Siyaram Recycling Industries IPO to Launch on 16 December 2023

Siyaram Recycling Industries IPO: A Revolutionary Step in the Brass Plumbing and Sanitary Component Manufacturing Industry

📅 IPO Launch Date: Thursday, 14th December 2023

🚀 Company’s IPO Receives Overwhelming Response: Siyaram Recycling Industries has witnessed a tremendous response from investors on the first day of its IPO launch. The IPO has been listed on the SME IPO and book-built issue platforms.

💰 Impressive Grey Market Performance: Siyaram Recycling Industries’ shares are currently trading at a premium of ₹28 in the grey market. This indicates a significant increase of 60.87% compared to the IPO price band.

💼 Company Details: Siyaram Recycling Industries has set the IPO price band between ₹43 and ₹46. The IPO subscription rate on the launch day was 8.16 times the total number of IPO stocks available.

📈 Listing Date: The company’s IPO stocks will be listed on the stock exchange on 21st December 2023. Siyaram Recycling Industries aims to raise ₹22.96 crores through this IPO, issuing 49.92 lakh fresh equity shares.

🤝 Retail Investors’ Requirements: Retail investors will need to deposit a minimum of ₹138,000 to purchase a lot of 3,000 shares under the IPO.

🏢 Appointment of Key Players: Hem Securities has been appointed as the book-running lead manager for the company’s IPO, while Kamya Corporate Services has been appointed as the IPO registrar.

👥 Promoters’ Group: Siyaram Recycling Industries’ promoters include Dwarkadhish Venture Private Limited, Ramgopal Ochhaval Maheshwari, Bhavesh Ramgopal Maheshwari, and Madhu Ramgopal Maheshwari. The funds raised through the IPO will be used to repay debts and for general corporate purposes.

🔄 Company Overview: Siyaram Recycling Industries primarily operates in the brass plumbing manufacturing industry. The company reported a net profit of ₹3.22 crores in the financial year 2022, which has now increased to ₹7.65 crores in 2023. Furthermore, the company’s revenue collection has grown from ₹426.44 crores to ₹497.86 crores in the financial year 2023.

Don’t miss out on this groundbreaking IPO that promises significant growth and potential in the brass plumbing and sanitary component manufacturing sector. Invest wisely and reap the rewards! 💼📈🚀

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