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 name | Siyaram Recycling Limited |
| Sector | Non-Ferrous Metals |
| Industry | Metal-Non Ferrous |
| Company Website | https://www.siyaramindustries.co.in/ |
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 date | 14 December 2023 |
| IPO Closing | 18 December 2023 |
| Basis of Allotment | 19 December 2023 |
| Initiation Refund | 20 December 2023 |
| Credit to Demat Account | 20 December 2023 |
| Listing Date | 21 December 2023 |
Siyaram Recycling IPO details
| Issue type | Book built Issue IPO |
| IPO issue size | ₹22.96 Cr – 4,992,000 shares |
| Fresh Issue | ₹22.96 Cr – 4,992,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹43 to ₹46 per share |
| Lot size | 3000 Shares |
| Market Maker portion | 252,000 shares |
| Shareholding pre-issue | 13,805,500 |
| Shareholding post-issue | 18,797,500 |
| Listing Exchange | BSE SME |
Siyaram Recycling IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹138,000 |
| Retail (Max) | 1 | 3000 | ₹138,000 |
| HNI (Min) | 2 | 6,000 | ₹276,000 |
Siyaram Recycling IPO Reservation Details
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,422,000 (28.49%) |
| Market Maker Shares Offered | 252,000 (5.05%) |
| QIB Shares Offered | 948,000 (18.99%) |
| NII (HNI) Shares Offered | 711,000 (14.24%) |
| Retail Shares Offered | 1,659,000 (33.23%) |
| Total Shares Offered | 4,992,000 (100%) |
Siyaram Recycling Financial Performance
| FY 2021 | FY 2022 | FY 2023 | H1 FY 2024 | |
| Revenue | 138.67 | 423.23 | 492.87 | 215.07 |
| Expenses | 137.77 | 421.95 | 487.06 | 209.70 |
| Net income | 1.42 | 3.22 | 7.65 | 3.97 |
Siyaram Recycling Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 1.03 | 2.34 | 5.54 |
| PE ratio | – | – | 7.76 – 8.30 |
| RONW (%) | 4.00 | 8.32 | 16.49 |
| ROCE (%) | 5.39 | 10.38 | 13.42 |
| NAV | 25.75 | 28.08 | 33.63 |
| EBITDA (%) | 2.71 | 1.21 | 2.35 |
| Debt/Equity | 0.82 | 0.73 | 1.44 |
Company Promoters
- Dwarkadhish Venture Private Limited
- Ramgopal Ochhavlal Maheshwari
- Bhavesh Ramgopal Maheshwari
- Madhu Ramgopal Maheshwari
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | – |
Siyaram Recycling IPO Lead Manager(s)
HEM SECURITIES LIMITED
904, A Wing, Naman Midtown, Senapati Bapat Marg,
Elphinstone Road, Lower Parel, Mumbai-400013, India
Phone: +91- 022- 49060000
Email: ib@hemsecurities.com
Website: www.hemsecurities.com
Siyaram Recycling Registrar
CAMEO CORPORATE SERVICES LIMITED
Subramanian Building, 5th Floor, No. 01, Club House Road,
Mount Road, Chennai – 600 002, Tamil Nadu
Phone: +91-44-40020700
Email: investor@cameoindia.com
Website: www.cameoindia.com
Siyaram Recycling Contact Details
SIYARAM RECYCLING INDUSTRIES LIMITED
Plot No. 6 & 7, Village: Lakhabaval,
Post: Khodiyar Colony, Jamnagar-361006 Gujarat
Phone: +91-75750-20500
E-mail: cs@siyaramindustries.co.in
Website: www.siyaramindustries.co.in
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
