Siyaram Recycling IPO Listing: Siyaram Recycling Industries made a decent stock market debut on Thursday as the shares were listed with a 19.57% premium to the issue price on BSE SME. Siyaram Recycling shares began trading at ₹55.00 apiece as against the IPO price of ₹46 per share.
Siyaram Recycling share price witnessed strong buying interest and the stock was locked at 5% upper circuit at ₹57.75 apiece after the listing. This led to a premium of 25.54% from the issue price.
The initial public offering (IPO) of the brass-based components manufacturer Siyaram Recycling Industries was an SME IPO and the shares are listed on the BSE SME platform.
The bidding for Siyaram Recycling IPO started on December 14 and ended on December 18. The company raised ₹22.96 crore from the IPO which was entirely a fresh issue of 49.92 lakh shares. The IPO price band was set at ₹43 to ₹46 per share.
Siyaram Recycling IPO allotment was finalized on Tuesday, December 19, 2023.
Hem Securities is the book running lead manager of the Siyaram Recycling IPO, while Cameo Corporate Services is the IPO registrar.
