Sai Swami Metals & Alloys IPO has began accepting subscriptions today, Tuesday, April 30, and will end on Friday, May 3. The IPO price band for Sai Swami Metals & Alloys has been set at ₹60 for each equity share with a face value of ₹10. Sai Swami Metals & Alloys IPO lot size consists of 2,000 shares. Applications have to include a minimum of 2,000 equity shares; after that, multiples of 2,000 equity shares will be considered.
According to the Red Herring Prospectus (RHP), the company actively trades and markets a variety of stainless steel products to satisfy the diverse needs of the discerning customer base. The company’s product range includes a wide variety of kitchenware goods, such as dinner sets, stainless steel sheets, stainless steel circles, casseroles, multikadais, and various utensils. Additionally, the company trades basic raw materials for a variety of customers, including stainless steel sheet, coil, scrap, pipe, mild steel round (M.S. Round), and so on.
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Sai Swami Metals and Alloys Limited, through its subsidiaries Dhruvish Metal Industries LLP and Bhagat Marketing Private Limited, maintains a varied presence in the stainless-steel cookware sector. By guaranteeing that its products are widely accessible through a smart network of distributors, dealers, and retailers across India, the company further strengthens its reputation as a trustworthy brand in the marketplace.
TTK Prestige, which has a P/E of 60.51, is the company’s listed peer according to RHP.
Sai Swami Metals & Alloys IPO Subscription Status
Sai Swami Metals & Alloys IPO subscription status is 16.76 times, on day 1, so far.
The retail portion has been subscribed 24.45 times, and NII portion has been booked 9.07 times.
The company has received bids for 3,97,64,000 shares against 23,72,000 shares on offer, at 15:45 IST, according to data on chittorgarh.com.
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Sai Swami Metals & Alloys IPO details
The approximately ₹15 crore Sai Swami Metals & Alloys IPO comprises of a fresh issue of 25,00,000 equity shares having a face value of ₹10. There is no offer-for-sale component.
The new issuance’s proceeds will be applied to machinery purchases, general business objectives, subsidiary company investments, and the fulfillment of extra working capital needs.
Bigshare Services Pvt Ltd is the registrar for the Sai Swami Metals & Alloys IPO, while Swastika Investmart Ltd is the book running lead manager. The market maker for the Sai Swami Metals & Alloys IPO is Sunflower Broking.
The Sai Swami Metals & Alloys IPO basis for share allocation is expected to be finalised on Monday, May 6. Refunds will start on Tuesday, May 7. The shares will be paid to the allottees’ demat account the day after the refund. On Wednesday, May 8, Sai Swami Metals & Alloys share price is likely to be listed on BSE SME.
According to Nipun Anantlal Bhagat, managing director and chairperson of Sai Swami Metals and Alloys Limited, the company’s announcement of the IPO marks a significant turning point. This IPO represents a turning point for them as they grow and innovate within the stainless-steel industry. The company is well-known for manufacturing premium stainless steel cookware that is sold under the esteemed “DOLPHIN” brand.
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Sai Swami Metals & Alloys IPO GMP today
Sai Swami Metals & Alloys IPO GMP or grey market premium is +35. This indicates Sai Swami Metals & Alloys share price were trading at a premium of ₹35 in the grey market, according to investorgain.com.
It is anticipated that Sai Swami Metals & Alloys shares would list at a price of ₹95 per share, which is 58.33% higher than the IPO price of ₹60, after accounting for the upper end of the IPO pricing range and the current premium on the grey market.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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