Sai Swami Metals & Alloys SME IPO.
Sai Swami Metals & Alloys SME IPO has mounted the value at Rs 60 per fairness share
Stainless-steel merchandise maker Sai Swami Metals & Alloys Ltd will hit the capital market on April 30 to lift round Rs 15 crore from public buyers. The preliminary public providing of the corporate will open for subscription on the SME platform of BSE on Tuesday and can shut on Might 3, the corporate stated in an announcement on Saturday.
The Ahmedabad-based firm, which manufactures stainless-steel cookware and home equipment underneath model DOLPHIN, has mounted the value at Rs 60 per fairness share. The IPO contains a contemporary concern of 25 lakh fairness shares of Rs 10 every. The corporate has mounted the retail particular person buyers’ quota for the IPO at 50 per cent of the online supply and the remaining 50 per cent for different buyers.
“The proceeds of the general public concern will likely be utilised to fund the corporate’s growth plans together with buy of machineries, funding in subsidiary firm, assembly working capital necessities and for common company functions,” the assertion stated. The corporate plans to utilise Rs 6 crore in the direction of working capital necessities, Rs 4 crore for investing in a subsidiary, Rs 2 crore for buying machineries and Rs 2 crore in the direction of common company objective.
Shares of the corporate will likely be listed on BSE SME platform. Swastika Investmart Ltd is the lead supervisor, whereas Bigshare Companies is the registrar of the difficulty.
Sai Swami Metals & Alloys is concerned within the buying and selling and advertising of a complete array of stainless-steel merchandise. For 9 months ended December 2023 , the corporate reported a web revenue of Rs 1.79 crore and income of Rs 33.33 crore. In 2022-23 fiscal 12 months, the corporate logged a web revenue of Rs 3.83 lakh and a income of Rs 6.27 crore.
