Siyaram Recycling Industries Limited IPO : Key Dates

Siyaram Recycling Industries Limited IPO is set to launch on 14 December, 2023. The company initiated its business operations in the year 20207. It is involved in the business of manufacturing brass ingots, segregation of brass scrap, manufacturing billets and brass rod. The manufacturing facility of the company has been divided into three parts with one area of 4970 sq mtrs., another of 3346 sq mtrs and the last one of 3629 sq mtrs. The sales and marketing of the company’s products is done in more than 18 states and in countries like China, Belgium, Germany and Oman. 

Siyaram Recycling Industries Limited IPO DETAILS

Siyaram Recycling Industries Limited IPO is set to launch on 14 December, 2023. The subscription timeline extends till 18 December, 2023. The size for the IPO is 22.96 Crore Rs. Shares issued through fresh issue mode are worth 22.96 Crore Rs. No shares are issued through offer for sale mode. The lot size is 3000 shares and the price is 43 Rs to 46 Rs per share. The company is going to get listed at BSE SME. The face value per share is Rs.10 and this is a Book Built issue. The registrar for the company is Cameo Corporate Services Limited.

Tabular Description of Siyaram Recycling Industries Limited IPO 

Siyaram Recycling Industries Limited IPO : IMPORTANT DATES

Siyaram Recycling Industries Limited IPO begins for subscription from 14 December, 2023. The IPO subscription would continue till 18 December, 2023. The allotment status for the shareholders who applied would come on 19 December, 2023. The refunds for the ones who did not get allotment would be initiated on 20 December, 2023. The DEMAT accounts of shareholders would be credited on 20 December, 2023. The listing of the company would be completed on 21 December, 2023.

Siyaram Recycling Industries Limited IPO : Lead Managers

The lead managers are :

• Hem Securities Limited

The minimum lot size for the company is decided at 3000 shares. This holding accounts to 138000 Rs.. The maximum lot size is decided at 6000 shares (HNI). This amounts to 276000 Rs.. Hence the company’s final holdings would be set as :

OBJECTIVES FOR THE IPO

• IPO proceeds would be used for general corporate purposes.
• The company will use the IPO money for further working capital requirements.

COMPANY FINANCIALS

Siyaram Recycling Industries Limited had an asset base of 9823 Lakh rs in 2021. This increased to a mega 9851 Lakh Rs in 2022. The asset base of the firm was 15136 Lakh Rs in 2023. The revenue of the firm was 13972 Lakh Rs in 2021 which increased to 42644 Lakh Rs in 2022. This increased again in 2023 to a mighty 49786 Lakh Rs. The profit of the firm was 142 Lakh Rs in 2021. This increased to 322 Lakh Rs in 2022 and the profit for the year 2023 was a mega 765 Lakh Rs.

PROS

• The manufacturing facility of the company has been divided into three parts with one area of 4970 sq mtrs., another of 3346 sq mtrs and the last one of 3629 sq mtrs. 
• The sales and marketing of the company’s products is done in more than 18 states and in countries like China, Belgium, Germany and Oman. 

CONS

• The company works in a highly competitive segment.

Siyaram Recycling Industries Limited IPO Application Process with Zerodha

It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :

1.   Logging into Zerodha console through its website or KITE platform. Clicking the IPO section present in the ORDER tab.
2.   Click the Siyaram Recycling Industries Limited IPO button and press the BID button.
3.   Entering the details asked for like UPI ID, Quantity and price.
4.   Submit the application form for the IPO.
5. Visiting the application of UPI for approving the transaction.

Now, applying for an IPO online is possible with most of the Discount and online brokers.