Updated Apr 28, 2024, 11:38 IST
The Sai Swami Metals & Alloys IPO is set to list on BSE SME with a tentative listing date fixed for Wednesday, May 8, 2024. The IPO comprises a fresh issue of 25 lakh shares, with each share priced at Rs 60.
Sai Swami Metals & Alloys IPO Price Band (Image Source: iStockphoto)
Sai Swami Metals & Alloys, a prominent player in the stainless steel products market, is gearing up for its Initial Public Offering (IPO) worth Rs 15.00 crores. The IPO comprises a fresh issue of 25 lakh shares, with each share priced at Rs 60.
Sai Swami Metals & Alloys IPO Subscription Window
The retail investors will have the opportunity to subscribe to the Sai Swami Metals & Alloys IPO starting from April 30, 2024, until May 3, 2024.
Sai Swami Metals & Alloys IPO Allotment Date
The allotment process of Sai Swami Metals & Alloys IPOis scheduled to be finalized by Monday, May 6, 2024.
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Sai Swami Metals & Alloys IPO Listing Date
The Sai Swami Metals & AlloysIPO is set to list on BSE SME with a tentative listing date fixed for Wednesday, May 8, 2024.
Sai Swami Metals & Alloys IPO Investment Requirements and Lot Sizes
For retail investors, the minimum lot size for an application is 2000 shares, requiring a minimum investment of Rs 120,000. High Net Worth Individuals (HNI) are required to invest in a minimum of 2 lots, totaling 4,000 shares, amounting to Rs 240,000.
Key Players and Market Dynamics
Swastika Investmart Ltd has been appointed as the book running lead manager for the Sai Swami Metals & Alloys IPO, while Bigshare Services Pvt Ltd will serve as the registrar for the issue. Sunflower Broking will act as the market maker for the IPO, facilitating trading activities.
Company Profile and Product Range
Founded in September 2022, Sai Swami Metals and Alloys Pvt. Ltd. specializes in trading a diverse range of stainless steel products catering to various customer needs. Its product line includes kitchenware items such as Dinner Sets, SS Casseroles, SS Multi Kadai, SS Water Bottles, Stainless Steel Sheets, Stainless Steel Circles, and various utensils.
The company’s Dolphin brand is renowned for its quality stainless steel kitchenware products marketed by Sai Swami Metals and Alloys Pvt. Ltd. and its subsidiaries, Bhagat Marketing Private Limited and Dhruvish Metals LLP.
Use of IPO Procedures
The proceeds from the IPO’s Fresh Issue will be allocated towards meeting incremental working capital requirements, investing in subsidiary companies, purchasing machinery, and serving general corporate purposes.
