Incorporated in 2015, Sungarner Energies Limited is engaged in the business of manufacturing Solar Inverters, Online UPS Systems, EV Chargers, and Lead Acid Batteries.
SEL started as a Design Engineering and Solar EPC company and gradually diversified into Manufacturing Power Electronics and Energy Storage Products. The company produces lead acid batteries of varying capacities in the range from 12 Volts 40 ampere-hours to 12 volts 300 ampere-hours.
SunGarner has also obtained a WMI code for the manufacturing of EV Vehicles which is currently in the prototype stage, awaiting full-scale manufacturing of EV Vehicles.
SunGarner's main clientele comes from the states of Haryana, UP, Bihar, Rajasthan, and Assam. It has 6 service Centres in India - Delhi, UP Haryana, Bihar Assam, and Bengal. The company is in the process of expanding its footprint by appointing an additional 500 Franchisees to cover all major Districts of India by the end of 2025. Also, SunGarner has also started exports in the last 2 years and has exported its products to Nigeria, Lebanon, Nepal, Dubai and Bhutan.
| Purpose | Amount (₹ Cr) |
|---|---|
| Working Capital Requirement | ₹4 |
| General Corporate Purposes | ₹1 |
| Metric | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Total Assets | 1,015 | 536 | 318 |
| Revenue | 1,765 | 798 | 536 |
| PAT | 74 | 58 | 16 |
| Net Worth | 321 | 156 | 99 |
| Reserves | 153 | 110 | 52 |
| Total Borrowing | 424 | 227 | 104 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| NII / HNI | — | 291,200 (46%) | — |
| Retail (RII) | — | 291,200 (46%) | — |
| Market Maker | — | 57,600 (9%) | — |
| Total | — | 640,000 (100%) | — |
* Amount calculated at upper price band (₹83) · ** Total includes all investor categories
- 1 Initiation of Refund 29 Aug 2023
- 2 Credit of Shares to Demat 30 Aug 2023
- Retail allocation is strong at 46% of the total offering.
- HNI/NII demand is strong at 46%.
- The IPO P/E of 13x reflects a strong valuation relative to typical market ranges.
- Pre-issue EPS of ₹6.
This IPO shows strong fundamentals and healthy investor demand. Research the business model and compare with sector peers before applying.
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