Siyaram Recycling IPO GMP

Siyaram Recycling IPO GMP: The Siyaram Recycling IPO has been generating a lot of buzz in the investment community lately, and for good reason. This book-built issue, with a size of Rs 22.96 crores, has garnered significant attention due to its unique offering. In this blog, we will delve into the details of the Siyaram Recycling IPO and specifically focus on the Grey Market Premium (GMP) associated with it.

Also See: All IPO GMP Price Today

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Siyaram Recycling IPO Overview

The Siyaram Recycling IPO is an entirely fresh issue comprising 49.92 lakh shares. The subscription for this IPO opens on December 14, 2023, and closes on December 18, 2023. The allotment process is expected to be finalized on December 19, 2023. Furthermore, the tentative listing date for Siyaram Recycling IPO on the BSE SME is set for Thursday, December 21, 2023.

Here are some essential details about the Siyaram Recycling IPO:

  • Price Band: The IPO is priced in the range of ₹43 to ₹46 per share.
  • Minimum Lot Size: Retail investors can apply for a minimum of 3000 shares, requiring an investment of ₹138,000.
  • HNI Lot Size: High Net Worth Individuals (HNIs) need to apply for a minimum of 2 lots, which equals 6,000 shares, amounting to ₹276,000.

Also See: Upcoming IPO in India

Siyaram Recycling IPO GMP

Grey Market Premium (GMP) is an unofficial, unregulated market where IPO shares are traded before their official listing. It serves as a barometer for investor sentiment and provides insights into the expected listing price.

Here’s the GMP data for Siyaram Recycling IPO: [Last Updated: 21 Dec, 2023; 15:05]

GMP DateIPO PriceGMPSub2 Sauda RateEstimated Listing Price
21-12-2023₹46.00₹3682100₹82 (78.26%)
20-12-2023₹46.00₹3682100₹82 (78.26%)
19-12-2023₹46.00₹3682100₹82 (78.26%)
18-12-2023₹46.00₹3682100₹82 (78.26%)
17-12-2023₹46.00₹3682100₹82 (78.26%)
16-12-2023₹46.00₹3068400₹76 (65.22%)
15-12-2023₹46.00₹2863800₹74 (60.87%)
14-12-2023₹46.00₹2863800₹74 (60.87%)
13-12-2023₹46.00₹2863800₹74 (60.87%)
12-12-2023₹46.00₹2863800₹74 (60.87%)
11-12-2023₹46.00₹2863800₹74 (60.87%)
10-12-2023₹46.00₹2863800₹74 (60.87%)
09-12-2023₹46.00₹2045600₹66 (43.48%)
08-12-2023₹46.00₹1431900₹60 (30.43%)
07-12-2023₹0₹ (0%)

Based on the GMP of ₹36 and the price band of ₹46, the estimated listing price for Siyaram Recycling IPO is projected to be ₹82, suggesting a potential gain of 78.26%.

Understanding IPO Grey Market Premium (GMP)

The Grey Market Premium (GMP) is an essential metric for assessing investor sentiment about an IPO. A positive GMP suggests that there is demand for the IPO shares in the grey market, which could translate into a potential listing gain. Conversely, a negative GMP indicates that the IPO might list at a discount.

It’s important to note that GMP is highly volatile and influenced by various factors, including market conditions, investor demand, and economic factors. Therefore, basing your investment decision solely on GMP is risky. It’s advisable to conduct thorough research, consider the fundamentals of the company, and consult with financial experts before investing in an IPO.

Also See: Kross Ltd Files ₹500 Crore IPO with SEBI, Eyes Capital Market Expansion; Check Details

About Siyaram Recycling Industries Limited

Siyaram Recycling Industries Ltd, incorporated in 2007, is engaged in various activities related to brass recycling and production. The company operates three facilities in the Jamnagar district, a renowned hub for brass components in India. Here are the key operations in each unit:

  • Unit-I: Manufacturing of brass billets, ingots, and rods.
  • Unit-II: Production of sanitary parts made of brass.
  • Unit-III: Segregation of brass scrap.

Siyaram Recycling caters to 18 states and Union Territories in India, with Gujarat contributing significantly to its revenue. Additionally, the company exports its products to countries like China, Germany, Belgium, and Oman. In FY 2023, Gujarat accounted for 56.40% of the company’s revenue, with other states contributing as well.

For more information, you can visit Siyaram Recycling Industries Limited’s website: Siyaram Recycling Industries Limited.

Conclusion

The Siyaram Recycling IPO has generated substantial interest, and the Grey Market Premium (GMP) serves as an indicator of market sentiment. However, it’s crucial to remember that GMP is speculative and should not be the sole basis for your investment decision. Conduct thorough research, consider the company’s fundamentals, and consult financial experts to make an informed choice when investing in the Siyaram Recycling IPO. Stay updated with the latest GMP figures and market developments to make the best investment decision for your financial goals.

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