Sungarner Energies
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 21 Aug 2023 – 23 Aug 2023
- Listing date
- 31 Aug 2023
- Face value
- ₹10 per share
- Issue price
- ₹83 per share
- Lot size
- 1,600 shares
- Issue type
- Fixed Price issue
- Total issue size
- ₹5.31 Cr
- Market cap at offer price
- ₹19.25 Cr
- Promoter holding
- 84.94% → 61.49% pre-issue → post-issue
- ISIN
- INE0O3O01017
- Registrar
- Skyline Financial Services Pvt.Ltd.
- Lead managers
- Fast Track Finsec Pvt.Ltd.
- Registered office
- 1/5322, S/F, Plot No.19A, Gali No.13, Balbir Nagar Ext., New Delhi
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 57,600 | — | — |
Application size
Minimum 1,600 shares per lot, in multiples, at ₹83
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,600 | ₹1,32,800 |
| S-HNI (min) | 2 | 3,200 | ₹2,65,600 |
| S-HNI (max) | 7 | 11,200 | ₹9,29,600 |
| B-HNI (min) | 8 | 12,800 | ₹10,62,400 |
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.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 6.35 | — |
| P/E (×) | 13.07 | — |
| Market cap | — | ₹19.25 Cr |
Key performance indicators
- Return on net worth
- 23.18%
- ROCE
- 25.28%
- Debt / equity
- 1.32
- PAT margin
- 4.29%
- NAV per share
- ₹19.09
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Sungarner Energies
Sungarner Energies Limited ('SEL') was incorporated on April 30, 2015 as a private limited company in Delhi and was converted into a public limited company on September 30, 2022 (fresh certificate of incorporation dated November 17, 2022). Founded and promoted by first-generation entrepreneur Mr. Sumit Tiwari (previously engaged with Tata BP Solar, Emerson Network Power and Delta), SEL began as a design-engineering and solar EPC company and gradually diversified into manufacturing of power electronics and energy-storage products: today it manufactures solar inverters (MPPT and PWM ranges), online UPS systems, EV chargers and lead-acid batteries (12V 40Ah to 300Ah) at its Greater Noida plant, holds a WMI code for EV vehicles (prototype developed only, full-scale EV manufacturing not started), and runs an in-house R&D facility established in 2017, with its first in-house product unit set up in 2018. Beyond manufacturing, the company trades ready-made solar panels and inverter batteries sold under the SunGarner brand through a distribution network in Haryana, UP, Bihar, Rajasthan and Assam, operates six service centres (Delhi, UP, Haryana, Bihar, Assam, Bengal), and exports to Nigeria, Lebanon, Nepal, Dubai and Bhutan. Its Solar EPC division has commissioned more than 50 large solar projects over eight years for customers such as Interglobe Enterprises, DLF, Jubilant Life Sciences, Eli Lilly, Modi Xerox and ITC Hotels, including the largest solar power project in Bhutan (completed 2021, UNDP-funded, for Bhutan Power Corporation). In FY2023 the company reported total revenue of Rs. 1,765.33 Lakhs and profit after tax of Rs. 74.31 Lakhs, and is raising Rs. 531.20 Lakhs through a 100% fresh, fixed-price IPO on the NSE Emerge platform.
Company Analysis
from RHPSungarner Energies Limited is a New Delhi-headquartered power-solutions company spanning the solar/renewable energy, power electronics and battery/energy-storage industries — it manufactures solar inverters, online UPS systems, EV chargers and lead-acid batteries, trades solar panels, and provides solar EPC, power-generation and O&M services.
Sungarner Energies Limited ('SEL') was incorporated on April 30, 2015 as a private limited company in Delhi and was converted into a public limited company on September 30, 2022 (fresh certificate of incorporation dated November 17, 2022). Founded and promoted by first-generation entrepreneur Mr. Sumit Tiwari (previously engaged with Tata BP Solar, Emerson Network Power and Delta), SEL began as a design-engineering and solar EPC company and gradually diversified into manufacturing of power electronics and energy-storage products: today it manufactures solar inverters (MPPT and PWM ranges), online UPS systems, EV chargers and lead-acid batteries (12V 40Ah to 300Ah) at its Greater Noida plant, holds a WMI code for EV vehicles (prototype developed only, full-scale EV manufacturing not started), and runs an in-house R&D facility established in 2017, with its first in-house product unit set up in 2018. Beyond manufacturing, the company trades ready-made solar panels and inverter batteries sold under the SunGarner brand through a distribution network in Haryana, UP, Bihar, Rajasthan and Assam, operates six service centres (Delhi, UP, Haryana, Bihar, Assam, Bengal), and exports to Nigeria, Lebanon, Nepal, Dubai and Bhutan. Its Solar EPC division has commissioned more than 50 large solar projects over eight years for customers such as Interglobe Enterprises, DLF, Jubilant Life Sciences, Eli Lilly, Modi Xerox and ITC Hotels, including the largest solar power project in Bhutan (completed 2021, UNDP-funded, for Bhutan Power Corporation). In FY2023 the company reported total revenue of Rs. 1,765.33 Lakhs and profit after tax of Rs. 74.31 Lakhs, and is raising Rs. 531.20 Lakhs through a 100% fresh, fixed-price IPO on the NSE Emerge platform.
Objects of the Issue
- To meet the working capital requirements of the Company Rs. 350.00 Lakhs p.69
- General corporate purposes Rs. 111.20 Lakhs p.69
- Issue-related expenses Rs. 70.00 Lakhs p.69
Issue Structure
- Total Issue
- Rs. 531.20 Lakhs (6,40,000 Equity Shares of face value Rs. 10/- each at Rs. 83/- per Equity Share)
- Fresh Issue
- 6,40,000 Equity Shares of face value Rs. 10/- each at a price of Rs. 83/- each aggregating to Rs. 531.20 Lakhs (entire issue is a fresh issue)
- Offer for Sale
- Nil / Not Applicable
- Price Band
- Not applicable – 100% Fixed Price Issue at Rs. 83/- per Equity Share (8 times face value)
- Face Value
- Rs. 10/- each
Business Model
The company earns revenue from three streams disclosed in its product-wise revenue breakup (FY2023): (1) Manufacturing — sale of solar inverters produced at its own plant (Rs. 805.92 Lakhs); (2) Trading — sale of ready-made solar panels procured from other manufacturers (Rs. 48.37 Lakhs) and inverter batteries marketed under the SunGarner brand through distributors/dealers (Rs. 297.92 Lakhs); and (3) Services — solar power plant EPC projects (Rs. 309.69 Lakhs), solar power generation systems (Rs. 142.35 Lakhs), operation & maintenance (Rs. 63.52 Lakhs) and technical services (Rs. 92.39 Lakhs). Revenue from operations in FY2023 was Rs. 1,731.80 Lakhs.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Sumit Tiwari | Promoter (Managing Director) | 73.45% | 53.17% |
| Snigdha Tiwari | Promoter (Executive Director) | 11.47% | 8.30% |
Leadership
Auto-extracted from the company's RHP 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 RHP before relying on it.