battery Industry in India:

  • Battery market segmented by technology and application.
  • Global battery market valued at USD 104.31 billion (2022), CAGR of 15.8% (2023-2030).
  • Lead-acid batteries reliable for critical applications, while lithium-ion batteries gaining traction for higher energy density.
  • U.S. market growth due to government policies and electric vehicle and consumer electronics sales.

Electrical Accessories Market in India:

  • India’s electrical materials market valued at USD 5969.13 million (FY2020), CAGR 17.88% (FY2020-2026).
  • Construction boom and industrial expansion driving demand for electrical materials.
  • Innovations and sustainable technologies contributing to market growth.
  • Industrialization creating opportunities for electrical materials in various sectors.

India’s Power Sector:

  • Ministry of Power’s efforts for universal access to affordable, sustainable power.
  • Diverse power generation sources, including conventional and non-conventional.
  • Rapidly increasing electricity demand requires significant capacity expansion.
  • Focus on infrastructure for economic growth and welfare, achieving universal household electrification.

Sungarner Energies IPO GMP Today

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