Sundrex Oil's SME IPO was fully subscribed by Dec. 24, 2025, with strong retail demand.

Sundrex Oil Company Limited's SME IPO, offering 37.5 lakh shares for ₹32.25 crore at ₹81–86 per share, was fully subscribed by December 24, 2025, with overall demand at 1.15 times. The retail portion saw 1.45 times oversubscription, while Qualified Institutional Buyers were fully subscribed and Non-Institutional Investors at 0.80 times. The company, which makes industrial and automotive lubricants for B2B clients in India and exports to South Asian and UAE markets, plans to use proceeds for working capital, capital expenditure, debt repayment, and general corporate purposes. The IPO, managed by Affinity Global Capital and listed on NSE Emerge, is promoted by the Sonthalia brothers.