The Siyaram Recycling IPO date has confirmed from December 14, 2023 and closes on December 18, 2023.
Using an IPO, Siyaram Recycling is seeking to raise Rs 22.96 crores. Its 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.
Start your investing journey today. How do you open your own demat account for free?
Bidding Dates
December 14-18
Price Range
₹43 to ₹46 per share
Face Value
₹10 per share
GMP
₹28
Siyaram Recycling IPO GMP
The Siyaram Recycling Limited IPO GMP is ₹28.
IPO Overview
The Siyaram Recycling IPO is a book-built offering for Rs 22.96 crores. The issue is a completely new issue of 49.92 lakh shares. Siyaram Recycling’s initial public offering (IPO) begins on December 14, 2023 and concludes on December 18, 2023. The Siyaram Recycling IPO allotment is expected to be completed on Tuesday, December 19, 2023. Siyaram Recycling’s first public offering (IPO) will be listed on the BSE SME on Thursday, December 21, 2023. The Siyaram Recycling IPO pricing range is set at 43 to 46 cents per share. A lot size of 3000 shares is required for an application. Retail investors must make a minimum commitment of $180,000. The minimum lot size for HNI is two lots (6,000 shares), totaling $276,000 in investment.
The company sells its products in around 18 Indian states and union territories, with Gujarat accounting for the majority of revenue. The company’s products are shipped to nations such as China, Germany, Belgium, and Oman. Gujarat accounted for 56.40% of revenue from operations in FY 2023, while Madhya Pradesh provided 5.25%, Punjab contributed 2.03%, and Rajasthan contributed 1.41%.
Siyaram Recycling IPO Details
| Siyaram Recycling IPO Dates | 14 – 18 December 2023 |
| Siyaram Recycling Issue Price | INR 43 – 46 per share |
| Fresh issue | 4,992,000 shares (INR 21.47 – 22.96 crore) |
| Offer For Sale | Nil |
| Total IPO size | 4,992,000 shares (INR 21.47 – 22.96 crore) |
| Minimum bid (lot size) | 3,000 shares (INR 138,000) |
| Face Value | INR 10 per share |
| Retail Allocation | 35% |
| Listing On | BSE SME |
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 IPO Dates & Listing Performance
| IPO Opening Date | 14 December 2023 |
| IPO Closing Date | 18 December 2023 |
| Finalization of Basis of Allotment | 19 December 2023 |
| Initiation of refunds | 20 December 2023 |
| Transfer of shares to demat accounts | 20 December 2023 |
| IPO Listing Date | 21 December 2023 |
| Opening Price on BSE SME | Coming soon |
| Closing Price on BSE SME | Coming soon |
Company Profile
Siyaram Recycling Industries Ltd, founded in 2007, is primarily engaged in the separation of brass scrap, the manufacture of brass ingots, billets, and brass rods, and the production of brass-based components, notably plumbing and sanitary parts. All of these operations take place in three sites in Jamnagar, a major hub for brass components. Unit-I, which has a land area of 4970 square metres, is where brass billets and ingots, as well as brass rods and plumbing components, are manufactured. Meanwhile, Unit-II, which has 3629 square metres of land, is utilised to
produce brass sanitary parts. Finally, over a land area of 3346 square metres, Unit-III is largely used for scrap separation. 346 square metres are largely utilised for scrap separation.
Registrar Info
| Name | CAMEO CORPORATE SERVICES LIMITED |
| Phone number | +91-44-40020700 |
| Email ID | investor@cameoindia.com |
| Website | cameoindia.com |
Contact Details
| Name | SIYARAM RECYCLING INDUSTRIES LIMITED |
| Phone number | +91-75750-20500 |
| Email ID | cs@siyaramindustries.co.in |
| Website | siyaramindustries.co.in |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
