
Emerging SME Services · BSE
Siyaram Recycling Industries Ltd, incorporated in 2007, specializes in the separation of brass scrap and the manufacturing of brass ingots, billets, rods, and brass-based components, particularly sanitary fittings. The company operates three plants in Jamnagar, a key hub for brass component production. Unit I, covering 4,970 square meters, handles the production of brass billets, ingots, rods, and plumbing parts, while Unit II, spanning 3,629 square meters, focuses on manufacturing brass sanitary parts. Unit III, with an area of 3,346 square meters, is primarily used for brass scrap separation. In 2023, the company reported revenue from operations of ₹492.87 million, with 67.06% generated domestically and 32.94% from international markets. Siyaram Recycling Industries distributes its products across 18 states and Union Territories in India, with Gujarat contributing the highest share of revenue at 56.40%, followed by Madhya Pradesh (5.25%), Punjab (2.03%), and Rajasthan (1.41%). The company also exports to countries like China, Germany, Belgium, and Oman.
Price Band
₹43 – ₹46
Issue Size
₹22.96 Cr
Lot Size
3000 shares
GMP
+78.3%
Est. Listing
₹82
at current GMP
Subscribed
385.26x
overall
Open
14 Dec 2023
Close
18 Dec 2023
Allotment
19 Dec 2023
Refund
20 Dec 2023
Demat Credit
21 Dec 2023
Listing
21 Dec 2023
Overall Subscription
385.26x
Total Demand
QIB Multiplier
96.43x
Institutions & Funds
NII / HNI
598.08x
High Net-Worth
Retail (RII)
459.11x
Individual Bidders
Live bidding breakdown by institutional, non-institutional, and retail investors
| Category | Shares Offered | Shares Applied / Bid | Times Subscribed |
|---|---|---|---|
| QIB | 948,000 | 91,413,000 | 96.43x |
| NIB | 711,000 | 425,232,000 | 598.08x |
| RETAIL | 1,659,000 | 761,658,000 | 459.11x |
| Total | 3,318,000 | 1,278,303,000 | 385.26x |
Total unique applications received across retail and HNI tranches
| Category | Applications Reserved | Applications Received | Times Subscribed |
|---|---|---|---|
| Retail (RII) | 582 | 267,202 | 459.11x |
| HNIs (10L +) | 4 | 2,392 | 598.08x |
| HNIs (2-10L) | 18 | 10,765 | 598.08x |
| Total Applications | 604 | 280,359 | 464.17x |
Track continuous institutional and retail bidding order books for all active issues on the ipo live subscription feed.
Siyaram Recycling Industries Limited is bringing an initial public offering (IPO) in the Emerging SME Services sector with an aggregate issue size of ₹22.96 Crores. The shares are offered at a price band of ₹43 to ₹46 per equity share on BSE. Currently, investors are tracking the grey market premium (GMP) and institutional subscription multiples closely across BSE and NSE portals.
The public offer consists of a fresh issue and offer-for-sale structured under SEBI regulations. Bidding is open to Qualified Institutional Buyers (QIB), Non-Institutional Bidders (NII/HNI), and Retail Individual Investors (RII). Applications can be submitted online using ASBA or UPI mandate through certified stock brokers and net banking portals.
Following the close of bidding on 2023-12-18, the basis of allotment is scheduled to be finalized on 2023-12-19. Investors can verify their application status online by submitting their PAN card number, Application Number, or DP Client ID on the registrar's official portal (Cameo Corporate Services Limited) or the BSE allotment checking window.
The latest Grey Market Premium (GMP) for Siyaram Recycling Industries Limited IPO is ₹36 per equity share. Based on the upper price band of ₹43 to ₹46 per equity share, the estimated listing price is ₹82 (+78.3% expected listing gain).
With a lot size of 3000 shares and current GMP of ₹36, the expected profit per application lot is approx ₹1,08,000 (+78.3% gain). Minimum application cost is approx ₹1,38,000.
The Siyaram Recycling Industries Limited IPO aggregate issue size is ₹22.96 Crores with an equity price band set at ₹43 to ₹46 per equity share. The retail lot size is 3000 shares requiring a minimum capital outlay of approx. ₹1,38,000.
Live subscription figures are compiled real-time from the NSE and BSE bidding engines. Currently, overall subscription is 385.26x (Retail: 459.11x, QIB: 96.43x, NII: 598.08x). You can track live multiples directly on our dedicated subscription page.
The basis of allotment will be published on the official registrar portal (Cameo Corporate Services Limited) and the BSE status verification website on or around 2023-12-19. Investors can verify status using PAN card or application number.
Siyaram Recycling Industries Limited shares are scheduled to list on BSE on 2023-12-21.