Shayona Engineering IPO: The initial public offering (IPO) of Shayona Engineering kicked off for bidding on Thursday, January 22. The offer is available for public subscription till January 27.
The company, engaged in providing customized solutions for precision castings in special grades, is looking to raise ₹14.86 crore via the book-building process.
Shayona Engineering IPO is entirely a fresh issue of 0.10 crore shares. The SME IPO’s price band is set at ₹140 to ₹144 per share. Investors can apply for the offer in lots of 1000 shares, with retail investors required to bid for at least two lots.
Shayona Engineering plans to use the funds raised from the initial share sale for the purchase of plant and machinery for the existing line of business, repayment of secured loan availed by the company, funding working capital needs and general corporate purposes.
Shayona Engineering IPO allotment status is expected to be finalized on January 28, with the listing of Shayona Engineering shares on BSE SME likely on January 30.
Shayona Engineering IPO Subscription Status
According to data from Chittorgarh.com, Shayona Engineering IPO was booked 59% as of 1.15 pm on the first day of bidding, led by strong demand from non-institutional investors (NIIs). The NII quota was fully subscribed at 1.24 times so far.
The retail portion was booked 31%, and the qualified institutional buyer (QIB) segment received no bids yet.
Shayona Engineering IPO GMP today
Shayona Engineering IPO gray market premium (GMP) today was nil. This means that shares of Shayona Engineering are trading at par with the offer price in the gray market. At the current GMP, Shayona Engineering IPO listing price could be ₹144.
About Shayona Engineering
The company provides customized solutions for precision castings in special grades, with component weights ranging from a few grams to 3 metric tons in a single piece.
Its investment casting capabilities specialize in steel, stainless steel, and nickel-based alloys, with casting weights ranging from 60 grams to 70 kg per piece. The company manufactures complex investment-cast components with superior surface finishes, serving sectors such as pumps and valves, defense, medical, automotive, and oil & gas.
Disclaimer: This story is for educational purposes only. We advise investors to consult with certified experts before making any investment decisions.
