Sundrex Oil Company IPO

About Sundrex Oil Company IPO

The offer consists of a fresh issue. The fresh issue will include 37,50,400 shares (aggregating up to ₹32.25 crores). The total number of shares and aggregate amount is 37,50,400 shares (aggregating up to ₹32.25 crores).

Sundrex Oil Company price band is set at ₹81 to ₹86 per share. The lot size for an application is 1,600 Shares. The minimum amount of investment required by an individual investor (retail) is ₹2,75,200.00 (3,200 shares) (based on upper price). The minimum lot size investment for HNI is 3 lots (4,800 shares), amounting to ₹4,12,800.

The Sundrex Oil Company IPO opens on Monday, Dec 22, 2025 and closes on Wednesday, Dec 24, 2025. The allotment of shares will take place on Friday, Dec 26, 2025. The credit of shares to the demat account will take place on Monday, Dec 29, 2025. The initiation of refunds will take place on Monday, Dec 29, 2025. The listing of shares will take place on Tuesday, Dec 30, 2025.

Sundrex Oil Company is a manufacturer and wholesaler of lubricants, greases, and a wide range of industrial products, serving both B2B and B2C markets across India. Their portfolio includes the production of industrial lubricant, automotive lubricant, and specialty products (co). They are manufacturers of high-performance lubricants, greases, metalworking fluids, bituminous products, IS: 335 Certified Transformer Oils, and other specialized formulations.

Objective of Sundrex Oil Company IPO

• To meet the working capital requirements.
• To meet capital expenditure.
• Prepayment and repayment of all or a portion of certain secured and unsecured loans.
• General corporate purpose.
• To meet the offer expenses.

Industry Outlook

The consistent growth of the lubricant market can be attributed to several factors, including the rising industrialization in emerging economies, the increasing vehicle fleet worldwide, and the ongoing technological advancements in lubricant formulations. The India Lubricants Market size is estimated at 287 crore Liters in 2024, and is expected to reach 315 crore Liters by 2026, growing at a CAGR of 4.76% during the forecast period (2024-2026). India Industrial Lubricant Market was valued at USD 725 crores in 2024 and is expected to reach USD 922 crores by 2030 with a CAGR of 4.28%. The India Automotive Lubricants Market size is estimated at 10 crore tons in 2024, and is expected to reach 15 crore tons by 2029, growing at a CAGR of 2% during the forecast period (2024-2029).

Sundrex Oil Company Information

Sundrex Oil Company is a manufacturer and wholesaler of lubricants, greases, and a wide range of industrial products, serving both B2B and B2C markets across India. Their portfolio includes the production of industrial lubricants, automotive lubricants, and specialty products. They manufacture high-performance lubricants, greases, metalworking fluids, bituminous products, IS: 335 certified transformer oils, and other specialised formulations. Their lubricant business primarily focuses on the production and sale of various industrial lubricants, including hydraulic oils, transmission oils, and gear oils, which are essential for a wide range of industrial machinery applications. These products contribute significantly to their revenue, reflecting the breadth and demand for their offerings. In addition to manufacturing products under their brand, they offer contract manufacturing services, including toll blending and contract packaging. These services enable businesses to outsource the production of lubricants and oils tailored to their specific formulations, eliminating the need for investment in blending facilities, raw materials, and operational overheads. They also provide private labelling services, allowing companies to market and sell premium-quality products under their brand name.

Strengths of Sundrex Oil Company

• In-House manufacturing & state-of-the-art quality control.
• Strategic location advantage.
• Export potential.
• Direct sales model & diversified client base.
• Experienced management & skilled workforce.

Risks of Sundrex Oil Company

• Dependence on certain key customers.
• Dependence on suppliers for uninterrupted supply of raw-materials.
• Fluctuations in raw material prices.
• Sudden regulatory changes.
• Global trade and tariff risks.

Note: Industry Peer may be modified for finalization of Issue Price before filing Prospectus with ROC * Sourced from Annual Reports, Audited Financial taken from, BSE and NSE. # Calculated on annualized basis for the purpose of better peer comparison.

Notes

• Considering the nature and turnover of business of the Company, the peers are not strictly comparable. However, the same have been included for broader comparison.

• The figures for Sundrex Oil Company are based on the restated consolidated results for the stub period ended June 30, 2025.

• The figures for the Arabian Petroleum Ltd are based on audited results for the period ended March 31, 2025 and for Current Market Price (CMP) is the closing price of respective scrip as on September 26,2025.

Anchor Investor Bidding Date: 19th December, 2025

*The Anchor Investor Bid/Offer Period shall be one Working Day prior to the Bid/Issue Opening Date

Registrar: Cameo Corporate Services Limited Book running lead managers: Affinity Global Capital Market Private Limited

Sundrex Oil Company Business Model

The company earns its revenue through the following sources:

• Manufacturing and wholesaling lubricants, greases, and a wide range of industrial products, serving both B2B and B2C markets across India.
• Offering contract manufacturing services, including toll blending and contract packaging.
• Providing private labelling services, enabling companies to market and sell premium-quality products under their brand name.

Sundrex Oil Company Growth Trajectory

The company’s Total Income grew to ₹69.119 crores in FY2025 from ₹49.192 crores in FY2024.

Their Profit After Tax increased to ₹5.445 crores in FY2025 from ₹2.565 crores in FY2024.

EBITDA also increased to ₹7.050 crores in FY2025 from ₹4.139 crores in FY2024.

Sundrex Oil Company Market Position

Even though the company operates on a PAN-India basis, a significant portion of the revenue is concentrated in a few key states, primarily in the eastern region of India, including West Bengal, Jharkhand, and Odisha.

As of 31 March 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹69.119 crores, ₹5.445 crores, and ₹7.050 crores, respectively.

How to apply for Sundrex Oil Company IPO?

• Step 1: Log in to your Kotak Neo Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.