The Sai Swami Metals & Alloys IPO is set to open on April 30, 2024, and will close on May 3, 2024, with the aim of raising approximately ₹15 crores through the issuance of 2,500,000 equity shares. The IPO price band is fixed at ₹60 per equity share, with a face value of ₹10 per equity share. It will be listed on the BSE SME platform.
Sai Swami Metals & Alloys is actively engaged in trading and marketing a wide range of stainless steel products, catering to various needs of customers.
Their product portfolio includes stainless steel kitchenware such as Dinner Sets, S.S. Casseroles, S.S. Multi Kadai, S.S. Water Bottles, Stainless Steel Sheets, and Circles, among others. Additionally, they trade basic raw materials like S.S. Patta, S.S. Sheet, S.S. Coil, S.S. Scrap, and M.S. Round.
The company and its subsidiaries specialize in trading stainless steel kitchenware products under the brand “DOLPHIN.” They collaborate with Dhruvish Metals LLP, a subsidiary, for sourcing complete kitchenware products. This strategic integration ensures quality control and a streamlined production process.
Sai Swami Metals & Alloys has appointed experienced sales personnel and established a wide distribution network, including distributors, sub-dealers, stockists, and retailers across India, ensuring the widespread availability of their products.
The proceeds from the IPO will be utilized for various purposes, including meeting incremental working capital requirements, investing in subsidiary companies, purchasing machinery, and general corporate purposes.
Financially, the company has shown growth, with revenue increasing from ₹6.27 crores in 2023 to ₹33.34 crores in December 2023. The valuation metrics for FY2023 include an EPS of ₹38.28, P/E ratio of 1.57, and RoNW of 10.84%.
Sai Swami Metals & Alloys IPO offers a minimum market lot of 2000 shares, with a retail minimum application of ₹120,000. The IPO allotment is expected to be finalized on May 6, 2024, with refunds and credit to demat accounts scheduled for May 7, 2024. The listing date is projected to be May 8, 2024.
Investors can apply for the IPO via ASBA available in their bank accounts or by downloading IPO forms from the BSE website.
