Sunita Tools SME IPO: Shares list at 7% premium to issue price on BSE SME

Soon after listing, Sunita Tools stock hit 5 percent lower circuit

Sunita Tools shares listed at Rs 155 on BSE SME, a 6.8 percent premium to issue price of Rs 145. Soon after listing, the stock hit the 5 percent lower circuit. At 10.30 am, the stock was quoting at Rs 147.25.

The company manufactures mold base and machining parts for automotive, pharmaceutical, electronics, consumer goods, and manufacturing sectors.

As per the company's prospectus, it has a manufacturing unit in Vasai, Mumbai, with a capacity to produce large dimensional products ranging from 200x200 mm to 4000x2000 mm up to 30 tones in weight.

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The issue was subscribed 13.24 times. At the issue price, the company's market capitalisation worked out to be Rs 81.56 crore and trailing price-to-earnings ratio was 16.88x.

In FY23, the company's revenue jumped 59 percent year-on-year to Rs 14.17 crore. Its net profit grew to Rs 3.37 crore from Rs 81 lakh in FY22. Its net worth stood at Rs 3.20 crore, however, it was in the negative in FY21 and FY20.

Aryaman Financial Services Limited was the book-running lead manager of the Sunita Tools IPO, while Kfin Technologies Limited was the registrar for the issue.