IPO Details
Bidding Dates
13 Dec '23 - 17 Dec '23
Minimum Investment
₹138,000/1 Lots ( 3000 Shares )
Price Range
43 - ₹46
Maximum Investment
₹138,000/1 Lots ( 3000 Shares )
Retail Discount
Not Applicable
Issue Size
₹22.96 Cr
Investor category and sub category
Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors |IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Dec 13, 2023
IPO Closing Date
Dec 17, 2023
Basis of Allotment
Dec 18, 2023
Initiation of Refunds
Dec 19, 2023
Credit of Shares to Demat Account
Dec 19, 2023
IPO Listing Date
Dec 20, 2023
UPI Mandate Expiry Date
Dec 17, 2023
IPO Subscription Details
| Date | QIB | NII | Retail | Total |
|---|---|---|---|---|
Day 1Dec 13, 2023 |
0.05x | 8.12x | 36.64x | 20.07x |
Day 2Dec 14, 2023 |
3.56x | 26.38x | 106.57x | 59.95x |
Day 3Dec 17, 2023 |
96.43x | 597.72x | 459.11x | 385.19x |
IPO Subscription Live Status
| Investor Category | Subscription (Times) |
|---|---|
| Qualified Institutions Buyers | 96.43 |
| Non-Institutional Buyers | 597.72 |
| Retail Investors | 459.11 |
| Total | 385.19 |
About Company
Incorporated in 2007, Siyaram Recycling is primarily engaged in the segregation of brass scrap, manufacturing of brass ingots, billets and brass rods and also brass-based components for plumbing and sanitary parts.
Under brass-based components for plumbing, they manufacture various customisable components, such as brass inserts, brass ceramic cartridges, valves, etc., from their 2 manufacturing units in Jamnagar. Some of their renowned customers include Hindware, ROCA, Eauset, Somany, Supreme, AGI Greenpac and Ashirvad Pipes. For FY 2023, their revenue from brass-based components was ₹35.50 crore, contributing 7.20% to the revenue from operations.
They manufacture brass ingots, billets and rods from Jamnagar too, but mainly export these products to China. Their customers in India include Astral Ltd, Kajaria Bathware and AGI Greenpac. In FY 2023, this segment brought in ₹198.64 crore, i.e. 40.30% of the revenue from operations.
They also procure brass scrap, mainly from international markets such as the USA, UK, Europe and the Middle East. Post procurement, brass scrap is segregated and sold in Gujarat. Revenue from this segment was ₹258.30 crore, i.e. 52.41% of the revenue from operations, in FY 2023.
Brass recycling is an important part of the brass industry as brass is an alloy that can be recycled many times. The Indian government has also progressed towards recycling minerals and is formulating a National Resource Efficiency Policy (NREP) that will encourage the recycling of materials in industry. This may, in the future, help a company like Siyaram, which generates revenue from recycled brass, in expanding its operations.
Siyaram Recycling Industries Ltd IPO Details
Siyaram Recycling Industries Ltd IPO Date
The dates for bidding for the Siyaram Recycling Industries IPO are Thursday, December 14, 2023, to Monday, December 18, 2023.
Siyaram Recycling Industries Ltd IPO Price Band
Siyaram Recycling Industries is a book-built IPO. The exact price range is yet to be announced.
Siyaram Recycling Industries Ltd IPO Lot Size
The Siyaram Recycling Industries Ltd IPO lot size is yet to be announced.
Siyaram Recycling Industries Ltd IPO Objectives
This IPO is purely an offer for sale, so the proceeds of the IPO will not be received by the company.
Peer Details
Some of the peer companies of Siyaram Recycling Industries include:
- Sprayking Agro Equipment Limited
- Poojawestern Metaliks Limited
How To Check the Allotment Status of the Siyaram Recycling Industries Ltd IPO?
A: Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Siyaram Recycling Industries Ltd
Registered office: Plot No. 6 & 7, Village, Lakhabaval Post, Khodiyar Colony, Jamnagar 361006, Gujarat.
Phone: +91-75750-20500
E-mail: cs@siyaramindustries.co.in
Company Financials
| Financial year (₹ in Lakhs) | Year Ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|
| Total Income | 49,786.27 | 42,644.34 | 13,972.93 |
| Profit After Tax | 765.42 | 322.47 | 142.28 |
| Return on Capital Employed | 13.42 | 10.38 | 5.39 |
| Debt Service Coverage Ratio | 6.82 | 10.97 | 2.19 |
| Current Ratio | 1.46 | 1.58 | 1.94 |
Know before investing
Strengths
3-
The company’s customer base is fairly diversified, ranging from manufacturers in the sanitary and bathware sector to metal dealers and traders.
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Their Promoter Director, Mr Ramgopal Ochhavlal Maheshwari, has been engaged in the brass industry for the last 34 years, which gives the company an advantage not only in domain knowledge but also in high contacts with clients and suppliers.
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All 3 of their manufacturing units are situated in the district of Jamnagar, Gujarat, which is known as the hub of brass components. The strategic location of their manufacturing units allows them to access a larger consumer base of local brass scrap buyers and reduce logistic costs to achieve economies of scale.
Risks
3-
The company’s profits and the cost of production are exposed to the fluctuations in the prices of their raw material. Any disruption in the supply of the raw material or volatility in its pricing could have an adverse effect on the business.
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In FY 2023, 63.86% of their raw materials were supplied by their top 10 suppliers. This poses the risk of concentration of supplies from just a few suppliers and poses a risk to their supply chain and profits.
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In FY 2023, their top 10 customers contributed 48.70% of their revenue from operations. This poses a risk to their revenue as the loss of a single customer can significantly affect their revenues.
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Siyaram Recycling Industries Ltd IPO FAQs
Siyaram Recycling Industries IPO is a book-built IPO. The dates for the IPO are Thursday, December 14, 2023 to Monday, December 18, 2023.
The basis of allotment will be finalised on Tuesday, December 19, 2023. The credit of shares to the demat accounts will take place on December 20, 2023.
The IPO subscription window is Thursday, December 14, 2023 to Monday, December 18, 2023.
The lot size for Siyaram Recycling IPO is 3000 shares, with a minimum investment requirement of ₹138,000
Siyaram Recycling Industries Ltd will be listed on the BSE SME on Thursday, December 21, 2023.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. The date of listing is Thursday, December 21, 2023.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
