Siyaram Recycling IPO Date, Price, GMP, Review and Details
This post was most recently updated on December 13th, 2023
Get ready to explore the investment opportunity presented by Siyaram Recycling’s upcoming IPO. With an issue size of ₹22.96 crores, this IPO, exclusively offering 49.92 lakh fresh shares, presents an exciting prospect for investors.
Mark your calendars! The Siyaram Recycling IPO opens on December 14, 2023, and will be accepting subscriptions until December 18, 2023. Keep an eye out for the allotment date, expected to be on December 19, 2023, and prepare for its anticipated listing on the BSE SME platform, tentatively scheduled for December 21, 2023.
The price band for Siyaram Recycling IPO is attractively set between ₹43 and ₹46 per share. For retail investors looking to participate, the minimum investment starts at ₹138,000 for a lot of 3,000 shares. High Net-worth Individuals (HNIs) can enter with a minimum of 2 lots, which equates to 6,000 shares, amounting to ₹276,000.
This IPO offers a unique chance to invest in a company committed to recycling and sustainability. Evaluate your investment options and consider being a part of Siyaram Recycling’s growth journey.
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Page Contents
Siyaram Recycling IPO Details
| 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 |
Siyaram Recycling IPO Timeline
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 |
Siyaram Recycling IPO Lot Size
| Investor Type | Lot Size | Number of Shares | Investment Amount |
|---|---|---|---|
| Retail Investors (Minimum) | 1 lot | 3,000 shares | ₹138,000 |
| Retail Investors (Maximum) | 1 lot | 3,000 shares | ₹138,000 |
| High Net-worth Individuals (HNI) (Minimum) | 2 lots | 6,000 shares | ₹276,000 |
For retail investors, both the minimum and maximum investment is set at 1 lot, which equals 3,000 shares, amounting to ₹138,000. HNIs have a minimum investment threshold of 2 lots, translating to 6,000 shares, for a total of ₹276,000.
Consider reading: How to Check IPO Allotment Status
Siyaram Recycling IPO GMP
| GMP Date | IPO Price | GMP |
|---|---|---|
| 10-12-2023 | 46.00 | ₹28 Todays Movement – GMP Up |
| 09-12-2023 | 46.00 | ₹20 Todays Movement – GMP Up |
| 08-12-2023 | 46.00 | ₹14 Todays Movement – GMP Up |
| 07-12-2023 | ₹0 Todays Movement – GMP No Change |
Please Note: GMP is not official data, this information is collected from news sources. Investors are advised not to look at GMP data for making investment decisions.
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Siyaram Recycling Industries Limited Company Overview
Siyaram Recycling Industries Ltd, a key player in the recycling and manufacturing sector since 2007. Specializing in brass recycling and manufacturing, Siyaram Recycling stands out in the bustling district of Jamnagar, renowned for its brass components industry.
At the heart of its operations are three specialized facilities:
- Unit-I: Spanning 4970 square meters, this unit is the epicenter of brass billets and ingots manufacturing. It also focuses on producing brass rods and vital plumbing components.
- Unit-II: Covering 3629 square meters, this facility is dedicated to crafting high-quality sanitary parts made of brass, showcasing the company’s versatility in brass-based manufacturing.
- Unit-III: Occupying 3346 square meters, this unit is pivotal in the process of segregating scrap, a crucial step in the recycling chain.
Siyaram Recycling’s products have a strong presence across 18 states and Union Territories in India, with Gujarat being a significant contributor to its revenue. The company’s reach extends beyond domestic borders, exporting to countries like China, Germany, Belgium, and Oman, reflecting its global footprint in the brass industry.
This company’s journey from scrap segregation to manufacturing sophisticated brass products demonstrates its commitment to innovation and sustainability in the recycling industry.
Source: Recycling IPO DRHP
Siyaram Recycling Industries Limited Financials
Take a closer look at the impressive financial growth of Siyaram Recycling Industries Limited, showcasing a remarkable journey from March 2021 to March 2023. The company has demonstrated significant progress, evident in its key financial figures:
| 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 |
A Snapshot of Financial Growth (Amount in ₹ Lakhs):
- Assets: Witnessing substantial growth, the company’s assets escalated from ₹9,823.59 lakhs in March 2021 to ₹15,136.31 lakhs by March 2023.
- Revenue: A striking increase in revenue is noted, soaring from ₹13,972.93 lakhs in March 2021 to a remarkable ₹49,786.27 lakhs by March 2023.
- Profit After Tax (PAT): PAT saw an impressive surge of 137.36%, rising from ₹142.28 lakhs in March 2021 to ₹765.42 lakhs by March 2023.
- Net Worth: The company’s net worth has been on an upward trajectory, growing from ₹3,554.23 lakhs in March 2021 to ₹4,642.12 lakhs by March 2023.
- Reserves and Surplus: Demonstrating financial resilience, reserves and surplus increased from ₹2,173.68 lakhs to ₹3,261.57 lakhs in the same period.
- Total Borrowing: There was an increase in total borrowings, from ₹2,931.72 lakhs in March 2021 to ₹6,706.95 lakhs by March 2023.
This financial overview not only highlights Siyaram Recycling’s robust growth but also underscores its ability to significantly enhance revenue and profitability within a short span, marking its potential as a promising player in the recycling industry.
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Siyaram Recycling IPO Peer Comparison
Here’s a table comparing Siyaram Recycling Industries Limited with its peers based on various financial metrics as of March 31, 2023:
| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) |
|---|---|---|---|---|---|
| Siyaram Recycling Industries Limited | 5.54 | 5.54 | 33.63 | 8.30 | 16.49 |
| Sprayking Agro Equipment Limited | 4.24 | 4.24 | 50.63 | 6.87 | – |
| Poojawestern Metaliks Limited | 1.05 | 1.05 | 30.30 | 8.67 | – |
Please note that some values for Sprayking Agro Equipment Limited and Poojawestern Metaliks Limited are not provided in the data, as indicated by empty cells.
Siyaram Recycling IPO Review and Recommendation
Siyaram Recycling Industries Ltd, a prominent figure in the brass recycling and manufacturing sector since 2007, is set to launch its public IPO. The IPO, with a valuation of Rs 450 crore, is a mix of a fresh issue of Rs 150 crore and an offer for sale (OFS) of Rs 300 crore.
Notable Aspects of Siyaram Recycling IPO:
- Diverse Product Portfolio: Under the brand Siyaram, the company offers an array of brass products like rods, wires, tubes, ingots, and alloys, serving various sectors including electrical, electronics, automobile, engineering, and construction.
- Manufacturing Excellence: Siyaram boasts a state-of-the-art manufacturing facility in Gujarat, with an impressive capacity of 72,000 MT per annum.
- Strong Distribution Network: The company’s network spans over 300 dealers and distributors both in India and internationally.
- IPO Goals: Funds from the IPO will bolster the company’s expansion plans, facilitate debt repayment, cover working capital needs, and support general corporate purposes.
- IPO Subscription Period: The subscription window is from December 14 to December 16, 2023, with the tentative listing date on BSE and NSE set for December 23, 2023.
- Market Enthusiasm: Currently, the company’s shares are trading at a premium in the grey market, indicating substantial investor interest.
- Leadership in Financial Performance: Siyaram has displayed consistent financial growth with a revenue CAGR of 19.8% and a PAT CAGR of 25.6% from FY19 to FY21.
- IPO Details: The price bands and lot sizes are pending announcement. The book running lead managers are Axis Capital Limited, Edelweiss Financial Services Limited, and SBI Capital Markets Limited. Bigshare Services Private Limited serves as the registrar.
Siyaram Recycling IPO represents a compelling opportunity for investors seeking long-term investments in a leading company in the brass recycling and manufacturing industry. With its strong competitive edge, loyal customer base, and growth potential in both domestic and international markets, this IPO is a strategic buy recommendation.
Final Thoughts on Siyaram Recycling IPO Date, Price, GMP, Review
The upcoming Initial Public Offering (IPO) of Siyaram Recycling, a prominent player in the brass recycling and manufacturing sector, represents a significant event in the financial market. This IPO comprises 1.5 crore equity shares and is poised at an estimated value of Rs 450 crore. Key objectives for raising this capital include facilitating expansion strategies, repaying existing debts, augmenting working capital, and addressing general corporate needs.
Siyaram Recycling is recognized for its robust brand reputation, an extensive range of products, and its international market reach, which underpins its consistent track record in financial performance. Siyaram Recycling IPO is garnering considerable attention in the investment community, as evidenced by its encouraging grey market premium, suggesting a robust demand from potential investors.
A notable feature of Siyaram Recycling IPO is its T+3 listing timeline, a first of its kind, aimed at expediting the process from allotment to market listing, thereby enhancing the investment experience.
