Sungarner Share Price | Strong Trading and Listing on NSE-Emerge Index
Sungarner Energy Limited Company shares have recently been listed on the Indian stock market. The power generation company’s shares are trading strongly on the NSE-Emerge Index in the SME Platform. On the second day of listing, the company’s shares were trading in the upper circuit, reaching a price of Rs.275. This marks a significant increase from the IPO issue price of Rs 83, providing investors with a 331 percent gain.
Oversubscribed IPO and Capital Raised
Sungarner Energy Limited successfully raised 5.31 crore capital through its IPO, with the retail investor quota oversubscribed 193 times. The entire IPO was oversubscribed by a total of 152.40 times. The IPO was open for investment from August 21 to August 23, 2023. Fast Track Finsec Pvt Ltd and Skyline Financial Services Pvt Ltd were appointed as the lead manager and registrar respectively for Sungarner Energy Ltd’s IPO.
Diversified Business Operations
Sungarner Energy Limited is primarily engaged in providing design and engineering services for solar power, UPS, batteries, inverters, and solar panels. The company has also acquired the WMI code to manufacture electric vehicles, although vehicle production is still in the initial stage. In the financial year ended March 2023, the company generated a revenue of Rs 1.68 crore, with a net profit of Rs 74.30 lakh.
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