Siyaram Recycling Industries Limited is set to launch its IPO, which is a book-built issue of Rs 22.96 crores. The IPO is entirely a fresh issue of 49.92 lakh shares, and it will open for subscription from December 14, 2023, to December 18, 2023. The tentative listing date on BSE SME is Thursday, December 21, 2023. Here are the key details:
### Siyaram Recycling IPO Details:
– **IPO Date:** December 14, 2023, to December 18, 2023
– **Listing Date:** [Not specified]
– **Face Value:** ₹10 per share
– **Price Band:** ₹43 to ₹46 per share
– **Lot Size:** 3000 Shares
– **Total Issue Size:** 4,992,000 shares (aggregating up to ₹22.96 Cr)
– **Fresh Issue:** 4,992,000 shares (aggregating up to ₹22.96 Cr)
– **Issue Type:** Book Built Issue IPO
– **Listing At:** BSE SME
– **Market Maker portion:** 252,000 shares (Hem Finlease)
### Siyaram Recycling IPO Reservation:
– **QIB Shares Offered:** Not more than 50% of the Net Issue
– **Retail Shares Offered:** Not less than 35% of the Net Issue
– **NII (HNI) Shares Offered:** Not less than 15% of the Net Issue
### Siyaram Recycling IPO Timeline (Tentative Schedule):
– IPO Opens: Thursday, December 14, 2023
– IPO Closes: Monday, December 18, 2023
– Basis of Allotment: Tuesday, December 19, 2023
– Initiation of Refunds: Wednesday, December 20, 2023
– Credit of Shares to Demat: Wednesday, December 20, 2023
– Listing Date: Thursday, December 21, 2023
– Cut-off time for UPI mandate confirmation: 5 PM on December 18, 2023
### Siyaram Recycling IPO Lot Size:
Investors can bid for a minimum of 3000 shares and in multiples thereof. The minimum and maximum investment for retail investors and HNI are detailed in the application table.
### Siyaram Recycling IPO Promoter Holding:
– **Promoters:** Dwarkadhish Venture Private Limited, Ramgopal Ochhavlal Maheshwari, Bhavesh Ramgopal Maheshwari, and Madhu Ramgopal Maheshwari
– **Share Holding Pre Issue:** 100%
– **Share Holding Post Issue:** [Not specified]
### About Siyaram Recycling Industries Limited:
Incorporated in 2007, Siyaram Recycling Industries Ltd is involved in the separation of brass scrap, manufacture of brass ingots, billets, rods, and production of brass-based components. It operates three plants in Jamnagar district, a major center for brass components.
### Financial Information (Restated):
– **Revenue (FY2023):** ₹49,786.27 lakhs
– **Profit After Tax (FY2023):** ₹765.42 lakhs
– **Net Worth (FY2023):** ₹4,642.12 lakhs
– **Debt/Equity:** 1.44
### Key Performance Indicators:
– **P/E (x):** 8.3
– **Post P/E (x):** 10.9
– **ROE:** 17.97%
– **ROCE:** 13.42%
– **EPS (Rs):** 5.54
– **RoNW:** 16.49%
### Objects of the Issue:
The Net Proceeds from the IPO will be utilized for the repayment of a portion of certain borrowing availed by the Company and general corporate purposes.
### Siyaram Recycling IPO Review:
According to [Dilip Davda], the company is engaged in brass products and components. It has shown erratic financial performance so far with significant profits from FY23 onwards. Based on super annualized FY24 earnings, the issue appears fully priced. Well-informed investors may consider parking funds for the medium term.
### Siyaram Recycling IPO Prospectus:
– [Siyaram Recycling IPO DRHP](#) (Draft Red Herring Prospectus)
– [Siyaram Recycling IPO RHP](#) (Red Herring Prospectus)
– [Anchor Investors in Siyaram Recycling IPO](#)
For more detailed information, investors are advised to refer to the prospectus documents.
