Sunrays Engineers Files DRHP for ₹ Up to 32.64 Lakh Shares IPO on NSE Emerge

Gurgaon, February 16, 2026: Sunrays Engineers Limited has filed its Draft Red Herring Prospectus for an initial public offering comprising a fresh issue of up to 32,64,000 equity shares of face value ₹10 each. The issue is proposed to be listed on the NSE Emerge platform.
The IPO is a 100% book-built issue, with no offer for sale component. Up to 1,68,000 equity shares will be reserved for the market maker portion, while the balance will constitute the net issue to the public.

Company Overview​

Incorporated in July 2005 and converted into a public limited company in September 2025, Sunrays Engineers operates from its registered office at IMT Manesar, Gurgaon, Haryana.
The company has nearly two decades of experience in manufacturing customized aluminium high-pressure die-cast (HPDC) components for automotive and non-automotive applications. It functions as a B2B manufacturer supplying to original equipment manufacturers based on technical specifications and performance requirements.

Product Portfolio​

Automotive Segment

• Vacuum brake parts
• Air suction valves for two-wheelers
• Oil filters for three and four-wheelers
• Gear shift components

Non-Automotive Segment

• Engine and genset components
• Heat sinks for street and outdoor LED lighting

Manufacturing operations are supported by an in-house engineering team and established quality management systems.

Financial Performance​

Key Performance Indicators​

*EPS for the six-month period has not been annualised.
The company reported steady revenue growth from FY23 to FY25, with revenue rising from ₹5,802.00 lakh in FY23 to ₹9,034.92 lakh in FY25. Profit after tax more than doubled in FY24 compared to FY23 and remained stable in FY25.

Cash Flow Position​

Operating cash flows remained robust in FY25 and the first half of FY26, while capital expenditure led to negative investing cash flows in recent periods.

Capital Structure Update​

Subsequent to the last audited period, the company allotted 85,88,400 equity shares through a bonus issue in a 17:1 ratio in December 2025. EPS figures have been adjusted to reflect the bonus issuance.
Post-issue paid-up capital is expected to remain within the eligibility threshold of the SME platform.

Management and Promoters​

The company is promoted by:

• Anmol Ratan Arora
• Lily Arora
• Richa Ratan Arora

Anmol Ratan Arora serves as Managing Director and Chairperson. The company’s statutory auditor is V P G S & Co., Chartered Accountants.

Listing and Lead Managers​

The equity shares are proposed to be listed on the NSE Emerge platform. Share India Capital Services Private Limited is the book running lead manager to the issue, while Skyline Financial Services Private Limited is acting as registrar.

About Sunrays Engineers Limited​

Sunrays Engineers Limited is a Haryana-based manufacturer of customized aluminium HPDC components catering to automotive and non-automotive OEMs. Incorporated in 2005, the company operates as a B2B supplier with a diversified product portfolio across braking systems, engine components, transmission parts, and lighting heat sinks. The proposed IPO marks its first public market offering on the SME platform.