Saini Alloys Limited IPO – Review, Allotment, Subscription, GMP, Date & more
Last Updated Date: Aug 24, 2022Saini Alloys Limited is a provider of customised manufacturer of quality steel products and casting engineering solutions in India for different industries such as Sugar Mills, Cement Plants, Sponge Iron Plants and Steel Plants. The Company has issued 20,67,000 Equity Shares of Rs. 10 each fully paid up for cash at a price of Rs.50 per Equity Share aggregating Rs.1033.50 Lakhs.
Let’s have a detailed review of the company and analytics of the Saini Alloys Limited IPO release date, IPO offer price, subscription, Saini Alloys Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Saini Alloys Limited IPO Review & Ratings
| Saini Alloys Limited IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 6.6/10 |
| Industry Ranking | 6.3/10 |
| Company Background | 6.4/10 |
| Company Reputation | 6.4/10 |
| Competitive Edge | 6.4/10 |
| Financial Statements | 6.5/10 |
| Popularity Index | 6.6/10 |
| Promoters Reputation | 6.3/10 |
| Retail Appetite | 6.2/10 |
| Top Brokers Review | 6.3/10 |
| Overall Ratings | 6.4/10 |
| Star Ratings | ★★★☆☆ |
Summary of Saini Alloys Limited IPO
Saini Alloys Limited is a provider of customized manufacturer of quality steel products and casting engineering solutions in India for different industries such as Sugar Mills, Cement Plants, Sponge Iron Plants and Steel Plants. The objective of the Company is to supply customized, high-quality material to its impressive and ever-growing clientele. Company provide 360 degree solutions by carrying out engineering, designing and deployment.
Saini Alloys manufacturing products includes Ingot, M.S. Pipes in Square and complete engineering casting & procurement for clients from different industries. Saini Alloys have organized retailers and stockist of HR Coils and CR Coils in Ghaziabad. HR coils is used as Raw material by various industries like ERW Pipe, Engineering, Steel fabricators etc.
The Promoter of this company is Mr. Ram Niwas Saini. The lead manager to the issue is KHAMBATTA SECURITIES LIMITED and the Registrar to this issue is BIGSHARE SERVICES PRIVATE LIMITED.
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Saini Alloys Limited IPO Date
The opening and the closing date of IPO of Saini Alloys Limited is not known yet.
Saini Alloys Limited IPO Subscription
| Subscription | |
| Day 1 | X |
| Day 2 | X |
| Day 3 | X |
| Day 4 | X |
| Day 5 | X |
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Saini Alloys Limited IPO Allotment Status
The Issue is being made through the Fixed Price Process wherein up to 1,11,000 Equity Shares shall be reserved for Market Maker upto 1,92,000 Equity shares will be allocated on a proportionate basis to Retail Individual Applicants, subject to valid applications being received from Retail Individual Applicants at the Issue Price. The balance of the Net Issue will be available for allocation on proportionate basis to Non Retail Applicants.
Saini Alloys Limited IPO Price Band
The face value of each share is Rs 10 and the price band of the IPO is Rs 50, so the premium price is Rs 40.
Saini Alloys Limited IPO Equity Share Offering
20,67,000 Equity Shares of Rs 10/- each at an Issue Price of Rs 50 aggregating to Rs.1033.50 lakhs.
Saini Alloys Limited – Company Overview
Saini Alloys Limited was incorporated as Saini Alloys Private Limited under the provisions of the Companies Act, 1956 vide certificate of incorporation dated October 28, 1999 in NCT of Delhi & Haryana. Subsequently, Saini Alloys was converted into a Public Limited Company pursuant to Shareholders Resolution passed at the Extra Ordinary General Meeting of the Company held on March 06, 2018 and the name of our Company was changed from “Saini Alloys Private Limited” to “Saini Alloys Limited” vide a fresh Certificate of Incorporation dated March 23, 2018 having CIN U27109DL1999PLC102203 issued by the Registrar of Companies, NCT of Delhi & Haryana.
Competitive Strengths of Saini Alloys Limited:
- Experienced & Qualified Team.
- Steady financial performance.
- Customer Centric Approach.
- Strong brands in the industry with over 15 years’ experience.
- Quality Assurance.
- Operational Excellence.
- Location of the Manufacturing Unit.
- Improving functional efficiency.
Business strategies of Saini Alloys Limited:
- Expand Geographical customer network.
- Expanding Design and Engineering Capabilities.
- Targeting New Customer Accounts and Expanding Existing Ones.
- Increasing Operational efficiency.
- To build-up a professional organization.
Saini Alloys Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakhs) | |||
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Total Assets | 5,032.07 | 4,693.22 | 7,667.25 |
| Total Revenue | 32,803.27 | 23,905.53 | 24,135.12 |
| Total Expense | 32,463.03 | 23,840.32 | 24,050.70 |
| Profit After Tax | 227.26 | 43.41 | 54.89 |
Earning Per Equity Share:
| March 31,2016 | March 31,2017 | March 31,2018 | |
| Basic and Diluted | 1.3 | 1.02 | 5.31 |
Saini Alloys Limited IPO – Promoters
The Promoter of this company is Mr. Ram Niwas Saini.
List of Related Parties (Key Managerial Personnel)
- Mr. Tushar Saini.
- Mr. Samir Kumar Jha.
Interest in promotion of the Company
Promoter may be deemed to be interested in the promotion of the Issuer to the extent of the Equity Shares held by him as well as his relatives and also to the extent of any dividend payable to him and other distributions in respect of the aforesaid Equity Shares. Further, Promoter may also be interested to the extent of Equity Shares held by or that may be subscribed by and allotted to companies and firms in which our promoter is interested as a director, member or partner
Interest as Director of the Company
None of the Directors are also interested to the extent of being Directors on the Board, as well as any remuneration, sitting fees and reimbursement of expenses payable to each of them.
Interest in the property of the Company
The Promoter does not have any interest in any property acquired by or proposed to be acquired by the Company two years prior to filing of the Draft Prospectus.
Saini Alloys Limited IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | 20,67,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 50/- per Equity Share aggregating Rs. 1,033.50 lakhs. |
| Of which: | |
| Reserved for Market Makers | 1,11,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 50/- per Equity Share aggregating Rs. 55.50 lakhs. |
| Net Issue to the Public | 19,56,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 50/- per Equity Share aggregating Rs. 978.00 lakhs. |
| Of which: | |
| Retail Investors Portion | 9,78,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 50/- per Equity Share will be available for allocation to investors up to Rs. 2.00 Lakhs |
| Non-Retail Investors Portion | 9,78,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 50/- per Equity Share will be available for allocation to investors above Rs. 2.00 Lakhs |
| Equity Shares outstanding prior to the Issue | 48,22,920 Equity Shares |
| Equity Shares outstanding after the Issue | 68,89,920 Equity Shares |
Saini Alloys Limited IPO Issue Object
These are the IPO Issue Objects of the company
- To Meet working capital requirement
- To Meet the Issue Expenses
Saini Alloys Limited IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Experienced Promoter and proficient management team with low attrition rates
- Established and proven track record
- Leveraging the experience of our Promoter
- Long standing relationship with the customers
- Location of Manufacturing units
- Quality Assurance & Control
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-16 | 1.30 | 0.06 | _ |
| 31-Mar-17 | 1.02 | 0.05 | _ |
| 31-Mar-18 | 5.31 | 0.19 | 27.49 |
- Industry P/E Ratio:
| Particulars | P/E ratio |
| Average | NA |
| Highest | NA |
| Lowest | NA |
Saini Alloys Limited IPO Lead Managers
| Lead Managers |
| KHAMBATTA SECURITIES LIMITED C-42, South Extension Part II, New Delhi-110049 Tel: 011-41645051, Fax: 011-41644896 Email: ipo@khambattasecurities.com Investor Grievance Email: mbcomplaints@khambattasecurities.com Website: www.khambattasecurities.com Contact Person: Mr. Vipin Aggarwal SEBI Registration No.: INM000011914 |
Saini Alloys Limited IPO Registrar to offer
| Registrar to the Offer |
| BIGSHARE SERVICES PRIVATE LIMITED Bharat Tin Workings Building, 1st Floor, Opp. Vasant Oasis, Marol Maroshi Road, Marol, Andheri- East, Mumbai – 400059 Maharashtra Tel: +91 22 62638200, Fax: +91 22 62638299 E-mail: ipo@bigshareonline.com, Website: www.bigshareonline.com Contact Person: Mr. Srinivas Dornala SEBI Registration No.: INR000001385 |
Other Details:
- Statutory Auditor – M/s Akhilesh Kumar, Chartered Accountants,
- Peer Review Auditor – VAPS & Co.
- Bankers to the Company –Indusind Bank Limited
Saini Alloys Limited IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 6.5/10 | 6.6/10 | 6.6/10 | 6.4/10 | 6.4/10 |
| Sharekhan | 6.7/10 | 6.4/10 | 6.6/10 | 6.1/10 | 6.2/10 |
| Kotak Securities | 6.7/10 | 6.7/10 | 6.7/10 | 6.4/10 | 6.3/10 |
| ICICI Direct | 6.6/10 | 6.3/10 | 6.7/10 | 6.5/10 | 6.5/10 |
| IIFL | 6.4/10 | 6.7/10 | 6.8/10 | 6.4/10 | 6.7/10 |
| Edelweiss | 6.7/10 | 6.4/10 | 6.4/10 | 6.3/10 | 6.7/10 |
| Zerodha | 6.5/10 | 6.4/10 | 6.7/10 | 6.4/10 | 6.5/10 |
| 5Paisa | 6.7/10 | 6.4/10 | 6.3/10 | 6.7/10 | 6.5/10 |
| Karvy | 6.8/10 | 6.3/10 | 6.7/10 | 6.4/10 | 6.0/10 |
| Motilal Oswal | 6.6/10 | 6.4/10 | 6.6/10 | 6.6/10 | 6.4/10 |
Saini Alloys Limited IPO Grey Market Premium
The Saini Alloys Limited IPO Grey Market Premium is yet to be announced. It will be updated as soon as the premium rates are announced.
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