Sai Swami Metals and Alloys share price makes a stellar debut, stock opens with 90% premium at ₹114 apiece on BSE SME
- Sai Swami Metals and Alloys share price had a successful debut on BSE SME, with the share price opening 90% higher than the issue price.
Sai Swami Metals and Alloys share price made a blockbuster debut on BSE SME today. Sai Swami Metals share price opened at ₹114, which is 90% higher than the issue price of ₹60.
Sai Swami Metals and Alloys IPO began accepting subscriptions on Tuesday, April 30, and ended on Friday, May 3. The IPO price band for Sai Swami Metals and Alloys was set at ₹60 for each equity share with a face value of ₹10. Sai Swami Metals and Alloys IPO lot size consisted of 2,000 shares.
According to the Red Herring Prospectus (RHP), the company actively trades and markets a variety of stainless steel products to satisfy the diverse needs of the discerning customer base. The company's product range includes a wide variety of kitchenware goods, such as dinner sets, stainless steel sheets, stainless steel circles, casseroles, multikadais, and various utensils. Additionally, the company trades basic raw materials for a variety of customers, including stainless steel sheet, coil, scrap, pipe, mild steel round (M.S. Round), and so on.
Sai Swami Metals and Alloys Limited, through its subsidiaries Dhruvish Metal Industries LLP and Bhagat Marketing Private Limited, maintains a varied presence in the stainless-steel cookware sector. By guaranteeing that its products are widely accessible through a smart network of distributors, dealers, and retailers across India, the company further strengthens its reputation as a trustworthy brand in the marketplace.
Sai Swami Metals and Alloys IPO details
The approximately ₹15 crore Sai Swami Metals and Alloys IPO comprises of a fresh issue of 25,00,000 equity shares having a face value of ₹10. There is no offer-for-sale component.
The new issuance's proceeds will be applied to machinery purchases, general business objectives, subsidiary company investments, and the fulfilment of extra working capital needs.
Bigshare Services Pvt Ltd is the registrar for the Sai Swami Metals & Alloys IPO, while Swastika Investmart Ltd is the book running lead manager. The market maker for the Sai Swami Metals & Alloys IPO is Sunflower Broking.
Sai Swami Metals and Alloys IPO GMP today
Sai Swami Metals IPO GMP today is +50. This indicates Sai Swami Metals and Alloys share price were trading at a premium of ₹50 in the grey market, according to investorgain.com.
When the upper end of the IPO pricing range and the present premium on the grey market are taken into consideration, it is projected that Sai Swami Metals and Alloys shares will list at a price of ₹110 a share, which is 83.33% more than the IPO price of ₹60.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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