Siyaram Recycling IPO

Siyaram Recycling IPO will open for subscription from 14 December 2023. The company aims for an issue size of ₹22.96 Cr through this IPO.

Company Overview

Full nameSiyaram Recycling Limited
SectorNon-Ferrous Metals
IndustryMetal-Non Ferrous
Company Website

About Company

Established in 2007, Siyaram Recycling Industries is predominantly involved in the sorting of brass scrap, the production of brass ingots, billets, and brass rods, as well as the manufacturing of components based on brass (specifically plumbing and sanitary parts). The company presently operates through three facilities, all situated in the Jamnagar district. The production of brass billets and ingots, brass rods, and brass components (specifically plumbing parts) takes place at Unit-I, located on a 4,970-square-meter plot. The manufacturing of brass components (specifically sanitary parts) occurs at Unit-II, situated on a 3629 square meter plot. Unit-III, located on a 3,346 square meter plot, is dedicated to the segregation of scrap.

As of 31 March 2023, the company boasts an installed capacity of 9,900 Metric Ton for the production of brass billets and ingots, 8,250 Metric Ton for manufacturing brass rods, and 3,300 Metric Ton for the manufacturing of brass components. Siyaram Recycling Industries distributes its products across approximately 18 states and Union Territories in India, with a significant portion of its revenue originating from the state of Gujarat. Additionally, it exports products to countries including China, Germany, Belgium, and Oman. For the six months ended September 2023, FY 2023, and 2022, the revenue from exports amounted to INR 19.12 crore, INR 162.36 crore, and INR 113.35 crore, respectively, constituting 8.82%, 32.94%, and 26.78% of its total revenue from operations for the respective fiscal years.

The Objectives of the Issue

  • Repayment of a portion of certain borrowing availed by the Company.
  • General Corprorate Purposes.

Siyaram Recycling IPO Timetable

IPO Opening date14 December 2023
IPO Closing18 December 2023
Basis of Allotment19 December 2023
Initiation Refund20 December 2023
Credit to Demat Account20 December 2023
Listing Date21 December 2023
(Cut-off time for UPI mandate confirmation – 5 PM on December 18, 2023)

Siyaram Recycling IPO details

Issue typeBook built Issue IPO
IPO issue size₹22.96 Cr – 4,992,000 shares
Fresh Issue₹22.96 Cr – 4,992,000 shares
Offer for saleNil
Face value₹10 per share
Price Band ₹43 to ₹46 per share
Lot size3000 Shares
Market Maker portion252,000 shares
Shareholding pre-issue13,805,500
Shareholding post-issue18,797,500
Listing ExchangeBSE SME

Siyaram Recycling IPO Lot Size

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

Siyaram Recycling IPO Reservation Details

Investor CategoryShares Offered
Anchor Investor Shares Offered1,422,000 (28.49%)
Market Maker Shares Offered252,000 (5.05%)
QIB Shares Offered948,000 (18.99%)
NII (HNI) Shares Offered711,000 (14.24%)
Retail Shares Offered1,659,000 (33.23%)
Total Shares Offered4,992,000 (100%)

Siyaram Recycling Financial Performance

 FY 2021FY 2022FY 2023H1 FY 2024
Net income1.423.227.653.97
(Amount in ₹ Crores)

Siyaram Recycling Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio7.76 – 8.30
RONW (%)4.008.3216.49
ROCE (%)5.3910.3813.42
EBITDA (%)2.711.212.35

Company Promoters

  • Dwarkadhish Venture Private Limited
  • Ramgopal Ochhavlal Maheshwari
  • Bhavesh Ramgopal Maheshwari
  • Madhu Ramgopal Maheshwari

Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding

Siyaram Recycling IPO Lead Manager(s)

904, A Wing, Naman Midtown, Senapati Bapat Marg,
Elphinstone Road, Lower Parel, Mumbai-400013, India
Phone: +91- 022- 49060000

Siyaram Recycling Registrar

Subramanian Building, 5th Floor, No. 01, Club House Road,
Mount Road, Chennai – 600 002, Tamil Nadu
Phone: +91-44-40020700

Siyaram Recycling Contact Details

Plot No. 6 & 7, Village: Lakhabaval,
Post: Khodiyar Colony, Jamnagar-361006 Gujarat
Phone: +91-75750-20500

Siyaram Recycling IPO Allotment Status

Siyaram Recycling IPO allotment status will be available on Cameo Corporate Services’ website. Click on Cameo Corporate Services weblink to get allotment status.

Final thoughts

Siyaram Recycling IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.

Happy Investing

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