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Home
InvestmentsIPOSundrex Oil Company IPO

Sundrex Oil Company IPO

SME

Open Date

22 Dec 2025

Close Date

24 Dec 2025

Min Investment

₹ 2,59,200

Max Investment

₹ 5,00,000

Lot Size

1,600

Issue Size

₹ 32.25 Cr

Price Range

₹ 81 - ₹ 86
status

IPO Closed Now.

IPO Timeline
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IPO Offer Start
22 Dec 2025
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IPO Offer Ends
24 Dec 2025
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Allotment Finalisation
26 Dec 2025
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Refund Initialisation
29 Dec 2025
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Non-Institutional Buyers (sHNI)
29 Dec 2025
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Listing of Shares
29 Dec 2025
IPO Subscription Details as on 28 Dec 2025, 06:19 PM
Qualified Instituational Buyers (QiB)
1 x
Retail
1.84 x
Total
1.53 x
Non-Institutional Buyer (bHNI)
1.09 x
Non-Institutional Buyer (sHNI)
1.08 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
Sundrex Oil Company Limited is an ISO 9001:2015 certified manufacturer and wholesaler of lubricants, greases, and industrial products serving B2B and B2C markets across India and foreign countries including Nepal, Bhutan, Bangladesh and UAE. The company operates with 99% revenue from B2B segment and 1% from B2C segment, producing industrial lubricants, automotive lubricants, and specialty products including high-performance lubricants, greases, metalworking fluids, bituminous products, IS: 335 Certified Transformer Oils, and specialized formulations. The company also provides contract manufacturing services including toll blending, contract packaging, and private labeling services to enable businesses to outsource production without investing in manufacturing infrastructure.
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Founded In

2010

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CEO

Shashank Sonthalia

Financials of Sundrex Oil Company IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2023Mar 2024Mar 2025
Operating Revenue27.4948.3167.20
Other Income0.300.881.92
Total Income
27.7949.1969.12
Total Expenses
27.2445.7462.07
Profit Before Tax0.553.457.05
Total Profit
0.402.565.44

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The company intends to utilize funds to support incremental business requirements and fund incremental working capital needs for fiscal years 2026 and 2027. This will lead to increased profitability and achievement of proposed targets as per the business plan.21
The company plans to invest in long-term growth projects including purchase of stainless-steel oil storage tanks, air handling system with GI ducting, and oil polishing unit to enhance efficiency, expand production, and align with environmental and regulatory standards.1
The company proposes to utilize funds towards pre-payment or scheduled repayment of secured and unsecured loans to reduce existing borrowings, maintain favorable debt-equity ratio and enable utilization of internal accruals for business growth and expansion.3
The company intends to deploy proceeds for strategic initiatives, funding growth opportunities, strengthening marketing capabilities, brand building exercises, meeting ongoing corporate contingencies, and other purposes as approved by the Board subject to applicable law.-
The company will utilize funds to meet offer-related expenses including offer management fees, underwriting and selling commissions, printing and distribution expenses, legal fees, advertisement expenses, registrar's fees, depository fees and listing fees.-
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  • In-House Manufacturing & State-of-the-Art Quality Control: The company operates an in-house manufacturing plant with production capacity of 100 KL per day for white oil, 60 KL per day for lubricants, and 9 MT per day for greases on double-shift schedule, supported by fully-equipped laboratory with 50 instruments for quality testing.
  • Strategic Location Advantage: The company's factory is strategically located within 100 km of Haldia Refinery, 35 km from IOCL Lubricants plant, and 30 km from HPCL Lubricants plant, with transportation costs under Rs 0.80/L and proximity to Kolkata Port (30 km) and Haldia Port (120 km).
  • Export Potential: The company has strong export capabilities with connectivity to Haldia and Kolkata Ports enabling access to Southeast Asia and Middle East markets, with Bangladesh revenue growing from Rs 3.96 lakhs in 2023-24 to Rs 17.06 lakhs in 2024-25.
  • Direct Sales Model & Diversified Client Base: The company's direct sales approach eliminates channel markup while serving 532 customers in 2024-25 (up from 390 in 2021-22), with top 10 customers representing 41.70% of total revenue in 2024-25, down from 52.12% in 2022-23.
  • Experienced Management & Skilled Workforce: The company benefits from leadership team with extensive experience including Mahesh Sonthalia (40 years), Radhagobinda Chowdhury (43 years), and skilled technical workforce of chemists, engineers, and production experts sourced locally to control labor costs.
  • Focus on Vertical Integration and Product Line Expansion: The company has expanded manufacturing facilities across lubricating oils, greases, white oils, and transformer oils with own packing lines, while expanding approved products on GeM from 5 in 2022-23 to 516 in April-June 2025.

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