Sai Swami Metals and Alloys IPO: Open/Close Date, Price, Lot Size, Allotment, Subscription

Q: When will Sai Swami Metals and Alloys Limited’s IPO open for subscription?

The IPO subscription window will open on April 30, 2024 .

IPO Details

Bidding Dates

29 Apr '24 - 02 May '24

Minimum Investment

₹1,20,000 / 1 Lot ( 2,000 Shares )

Price Range

₹60

Maximum Investment

₹1,20,000 / 1 Lot ( 2,000 Shares )

Retail Discount

Not Applicable

Issue Size

₹15 Cr

Investor category and sub category

Retail Individual Investors | Qualified Institutional Bidders | Non-Institutional Bidders |

Sai Swami Metals and Alloys Limited IPO Important Dates

Important dates with respect to IPO allotment and listing

Opening Date

Apr 29, 2024

Closing Date

May 2, 2024

Basis of Allotment

May 5, 2024

Initiation of Refunds

May 6, 2024

Credit of Shares to Demat

May 6, 2024

Listing Date

May 7, 2024

Cut-off time for UPI mandate confirmation

Apr 2, 2024

About Sai Swami Metals and Alloys Limited

Incorporated in 2022, Sai Swami Metals and Alloys Limited is involved in the trading and marketing of a comprehensive array of stainless steel products.

Through this, it addresses the diverse needs of its discerning customers. The company is engaged in trading basic raw materials like S.S.Patta, S.S.Sheet, S.S.Coil, S.S.Scrap, S.S.Pipe, M.S.Round (Mild steel Round) and M.S. beam and so on for its various customers.

The company's product line is specifically designed to encompass a wide range of kitchenware, including Dinner Sets, S.S. Casseroles, S.S. Multi Kadai, S.S. Water Bottles, Stainless Steel Sheets, Stainless Steel Circles, and various types of utensils.

The Dolphin brand is noted for its role in trading and marketing stainless steel kitchenware products under the umbrella of Sai Swami Metals and Alloys and its two subsidiaries, Bhagat Marketing Private Limited and Dhruvish Metals LLP.

By December 31, 2023, the firm had established a distribution network consisting of 6 distributors and over 150 sub-dealers, stockists, and retailers, along with strategic partnerships in states such as Gujarat, Madhya Pradesh, and Maharashtra. As of March 31, 2024, the company employed a total of seven individuals.

Industry Outlook:

The Indian Cookware and Serveware Market experienced moderate growth during the period 2017-2020, supported by rapid growth in population and rising urbanisation in the country.
India's Cookware Market is expected to grow at a CAGR of 6.0% during 2021-2027. The rising population in the country and faster urbanisation are the two main factors driving the growth of the market at a faster pace.

Sai Swami Metals and Alloys Limited IPO Details

Sai Swami Metals and Alloys Limited IPO Date

Sai Swami Metals and Alloys IPO is open from April 30, 2024, to May 3, 2024. The IPO will be listed on BSE SME.

Sai Swami Metals and Alloys Limited IPO Price Band

Sai Swami Metals and Alloys is a fixed price issue IPO. The price is set at ₹60 per share.

Sai Swami Metals and Alloys Limited IPO Lot Size

The lot size for Sai Swami Metals and Alloys Limited’s IPO is 2,000 shares with a minimum investment of ₹1,20,000.

Sai Swami Metals and Alloys Limited IPO Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

To address additional working capital needs;
To allocate funds to a subsidiary;
To purchase machinery;
General corporate purposes.

Peer Details

Sai Swami Metals and Alloys considers only TTK Prestige Ltd as its listed peers.

How To Check the Allotment Status of the Sai Swami Metals and Alloys Limited IPO?

Steps to check IPO allotment status on Angel One’s app:

Log in to the Angel One app
Go to the Individual order details page of the IPO that you had applied for.
Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.

Contact Details of Sai Swami Metals and Alloys Limited

Registered office: 05, Harekrishana Industrial Estate Bakrol, Ahmedabad,

Daskroi, Gujarat – 382430

Phone: +91 99099 70863

E-mail:cs@saiswamimetals.com

Financial Performance

Particulars	9-Month period Ending on December 31, 2023	Year Ending on March 31, 2023
Revenue from Operations (in ₹ lakh)	3,333.86	626.76
Profit After Tax (PAT) (in ₹ lakh)	179.52	3.83
Cash & Cash Equivalents (in ₹ lakh)	4.57	34.26
Net Worth (in ₹ lakh)	664.47	35.32
Debt to Equity Ratio(x)	1.12	17.28
Return on Equity (%)	51.31%	-
Return on Capital Employed (RoCE) (%)	51.30%	57.17%
Diluted Earning Per Share (EPS)-in absolute ₹	5.29	38.28

Know before investing

Strengths

The company has increased its production capacity by acquiring Dhruvish Metal Industries LLP. As a result, the company has access to a manufacturing facility with an annual capacity of 1,200 tons.
Looking forward, the company plans to cater to the increasing demand of its existing customers and increase its existing customer base by enhancing the distribution reach of its products in different parts of the country.
The company maintains a steadfast commitment to quality at all stages of production, ensuring high standards from raw material procurement to manufacturing, which cultivates consumer trust and brand loyalty.
With a diverse product range and a strong sales and distribution network across several Indian states, Sai Swami Metals and Alloys effectively meets varied customer needs and ensures significant market penetration

Risks

Reliance on leased premises and single product revenue (S.S. Scraps) (Revenue: ₹3,333.86 lakh) exposes Sai Swami Metals and Alloys to operational disruptions and revenue fluctuations.
Pending trademark registration and reliance on subsidiary's logo usage pose threats to brand equity and proprietary rights of Sai Swami Metals and Alloys.
Lack of long-term material contracts heightens price volatility and quality risks for Sai Swami Metals and Alloys, impacting profit margins and operational continuity.
Heavy dependence on third-party entities for product distribution exposes Sai Swami Metals and Alloys to operational inefficiencies and market reach limitations, impacting sales and revenue streams.