Bookbuilding IPO | ₹23 Cr | Listed at BSE SME | Thu, Dec 14, 2023 - Mon, Dec 18, 2023
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 per share. The lot size for an application is 3,000. The minimum amount of investment required by an retail is ₹1,38,000 (3000 shares) (based on upper price). The minimum lot size for investment in 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 Open
Thu, Dec 14, 2023
IPO Close
Mon, Dec 18, 2023
Issue Price
₹46 per share
Market Cap (Pre-IPO)
₹86.47 Cr
| IPO Date | 14 to 18 Dec, 2023 |
| Listed on | Thu, Dec 21, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹43 to ₹46 |
| Issue Price | ₹46 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 49,92,000 shares (agg. up to ₹23 Cr) |
| Reserved for Market Maker | 2,52,000 shares Hem Finlease Pvt.Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 47,40,000 shares (agg. up to ₹22 Cr) |
| Net Offered to Public | 47,40,000 shares (agg. up to ₹22 Cr) |
| Share Holding Pre Issue | 1,38,05,500 shares |
| Share Holding Post Issue | 1,87,97,500 shares |
| BSE Script Code | 544047 |
| ISIN | INE0QSK01017 |
Siyaram Recycling Industries IPO comprises a total issue size of 49,92,000 shares. The net offer to the public is 47,40,000 shares, after excluding 2,52,000 shares allotted on a firm basis. Of the Net offer 23,70,000 (50.00%) are allocated to QIB, 7,11,000 (15.00%) allocated to NII 16,59,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 23,70,000 | 50.00% | 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 | 15.00% | 14.24% |
| Retail Shares Offered | 16,59,000 | 35.00% | 33.23% |
| Firm Reservations | |||
| Market Maker Shares Offered | 2,52,000 | 5.05% | |
| Total Shares Offered | 49,92,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| 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 |
Siyaram Recycling Industries IPO raises ₹6.54 crore from anchor investors. Siyaram Recycling Industries IPO Anchor bid date is December 13, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Dec 13, 2023 |
| Shares Offered | 14,22,000 |
| Anchor Portion (₹ Cr.) | 6.54 |
| Anchor lock-in period end date for 50% shares (30 Days) | Thu, Jan 18, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Mon, Mar 18, 2024 |
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%.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 151.36 | 98.51 | 98.24 |
| Total Income | 497.86 | 426.44 | 139.73 |
| Profit After Tax | 7.65 | 3.22 | 1.42 |
| NET Worth | 46.42 | 38.77 | 35.54 |
| Reserves and Surplus | 32.62 | 24.96 | 21.74 |
| Total Borrowing | 67.07 | 28.21 | 29.32 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment of a portion of certain borrowing availed by the Company | 18.00 |
| 2 | General Corporate Purposes | 2.36 |
| KPI | |
|---|---|
| ROE | 17.97% |
| ROCE | 13.42% |
| Debt/Equity | 1.44 |
| RoNW | 16.49% |
| PAT Margin | 1.55% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.54 | |
| P/E (x) | 8.3 | 10.9 |
| Promoter Holding | 100% | |
| Market Cap | ₹86.47 Cr. |
The Siyaram Recycling IPO is subscribed 385.19 times on December 18, 2023 7:02:00 PM (Day 3). The public issue subscribed 459.11 times in the retail category, 96.43 times in the QIB category, and 597.72 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 96.43 | 9,48,000 | 9,14,13,000 |
| NII* | 597.72 | 7,11,000 | 42,49,80,000 |
| Retail | 459.11 | 16,59,000 | 76,16,58,000 |
| Total | 385.19 | 33,18,000 | 1,27,80,51,000 |
Total Application : 3,29,463
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Fees | 0.26 |
| 2 | Fees Payable to Registrar to the Issue | 0.05 |
| 3 | Fees Payable for Advertising and Publishing Expenses | 0.15 |
| 4 | Fees Payable to Regulators including Stock Exchanges | 0.20 |
| 5 | Payment for Printing & Stationery, Postage, etc. | 0.02 |
| 6 | Fees Payable to Legal Advisors | 0.02 |
| 7 | Others (Fees payable for Marketing & distribution expenses, Selling Commission, Brokerage, Processing Fees, Underwriting fees and Miscellaneous Expenses) | 1.90 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹46.00 |
| Open | ₹55.00 |
| Low | ₹55.00 |
| High | ₹57.75 |
| Last Trade | ₹57.75 |
Lead Manager Reports
Siyaram Recycling Industries IPO is a SME IPO of 49,92,000 equity shares of the face value of ₹10 aggregating up to ₹23 Crores. The issue is priced at ₹46 per share. The minimum order quantity is 3000.
The IPO opens on Thu, Dec 14, 2023, and closes on Mon, Dec 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 Thu, Dec 14, 2023 and closes on Mon, Dec 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 Wed, Dec 20, 2023. Check the Siyaram Recycling Industries IPO allotment status.
The Siyaram Recycling Industries IPO listing date is on Thu, Dec 21, 2023.
