Siyaram Recycling IPO: Siyaram Recycling Industries Limited IPO Details

Siyaram Recycling IPO: The Siyaram Recycling IPO is set to make its mark in the Indian stock market, offering investors an opportunity to be part of a company that plays a significant role in the recycling and manufacturing of brass products. In this blog, we’ll delve into the details of the Siyaram Recycling IPO, including its key dates, price band, objectives, financial performance, and more.

Also See: Siyaram Recycling IPO GMP

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Siyaram Recycling IPO Details

IPO NameSiyaram Recycling IPO
IPO DateDecember 14, 2023, to December 18, 2023
Basis of AllotmentDecember 19, 2023
Listing DateDecember 21, 2023
Face Value₹10 per share
Price Band₹43 to ₹46 per share
Lot Size3000 Shares
Total Issue Size4,992,000 shares (₹22.96 Crores)
Fresh Issue4,992,000 shares (₹22.96 Crores)
Issue TypeBook Built Issue IPO
Listing AtBSE SME
Shareholding Pre-Issue13,805,500
Shareholding Post-Issue18,797,500
Market Maker Portion252,000 shares

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Reservation for Siyaram Recycling IPO

  • QIB Shares Offered: Not more than 50% of the Net Issue
  • Retail Shares Offered: Not less than 35% of the Net Issue
  • NII (HNI) Shares Offered: Not less than 15% of the Net Issue

Also Read: India Shelter IPO: India Shelter Finance Corporation Limited IPO Details

Lot Size for Siyaram Recycling IPO

Investors can bid for a minimum of 3000 shares and in multiples thereof.

ApplicationLotsSharesAmount
Retail (Min)13000₹138,000
Retail (Max)13000₹138,000
HNI (Min)26,000₹276,000

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Siyaram Recycling IPO Objectives

The funds raised through the Siyaram Recycling IPO will be utilized for the following purposes:

  1. Repayment of Borrowings: A portion of the funds will be used to repay certain borrowings availed by the company, which can help reduce interest costs and improve overall financial health.
  2. General Corporate Purposes: The remaining funds will be deployed for general corporate purposes, which could include working capital requirements, capital expenditure, and other strategic initiatives.

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Financial Performance of Siyaram Recycling Industries Limited

Siyaram Recycling Industries Limited has exhibited robust financial growth, as evidenced by its restated financials between the financial year ending on March 31, 2022, and March 31, 2023. The company achieved impressive results, with a 16.75% increase in revenue and a remarkable 137.36% surge in profit after tax (PAT).

Period Ended31 Mar 202331 Mar 202231 Mar 2021
Assets15,136.319,851.359,823.59
Revenue49,786.2742,644.3413,972.93
Profit After Tax765.42322.47142.28
Net Worth4,642.123,876.713,554.23
Reserves and Surplus3,261.572,496.162,173.68
Total Borrowing6,706.952,821.022,931.72
Amount in ₹ Lakhs

About Siyaram Recycling Industries Limited

Founded in 2007, Siyaram Recycling Industries Limited has established itself as a key player in the recycling and manufacturing of brass products. The company’s primary activities include segregating brass scrap, manufacturing brass ingots, billets, brass rods, and producing brass-based components, particularly plumbing and sanitary parts. These operations are carried out across three facilities located in the Jamnagar district, a renowned hub for brass components.

  • Unit-I: This unit spans an area of 4,970 square meters and focuses on manufacturing brass billets, ingots, and rods.
  • Unit-II: Covering 3,629 square meters, Unit-II specializes in manufacturing sanitary parts made of brass.
  • Unit-III: Encompassing an area of 3,346 square meters, Unit-III is primarily dedicated to segregating brass scrap.

The company’s market reach extends to approximately 18 states and Union Territories in India, with Gujarat contributing the majority of its revenue. Additionally, Siyaram Recycling Industries Limited exports its products to several countries, including China, Germany, Belgium, and Oman.

As of FY 2023, Gujarat accounted for 56.40% of the company’s revenue from operations, while Madhya Pradesh contributed 5.25%, Punjab contributed 2.03%, and Rajasthan contributed 1.41%.

Siyaram Recycling IPO Registrar

Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: [email protected]
Website: Cameo Corporate Services

Siyaram Recycling IPO Lead Manager(s)

Hem Securities Limited

Siyaram Recycling IPO Timeline (Tentative Schedule)

  • IPO Opens: Thursday, December 14, 2023
  • IPO Closes: 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
SIYARAM Recycling IPO

Investors looking to participate in the Siyaram Recycling IPO should carefully consider all the provided information and conduct their own due diligence before making investment decisions. The IPO market can be volatile, and understanding the company’s fundamentals and objectives is essential for making informed choices.

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