Siyaram Recycling is set to launch an IPO which will open on December 14, 2023, and close on December 18, 2023. Through this public offer company wants to raise Rs. 22.96 Crore from the primary market, The Company fixed the price band of Rs. 43-46 with a minimum lot of 3000 shares and listed on December 21, according to the preliminary papers filed to the capital market regulator SEBI.
About Siyaram Recycling Company
Siyaram Recycling (2007) is engaged in the business of segregation of brass scrap, manufacturing of brass ingots, billets, brass rods, and manufacturing of brass-based components.
- The company has 3 manufacturing facilities in Gujarat.
- The company exports its products to Oman, China, Germany, and Belgium along with 18 states in India.
Siyaram Recycling IPO Object
The objects of which the net proceeds from the issue shall be utilized are as follows:
- Repayment of certain borrowing availed by the company
- General Corporate Purposes and issue-related expenses
Suraj Estate Developer’s Strength
- Strategically located manufacturing facilities
- Diversified client base and long-lasting relationship with customers
- Strong and diversified supplier base for sourcing raw material
- Strong knowledge and expertise of company promoters
Siyaram Recycling IPO Review & Rating
| Issue Size (Rs.) | 22.96 crore |
| Issue Price (Rs.) | 43-46 per share |
| Minimum Lot Size | 3000 shares |
| Total Profit (March 2023) (Rs.) | 7.65 crore |
| P/E (%) | 8.3 |
| NAV (Rs.) | 33.63 |
| Listing on | BSE SME |
| IPO Deliver Rating | Three |
Siyaram Recycling IPO Dates, Price Band & Details
Siyaram Recycling IPO will open on December 14, 2023, and close on December 18, 2023. The IPO list on December 21, 2023.
| Type of issue | Book Built Issue IPO |
| Issue Size (Rs.) | 22.96 crore |
| Face Value (Rs.) | 10/- per share |
| IPO Open Date | December 14, 2023 |
| IPO Close Date | December 18, 2023 |
| IPO Allotment Date | December 19, 2023 |
| Refund Date | December 20, 2023 |
| Share Credit Date | December 20, 2023 |
| Listing Date | December 21, 2023 |
Siyaram Recycling IPO Offer
Siyaram Recycling IPO’s total issue size is 49,92,000 shares, comprising the below-mentioned categories.
| Offer Category | Shares Offer | Amount (Rs.) |
| Fresh Issue | 49,92,000 | 22.96 Crore |
| Offer for Sale (OFS) | – | – |
Siyaram Recycling Financials Review (lakhs)
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.
| Category (Rs.) | March 31, 2023 | March 31, 2022 | March 31, 2021 |
| Total Revenue | 49,786.27 | 42,644.34 | 13,972.93 |
| Net Worth | 4642.12 | 3876.71 | 3554.23 |
| Profit | 765.42 | 322.47 | 142.28 |
| Borrowings | 6706.95 | 2821.02 | 2931.72 |
Siyaram Recycling IPO Quantitative Factors
The following table sets forth the summary of financial information of the company for the financial year ending March 31, 2023, 2022, and 2021.
| Category | March 31, 2023 | March 31, 2022 | March 31, 2021 |
| EPS (Rs.) | 5.54 | 2.34 | 1.03 |
| RoNW (%) | 16.49 | 8.32 | 4.00 |
| NAV (Rs.) | 33.63 | 28.08 | 25.75 |
Siyaram Recycling IPO Peer Comparison (Top 2)
There are listed companies in India that are comparable in all aspects of the business.
| Company Names | EPS (Rs.) | RoNW (%) | NAV (Rs.) |
| Sprayking Agro | 4.25 | 6.87 | 3.90 |
| Pooja Western Metaliks | 1.05 | 8.67 | 12.10 |
Siyaram Recycling Company Promoters
As per the DRHP and RHP, the company has four promoters.
| Serial No. | Name |
| 01. | Dwarkadhish Venture Private Limited |
| 02. | R. O. Maheshwari |
| 03. | B. R. Maheshwari |
| 04. | M. R. Maheshwari |
Siyaram Recycling Pre-offer and Post-Offer Promoters Shareholding
| Promoter and promoter group Shareholding | Percentage (%) |
| Pre-Issue | 100 |
| Post- Issue | – |
Siyaram Recycling IPO Reservation
Siyaram Recycling IPO total reservation shares are distributed between the below-mentioned categories.
| Category | No. of Shares |
| QIB Share Offered | Not more than 50% of the issue size |
| RII Share Offered | Not less than 35% of the issue size |
| NII Share Offered | Not less than 15% of the issue size |
Siyaram Recycling IPO – Market Lot Size
An individual investor can apply for a minimum of 1 lot of 3000 Shares and a maximum of 1 lot of 3000 shares. Market lot sizes for retail investors are as follows:
| Application | Lot Size | No. of Shares | Amount (Rs.) |
| Retail Minimum | 01 | 3000 | 1,38,000 |
| Retail Maximum | 01 | 3000 | 1,38,000 |
Siyaram Recycling IPO – Prospectus
An investor can download/view the Siyaram Recycling prospectus copy, which the company filed to SEBI, details are as follows.
| Siyaram Recycling IPO Prospectus | Download/View Links |
| Draft Red Herring Prospectus (DRHP) | Click here |
| Red Herring Prospectus (RHP) | Click here |
Siyaram Recycling IPO Registrar
Cameo Corporate Services Limited
Tel No.: +91-4440020700
E-Mail: ipo@cameoindia.com
Website: www.cameoindia.com
Siyaram Recycling IPO lead manager
HEM Securities Limited
Tel No.: +91-22 49060000
E-Mail: ib@hemsecurities.com
Website: www.hemsecurities.com
Siyaram Recycling IPO Application (How to Apply for an IPO)
There are four primary options for applying for a Siyaram Recycling IPO, details are as follows:
Option-1 Apply for IPO through Internet Banking
Step-1. Log into your bank account.
Step-2. In the invest Tab, you will see ASBA, click on it.
Step-3. Choose to apply for IPO and select the ongoing IPO “Siyaram Recycling Limited”
Step-4. Enter the basic details like bid quantity, price, PAN, etc. then proceed with payment.
Step-5. After the above steps, the respective amount will get blocked till the allotment date, and after it will get a refund/debited in case of rejection/allotment respectively.
Option-2 Apply for IPO through a Broker firm
Step-1. Log into your broker account (e.g. Upstox/Zerodha etc.)
Step-2. Click on the IPO tab and select the ongoing IPO “Siyaram Recycling Limited”
Step-3. Enter the basic details like bid quantity, price, PAN, etc. then enter UPI ID and proceed with payment.
Step-4. Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your account or refunded in case no allotment is made to you.
Option-3 Apply for IPO Offline Mode Bank mode
Step-1. Visit the nearest branch of your bank.
Step-2. Fill out the ASBA form and submit it with KYC details.
Step-3. Your funds will get blocked, and once shares have been allotted to you, the respective amount will get debited from your bank account or refunded in case no allotment is made to you.
Option – 4 Apply for IPO through Stock Exchanges
NSE Form – Click to download
BSE Form – Click to download
Submit the form with your bank/broker.
Siyaram Recycling Company Details
Siyaram Recycling Limited
Registered Office: Plot no. 6 & 7, Village, Lakhabaval Post, Khodiyar Colony, Jamnagar-361006, Gujarat
Tel. No: +91-75750 20500
Email: cs@siyaramindustries.co.in
Website: www.siyaramindustries.co.in
Investor Grievances/Compliance Officer: K P Goklani
Siyaram Recycling Subsidiary Companies (Top 2)
| Serial No. | Name of Companies |
| 01. | – |
| 02. | – |
Siyaram Recycling Company Board (Top 2)
| Serial No. | Name of Directors |
| 01. | R. O. Maheshwari |
| 02. | B. R. Maheshwari |
Siyaram Recycling IPO – Frequently Asked Questions (FAQs)
Q-1 What is Siyaram Recycling IPO?
Ans: Siyaram Recycling brings its IPO of Rs. 22.96 crores, on December 14, 2023, with a price band of Rs. 43-46 per share.
Q-2 What is the Siyaram Recycling IPO Open date?
Ans: Siyaram Recycling IPO’s opening date is December 14, 2023.
Q-3 What is the Siyaram Recycling IPO Close Date?
Ans: Siyaram Recycling IPO’s closing date is December 18, 2023.
Q-4 What is the Siyaram Recycling IPO Listing date?
Ans: Siyaram Recycling IPO listing date is December 21, 2023.
Q-5 What is the Siyaram Recycling IPO Minimum investment amount?
Ans: Siyaram Recycling IPO minimum investment amount is Rs. 1,38,000.
Q-6 What is the Siyaram Recycling IPO offer issue Size?
Ans: Siyaram Recycling offers an issue size of Rs. 22.96 crores.
Q-7 What is the Siyaram Recycling IPO Price Band?
Ans: Siyaram Recycling’s IPO price band is Rs. 43-46 per share.
Q-8 Is Siyaram Recycling IPO mainboard IPO or SME IPO?
Ans: Siyaram Recycling IPO is an SME IPO.
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