IPO for Sai Swami Metals & Alloys In contrast to the net issue size of 23,72,000 equity shares on sale, bids for 128.98 crore equity shares were received for the SME IPO resulting in an oversubscription of more than 543 times.
Last day of the IPO Sai swami Metals
Sai Swami Metals & Alloys IPO:
On the last day of bidding on Friday, more than 543 bids were placed in the Rs 15-crore initial public offering of Sai Swami Metals & Alloys Ltd. In contrast to the net issue size of 23,72,000 equity shares on sale, bids for 128.98 crore equity shares were received for the SME IPO, resulting in an oversubscription of more than 543 times.
The portion reserved for retail investors was subscribed 533 times, out of 11,86,000 equity shares that were received in applications for 62,74,02,000 equity shares. offer, the data on exchanges revealed. income of Rs 6.27 crore and a profit of Rs 3.83 lakh.
The category for non-retail investors saw 538 subscriptions, with bids totaling 63,32,50,000 stock shares versus the 11,86,000 equity shares that were being offered.
The business, which markets appliances and cookware under the Dolphin brand, will float its shares on the BSE SME platform on May 8.
Sai Swami Metals & Alloys, a company based in Ahmedabad that manufactures appliances and cookware made of stainless steel, opened for subscriptions on April 30.
The offering included a new 25 lakh equity share offering. The price per share was established by the firm at Rs 60. For the IPO, it has set aside 50% of the net offer for retail individual investors and the remaining 50% for other investors.
Alloys & Metals Sai Swami Ltd. gathered from the general public approximately Rs 15 crore.
The company’s expansion ambitions, which include the purchase of machinery, investments in subsidiary companies, the fulfillment of working capital requirements, and general corporate purposes, will be financed with the proceeds of the public offering.
The business intends to use Rs 6 crore for working capital needs, Rs 4 crore for subsidiary investment, Rs 2 crore for machinery acquisition, and Rs 2 crore for general corporate purposes.
An extensive range of stainless steel goods are traded and marketed by Sai Swami Metals & Alloys.
The company had a revenue of Rs 33.33 crore and a net profit of Rs 1.79 crore for the nine months that concluded in December 2023. During the fiscal year 2022–2023 the corporation recorded a net.
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