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Siyaram Recycling Industries IPO is a book build issue of ₹22.96 crores. The issue is entirely a fresh issue of 0.50 crore shares of ₹22.96 crore.
Siyaram Recycling Industries IPO bidding started from Dec 14, 2023 and ended on Dec 18, 2023. The allotment for Siyaram Recycling Industries IPO was finalized on Dec 19, 2023. The shares got listed on BSE SME on Dec 21, 2023.
Siyaram Recycling Industries IPO price band is set at ₹46.00 per share . The lot size for an application is 3,000. The minimum amount of investment required by an retail is ₹1,29,000 (3000 shares). The minimum lot size investment for HNI is 2 lots (6,000 shares), amounting to ₹2,76,000.
Hem Securities Ltd. is the book running lead manager and Cameo Corporate Services Ltd. is the registrar of the issue. The market maker of the company is Hem Finlease Pvt.Ltd..
Refer to Siyaram Recycling Industries IPO RHP for detailed Information.
| IPO Date | December 14, 2023 to December 18, 2023 |
| Listing Date | December 21, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹43 to ₹46 per share |
| Issue Price Final | ₹46 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 49,92,000 shares (aggregating up to ₹22.96 Cr) |
| Reserved for Market Maker | 2,52,000 shares Hem Finlease Pvt.Ltd. (aggregating up to ₹1.16 Cr) |
| Net Offered to Public | 47,40,000 shares (aggregating up to ₹21.80 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,38,05,500 shares |
| Share Holding Post Issue | 1,87,97,500 shares |
Siyaram Recycling IPO offers total 49,92,000 shares. Out of which 23,70,000 (47.48%) allocated to QIB, 9,48,000 (18.99%) allocated to QIB, 7,11,000 (14.24%) allocated to NII, 16,59,000 (33.23%) allocated to RII and 14,22,000 (28.49%) allocated to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,52,000 (5.05%) |
| QIB Shares Offered | 23,70,000 (47.48%) |
| − Anchor Investor Shares Offered | 14,22,000 (28.49%) |
| − QIB (Ex. Anchor) Shares Offered | 9,48,000 (18.99%) |
| NII (HNI) Shares Offered | 7,11,000 (14.24%) |
| Retail Shares Offered | 16,59,000 (33.23%) |
| Total Shares Offered | 49,92,000 (100.00%) |
Siyaram Recycling Industries IPO raises ₹6.54 crore from anchor investors. Siyaram Recycling Industries IPO Anchor bid date is December 13, 2023. Siyaram Recycling Industries IPO Anchor Investors list
| Bid Date | December 13, 2023 |
| Shares Offered | 14,22,000 |
| Anchor Portion Size (In Cr.) | 6.54 |
| Anchor lock-in period end date for 50% shares (30 Days) | January 18, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | March 18, 2024 |
Siyaram Recycling Industries IPO opens on December 14, 2023, and closes on December 18, 2023.
| IPO Open Date | Thu, Dec 14, 2023 |
| IPO Close Date | Mon, Dec 18, 2023 |
| Tentative Allotment | Tue, Dec 19, 2023 |
| Initiation of Refunds | Wed, Dec 20, 2023 |
| Credit of Shares to Demat | Wed, Dec 20, 2023 |
| Tentative Listing Date | Thu, Dec 21, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Dec 18, 2023 |
Investors can bid for a minimum of 3,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,38,000 |
| Retail (Max) | 1 | 3,000 | ₹1,38,000 |
| HNI (Min) | 2 | 6,000 | ₹2,76,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2007, Siyaram Recycling Industries Ltd's main activities include the separation of brass scrap, the manufacture of brass ingots, billets and rods as well as the production of brass-based components, in particular parts for sanitary installations. All these activities take place in three plants in Jamnagar district, a major centre for brass components.
The production of brass billets and ingots, brass rods and plumbing parts is carried out in Unit I, which occupies an area of 4970 square meters. In Unit II, which covers 3629 square meters, brass sanitary parts are manufactured. Finally, Unit III, which covers an area of 3346 square meters, is mainly used for the separation of scrap. The area of 366 square meters is primarily used for the separation of scrap.
In 2023, revenue from operations amounted to 492.87 million. Around 67.06% of this revenue was generated on the domestic market, while 32.94% was generated on international markets.
The company distributes its products in around 18 states and Union Territories in India, with the majority of its revenue coming from Gujarat. The company's products are exported to countries such as China, Germany, Belgium and Oman.
In FY2023, Gujarat accounted for 56.40% of operating revenue, while Madhya Pradesh contributed 5.25%, Punjab 2.03% and Rajasthan 1.41%.
Siyaram Recycling Industries Limited's revenue increased by 16.75% and profit after tax (PAT) rose by 137.36% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 15,136.31 | 9,851.35 | 9,823.59 |
| Total Income | 49,786.27 | 42,644.34 | 13,972.93 |
| Profit After Tax | 765.42 | 322.47 | 142.28 |
| Net Worth | 4,642.12 | 3,876.71 | 3,554.23 |
| Reserves and Surplus | 3,261.57 | 2,496.16 | 2,173.68 |
| Total Borrowing | 6,706.95 | 2,821.02 | 2,931.72 |
| Amount in ₹ Lakhs | |||
The market capitalization of Siyaram Recycling Industries IPO is ₹86.47 Cr.
| KPI | Values |
|---|---|
| ROE | 17.97% |
| ROCE | 13.42% |
| Debt/Equity | 1.44 |
| RoNW | 16.49% |
The details of the utilization of the Net Proceeds are set forth herein below:
[Dilip Davda] The company is engaged in brass products and components. It has posted erratic financial performance so far with bumper profits from FY23 onwards. Based on super annualized FY24 earnings, the issue appears fully priced. Well-informed investors may park funds for the medium term. Read detail review...
| Listing Date | December 21, 2023 |
| BSE Script Code | 544047 |
| NSE Symbol | |
| ISIN | INE0QSK01017 |
| Final Issue Price | ₹46 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹46.00 |
| Open | ₹55.00 |
| Low | ₹55.00 |
| High | ₹57.75 |
| Last Trade | ₹57.75 |
Siyaram Recycling Industries Ltd.
Plot No. 6 & 7,
Village: Lakhabaval Post
Khodiyar Colony, Jamnagar-361006
Jamnagar, Gujarat
Phone: +91-75750-20500
Email: cs@siyaramindustries.co.in
Website: https://www.siyaramindustries.co.in/
Cameo Corporate Services Ltd.
Phone: +91-44-28460390
Email: ipo@cameoindia.com
Website: https://ipo.cameoindia.com/
Siyaram Recycling Industries IPO is a SME IPO of 49,92,000 equity shares of the face value of ₹10 aggregating up to ₹22.96 Crores. The issue is priced at ₹46 per share. The minimum order quantity is 3000.
The IPO opens on December 14, 2023, and closes on December 18, 2023.
Cameo Corporate Services Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Siyaram Recycling Industries IPO using UPI as a payment gateway. Zerodha customers can apply in Siyaram Recycling Industries IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Siyaram Recycling Industries IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Siyaram Recycling Industries IPO opens on December 14, 2023 and closes on December 18, 2023.
Siyaram Recycling Industries IPO lot size is 3000, and the minimum amount required for application is ₹1,38,000.
You can apply in Siyaram Recycling Industries IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Siyaram Recycling Industries IPO will be done on Tuesday, December 19, 2023, and the allotted shares will be credited to your demat account by Wednesday, December 20, 2023. Check the Siyaram Recycling Industries IPO allotment status.
The Siyaram Recycling Industries IPO listing date is on Thursday, December 21, 2023.
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