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Sundrex Oil IPO opens with flat grey market signals
Sundrex Oil’s IPO opened with a flat grey market premium, reflecting cautious sentiment as the lubricant maker targets B2B industrial and automotive demand.
The initial public offering of opened for subscription on Monday amid muted pre-listing expectations, as the grey market premium remained at zero, indicating cautious sentiment on listing gains. The company operates in the manufacturing and wholesale of industrial and automotive lubricants, greases, and specialty oils. Its product range includes hydraulic, gear, diesel engine, transformer, and refrigeration oils, catering primarily to B2B customers across India and select overseas markets.