Siyaram Recycling Industries Limited IPO | Subscription Status | moneymultiple.in
- The IPO is open for subscription from December 14, 2023, to December 18, 2023.
- The IPO size is Rs 22.96 crores, with a fresh issue of 49.92 lakh shares.
- The tentative listing date on BSE SME is Thursday, December 21, 2023.
- The price band for the IPO is set at ₹43 to ₹46 per share.
- Minimum lot size for application is 3000 shares, and the minimum investment for retail investors is ₹138,000.
2. Siyaram Recycling IPO Reservation:
- The IPO offers 4,992,000 shares, with allocations to Anchor investors, Market Makers, QIBs, NIIs (HNI), and Retail investors.
3. Siyaram Recycling IPO Timeline (Tentative Schedule):
- IPO opened on December 14, 2023, and will close on December 18, 2023.
- Basis of Allotment is on Tuesday, December 19, 2023.
- Refund initiation and credit of shares to Demat on Wednesday, December 20, 2023.
- Listing date is Thursday, December 21, 2023.
4. Siyaram Recycling IPO Lot Size:
- Investors can bid for a minimum of 3000 shares, and multiples thereof.
- Retail investors and HNIs have different lot sizes and investment amounts.
5. Siyaram Recycling Industries Limited Overview:
- Incorporated in 2007, the company is involved in brass scrap separation, manufacturing brass ingots, billets, rods, and brass-based components.
- Operates in three plants in Jamnagar district.
- Revenue in 2023 was ₹492.87 million, with domestic and international market contributions.
- Products are distributed in 18 states and Union Territories in India and exported to countries like China, Germany, Belgium, and Oman.
6. Financial Information:
- Revenue increased by 16.75%, and profit after tax rose by 137.36% between March 31, 2022, and March 31, 2023.
- Key financials include assets, revenue, profit after tax, net worth, reserves and surplus, and total borrowing.
7. Key Performance Indicators (KPIs):
- Market Cap is Rs 86.47 Cr with a P/E ratio of 8.3.
- Other KPIs include post P/E, ROE, ROCE, Debt/Equity, EPS, and RoNW.
8. Objects of the Issue:
- Net Proceeds to be used for the repayment of certain borrowings and general corporate purposes.
9. Siyaram Recycling IPO Review:
- A review by Dilip Davda suggests that the company is engaged in brass products and components, with erratic financial performance. The issue seems fully priced based on FY24 earnings.
10. Subscription Status (Bidding Detail):
- As of December 15, 2023 (Day 2), the IPO is subscribed 41.60 times.
- Subscription details include categories such as QIB, NII, Retail, and the total number of shares bid for.