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Siyaram Recycling IPO is a book built issue of Rs 22.96 crores. The issue is entirely a fresh issue of 49.92 lakh shares.
Siyaram Recycling IPO bidding started from December 14, 2023 and ended on December 18, 2023. The allotment for Siyaram Recycling IPO was finalized on Tuesday, December 19, 2023. The shares got listed on BSE SME on December 21, 2023.
Siyaram Recycling IPO price band is set at ₹43 to ₹46 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹138,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹276,000.
Hem Securities Limited is the book running lead manager of the Siyaram Recycling IPO, while Cameo Corporate Services Limited is the registrar for the issue. The market maker for Siyaram Recycling IPO is Hem Finlease.
Refer to Siyaram Recycling IPO RHP for detailed information.
| IPO Date | December 14, 2023 to December 18, 2023 |
| Listing Date | December 21, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹43 to ₹46 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 4,992,000 shares (aggregating up to ₹22.96 Cr) |
| Fresh Issue | 4,992,000 shares (aggregating up to ₹22.96 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 13,805,500 |
| Share holding post issue | 18,797,500 |
| Market Maker portion | 252,000 shares Hem Finlease |
Siyaram Recycling IPO offers 4,992,000 shares. 948,000 (18.99%) to QIB, 711,000 (14.24%) to NII, 1,659,000 (33.23%) to RII and 1,422,000 (28.49%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,422,000 (28.49%) |
| Market Maker Shares Offered | 252,000 (5.05%) |
| QIB Shares Offered | 948,000 (18.99%) |
| NII (HNI) Shares Offered | 711,000 (14.24%) |
| Retail Shares Offered | 1,659,000 (33.23%) |
| Total Shares Offered | 4,992,000 (100%) |
Siyaram Recycling IPO opens on December 14, 2023, and closes on December 18, 2023.
| IPO Open Date | Thursday, December 14, 2023 |
| IPO Close Date | Monday, December 18, 2023 |
| Basis of Allotment | Tuesday, December 19, 2023 |
| Initiation of Refunds | Wednesday, December 20, 2023 |
| Credit of Shares to Demat | Wednesday, December 20, 2023 |
| Listing Date | Thursday, December 21, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 18, 2023 |
Investors can bid for a minimum of 3000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹138,000 |
| Retail (Max) | 1 | 3000 | ₹138,000 |
| HNI (Min) | 2 | 6,000 | ₹276,000 |
| Lot Size Calculator | |||
The promoters of the Company are Dwarkadhish Venture Private Limited, Ramgopal Ochhavlal Maheshwari, Bhavesh Ramgopal Maheshwari and Madhu Ramgopal Maheshwari
| Share Holding Pre Issue | 100% |
| 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 |
| Revenue | 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 IPO is Rs 86.47 Cr.
| KPI | Values |
|---|---|
| ROE | 17.97% |
| ROCE | 13.42% |
| Debt/Equity | 1.44 |
| RoNW | 16.49% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.54 | |
| P/E (x) | 8.3 | 10.9 |
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...
The Siyaram Recycling IPO is subscribed 385.19 times on December 18, 2023 7:02:00 PM. 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) |
|---|---|
| QIB | 96.43 |
| NII | 597.72 |
| Retail | 459.11 |
| Total | 385.19 |
Total Application : 329,463 (595.77 times)
| Listing Date | December 21, 2023 |
| BSE Script Code | 544047 |
| NSE Symbol | |
| ISIN | INE0QSK01017 |
| Final Issue Price | ₹46 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹46.00 |
| ₹55.00 |
| ₹55.00 |
| ₹57.75 |
| ₹57.75 |
Siyaram Recycling Industries Limited
Plot No. 6 & 7,
Village: Lakhabaval Post
Khodiyar Colony, Jamnagar-361006
Phone: +91-75750-20500
Email: cs@siyaramindustries.co.in
Website: https://www.siyaramindustries.co.in/
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: ipo@cameoindia.com
Website: https://ipo.cameoindia.com/
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Siyaram Recycling IPO is a SME IPO of 4,992,000 equity shares of the face value of ₹10 aggregating up to ₹22.96 Crores. The issue is priced at ₹43 to ₹46 per share. The minimum order quantity is 3000 Shares.
The IPO opens on December 14, 2023, and closes on December 18, 2023.
Cameo Corporate Services Limited is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Siyaram Recycling IPO using UPI as a payment gateway. Zerodha customers can apply in Siyaram Recycling IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Siyaram Recycling IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Siyaram Recycling IPO opens on December 14, 2023 and closes on December 18, 2023.
Siyaram Recycling IPO lot size is 3000 Shares, and the minimum amount required is ₹138,000.
You can apply in Siyaram Recycling IPO online using either UPI or ASBA as 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 apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Siyaram Recycling 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 IPO allotment status.
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