Siyaram Recycling Industries Ltd, an established player in the brass recycling and manufacturing industry since 2007, is set to launch its Initial Public Offering (IPO) on December 14, 2023. The IPO, exclusively comprising a fresh issue of 49.92 lakh shares, aims to raise Rs 22.96 crores.
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Siyaram Recycling IPO ScheduleThe subscription window for the Siyaram Recycling IPO will open on December 14 and remain open until December 18, 2023.
Siyaram Recycling IPO Allotment DateSiyaram Recycling IPO is expected to be finalised on December 19, 2023.
Siyaram Recycling IPO Listing DateThe company plans to list on the BSE SME platform, with a tentative listing date scheduled for December 21, 2023.
Siyaram Recycling IPO Price BandThe price band for the IPO has been set between Rs 43 and Rs 46 per share.
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Retail investors can invest a minimum of Rs 138,000 for 3000 shares, the minimum lot size, while High Net-worth Individuals (HNIs) have a minimum lot size of 6,000 shares, amounting to Rs 276,000.
Hem Securities Limited is serving as the book running lead manager for the IPO, with Cameo Corporate Services Limited appointed as the registrar. The IPO also features a market maker.
Siyaram Recycling Industries, based in Jamnagar district, a renowned center for brass components, specializes in segregating brass scrap and producing brass ingots, billets, rods, and brass-based components, particularly for the plumbing and sanitary sectors.
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The company operates across three facilities, leveraging the district’s prominent position in the brass industry.
