Sai Swami Metals and Alloys IPO listing: Shares open with 90% premium on BSE SME

Sai Swami Metals and Alloys IPO made a stellar debut on the BSE SME today. Sai Swami Metals share price opened at ₹114- 90% higher than the issue price of ₹60. The IPO opened on April 30 and closed on May 3. It had a price band of ₹60 for each equity share with a face value of ₹10 and the lot size consisted of 2,000 shares.

Sai Swami Metals and Alloys IPO: The IPO opened on April 30 and closed on May 3. It had a price band of ₹60 for each equity share with a face value of ₹10.

Sai Swami Metals and Alloys company profile

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Sai Swami Metals and Alloys trades and markets a variety of stainless steel products which includes kitchenware goods, dinner sets, stainless steel sheets, stainless steel circles, casseroles, multikadais, and various utensils as well as basic raw materials like stainless steel sheet, coil, scrap, pipe, mild steel round (M.S. Round).

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Sai Swami Metals and Alloys IPO details

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Sai Swami Metals and Alloys IPO comprises of a fresh issue of 25,00,000 equity shares having a face value of ₹10. There was no offer-for-sale component. The company said that it will use net proceeds from the IPO for machinery purchases, general business objectives, subsidiary company investments and working capital needs.

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Bigshare Services Pvt Ltd is the registrar for the Sai Swami Metals & Alloys IPO. Swastika Investmart Ltd is the book running lead manager while the market maker for the Sai Swami Metals & Alloys IPO is Sunflower Broking.

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