Copper scrap is recycled by Sunlite Recycling, which specializes in producing copper rods, wires, earthing wires, earthing strips, conductors, and wire rods. On August 20, Sunlite Recycling Industries’ shares made a strong debut on the stock market. At that time, the share price was Rs 199.5, which was ninety percent more than the issue price of Rs 105 on the NSE SME platform.
The listing profits exceeded predictions from the grey market, where shares were trading more than 75 percent above market value. Shares trade in the grey market, an unofficial ecosystem, well in advance of the offer’s subscription opening and continue to do so until the day of listing.
Focused On Recycle Scrap
A record 282 subscriptions were made to the Rs 30.24-crore public offer, a new issue of 29 lakh shares, indicating strong investor interest. High net worth individuals or non-institutional investors led the way, purchasing 584 times their allocated share.
Retail investors bought more than 250 times after that. Qualified institutional buyers, or QIBs, have bid more than 100 times the amount allotted to them. Since its founding in 2012, Sunlite Recycling has focused on using recycled copper scrap to create copper rods, wires, conductors, earthing wires, and earthing strips. The electricity generating, transmission, distribution, and electronics sectors are served by these goods.
