{"id":29371,"date":"2024-05-01T16:59:27","date_gmt":"2024-05-01T11:29:27","guid":{"rendered":"https:\/\/dailynewsindia.co.in\/index.php\/2024\/05\/01\/sai-swami-metals-and-alloys-limited-ipo-opens-on-april-30-2024\/"},"modified":"2024-05-01T16:59:27","modified_gmt":"2024-05-01T11:29:27","slug":"sai-swami-metals-and-alloys-limited-ipo-opens-on-april-30-2024","status":"publish","type":"post","link":"https:\/\/dailynewsindia.co.in\/index.php\/2024\/05\/01\/sai-swami-metals-and-alloys-limited-ipo-opens-on-april-30-2024\/","title":{"rendered":"Sai Swami Metals and Alloys Limited IPO Opens on April 30, 2024"},"content":{"rendered":"<div>\n<p><strong>Mumbai (Maharashtra) [India],May 1:<\/strong> Sai Swami Metals and Alloys Limited,\u00a0one of the\u00a0leading\u00a0players\u00a0in\u00a0trading and marketing of a comprehensive array of stainless-steel products, has announced its plan to go public with an Initial Public Offering (IPO)\u00a0on\u00a0April\u00a030, 2024. The company is aiming to raise\u00a0\u20b9\u00a015Crore\u00a0at the price of\u00a0\u20b9\u00a060\u00a0per share\u00a0through this IPO, with shares set to be listed on the\u00a0BSE SME\u00a0platform.<\/p>\n<p>The issue size is Up to\u00a025,00,000\u00a0equity\u00a0shares at face value of\u00a0\u20b9\u00a010 each.\u00a0<\/p>\n<p><strong>Equity Share Allocation<\/strong><\/p>\n<ul>\n<li>\u00a0Non-Institutional Investors (NII) \u2013\u00a0Up To\u00a011,86,000Equity Shares<\/li>\n<li>Retail Individual Investors (RII) \u2013\u00a0Up To\u00a011,86,000Equity Shares<\/li>\n<li>\u00a0Market Maker \u2013\u00a0Up To\u00a01,28,000\u00a0Equity Shares<\/li>\n<\/ul>\n<p>The net proceeds from the IPO will be utilized to meet Incremental Working Capital Requirements, Invest in Subsidiary Companies, Purchase Machinery, and for General Corporate Purposes.\u00a0The Issue closes\u00a0on\u00a003rd\u00a0May\u00a02024.<\/p>\n<p>The Lead Manager to the Issue\u00a0is\u00a0Swastika\u00a0InvestmartLimited.\u00a0The Registrar to the Issue is\u00a0Bigshare\u00a0Services Private Limited.<\/p>\n<p>Mr. Nipun\u00a0Anantlal\u00a0Bhagat,\u00a0Chairperson\u00a0&amp;\u00a0Managing Director\u00a0of\u00a0Sai Swami Metals and Alloys Limitedexpressed,\u00a0\u201cThe opening of our Initial Public Offering\u00a0marks a significant milestone for Sai Swami Metals and Alloys Limited. This IPO is a pivotal moment for us as we continue to expand and innovate in the stainless-steel industry.\u00a0We have built a reputation for delivering high-quality stainless-steel kitchenware products under our esteemed brand\u00a0\u2018DOLPHIN\u2019.\u00a0<\/p>\n<p>This strategic allocation of funds will not only enhance our operational efficiency but also strengthen our market position and facilitate further growth and expansion. By investing in subsidiary companies and purchasing advanced machinery, we aim to enhance our production capabilities and broaden our product offerings, thereby catering to a larger customer base.\u00a0We are excited about the opportunity this IPO brings and look forward to further strengthening our position in the market.\u201d<\/p>\n<p>Mr. Sunil Nyati of Swastika Investmart Limited said, \u201cSai Swami Metals and Alloys Limited has demonstrated strong growth and a commitment to quality and innovation in the stainless-steel industry. The strategic utilization of net proceeds reflects the company\u2019s vision and growth plans. We believe that Sai Swami Metals and Alloys Limited\u2019s IPO represents a significant milestone in the company\u2019s journey and underscores its potential for future success.\u201d<\/p>\n<p><em>If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai (Maharashtra) [India],May 1: Sai Swami Metals and Alloys Limited,\u00a0one of the\u00a0leading\u00a0players\u00a0in\u00a0trading and marketing of a comprehensive array of stainless-steel products, has announced its plan to go public with an Initial Public Offering (IPO)\u00a0on\u00a0April\u00a030, 2024. The company is aiming to raise\u00a0\u20b9\u00a015Crore\u00a0at the price of\u00a0\u20b9\u00a060\u00a0per share\u00a0through this IPO, with shares set to be listed on the\u00a0BSE&#8230;<\/p>\n<p class=\"more-link-wrap\"><a href=\"https:\/\/dailynewsindia.co.in\/index.php\/2024\/05\/01\/sai-swami-metals-and-alloys-limited-ipo-opens-on-april-30-2024\/\" class=\"more-link\">Read More<span class=\"screen-reader-text\"> &ldquo;Sai Swami Metals and Alloys Limited IPO Opens on April 30, 2024&rdquo;<\/span> &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":29372,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[54],"class_list":["post-29371","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts\/29371","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/comments?post=29371"}],"version-history":[{"count":0,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/posts\/29371\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/media\/29372"}],"wp:attachment":[{"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/media?parent=29371"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/categories?post=29371"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailynewsindia.co.in\/index.php\/wp-json\/wp\/v2\/tags?post=29371"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}