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 opens for subscription on December 14, 2023 and closes on December 18, 2023. The allotment for the Siyaram Recycling IPO is expected to be finalized on Tuesday, December 19, 2023. Siyaram Recycling IPO will list on BSE SME with tentative listing date fixed as Thursday, 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 DRHP for detailed information.
Siyaram Recycling IPO Details
| IPO Date | December 14, 2023 to December 18, 2023 |
| Listing Date | [.] |
| 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 Reservation
| Investor Category | Shares Offered |
|---|---|
| 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 |
Siyaram Recycling IPO Timeline (Tentative Schedule)
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
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 |
Siyaram Recycling IPO Promoter Holding
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 |
About Siyaram Recycling Industries Limited
Incorporated in 2007, Siyaram Recycling Industries Ltd’s main activities include segregating brass scrap, manufacturing brass ingots, billets, and brass rods, and producing brass-based components, specifically plumbing and sanitary parts. All these operations occur across three facilities in the district of Jamnagar, a prominent hub for brass components.
The manufacturing of brass billets and ingots, as well as brass rods and plumbing components, is carried out in Unit-I, which occupies a land area of 4970 square meters. Meanwhile, Unit-II, which covers 3629 square meters of land, is used to manufacture sanitary parts made of brass. Finally, Unit-III, situated on a land area of 3346 square meters, is primarily used for segregating scrap. Three hundred forty-six square meters, is primarily used for segregating scrap.
The company markets its products to around 18 states & Union Territories in India, of which the majority of the revenue comes from Gujarat. The products of the company are exported to countries such as China, Germany, Belgium and Oman.
As of FY 2023, Gujarat was responsible for 56.40% of the revenue from operations, while Madhya Pradesh contributed 5.25%, Punjab contributed 2.03%, and Rajasthan contributed 1.41%.
Siyaram Recycling Industries Limited Financial Information (Restated)
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 |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 8.3 |
| ROE | 17.97% |
| ROCE | 13.42% |
| Debt/Equity | 1.44 |
| EPS (Rs) | 5.54 |
| RoNW | 16.49% |
Check Siyaram Recycling IPO Peer Comparison here.
Objects of the Issue (Siyaram Recycling IPO Objectives)
The details of the utilization of the Net Proceeds are set forth herein below:
- Repayment of a portion of certain borrowing availed by the Company and
- General Corprorate Purposes
Siyaram Recycling Industries Limited Contact Details
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/
Siyaram Recycling IPO Registrar
Cameo Corporate Services Limited
Phone: +91-44-28460390
Email: ipo@cameoindia.com
Website: https://ipo.cameoindia.com/