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Sai Swami Metals IPO
Price Band
₹
Issue Size
₹15.0 Cr
Lot Size
2,000 shares
Min Investment
₹120,000
GMP
+₹50.0 (83.33%)
Issue Price
₹60.0
Subject to Sauda
₹76000
Paid only if allotted
Sai Swami Metals IPO AI Summary
- Sai Swami Metals IPO is listed on BSE SME in the Household Appliances sector.
- Subscription window: 30 Apr–03 May 2024, listing on 08 May 2024.
- Current GMP is +₹50.0 (83.33%) — unofficial and can change daily.
Sai Swami Metals and Alloys Ltd. is entering the market with a focus on stainless steel kitchenware. With significant revenue growth and a lower P/E ratio compared to peers, the IPO presents an interesting opportunity for investors, though it comes with inherent risks typical of new companies.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Sai Swami Metals IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 03 May 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Sai Swami Metals IPO Grey Market Premium (GMP) Today
GMP
+₹50.0
GMP %
+83.33%
Est. Listing
₹110.0
Updated: 25 Jul 2026 14:06
About the Company
Incorporated in September 2022, Sai Swami Metals and Alloys Ltd. trades in a wide range of stainless steel products to cater to the varied needs of our customers. The company's product line includes a variety of kitchenware such as Dinner Sets, S.S. Casseroles, S.S. Multi Kadai, S.S. Water Bottles, Stainless Steel Sheets, Stainless Steel Circles, and various utensils. The Dolphin brand is recognized for trading and marketing stainless steel kitchenware products by the company and its two subsidiaries, Bhagat Marketing Private Limited and Dhruvish Metals LLP. As of December 31st, 2023, the company has a network of 6 Distributors and more than 150 sub-dealers/stockiest/retailers and strategic alliances in the state of Gujarat, Madhya Pradesh, Maharashtra etc. On March 31st, 2024, the Company had a total of seven employees.
Company Financials (₹ Cr)
| Period Ended | 31 Dec 2023 | 31 Mar 2023 |
|---|---|---|
| Assets | 26.17 | 25.83 |
| Total Income | 33.34 | 6.27 |
| Profit After Tax | 1.80 | 0.04 |
| NET Worth | 6.64 | 0.35 |
| Reserves and Surplus | 2.53 | 0.34 |
| Total Borrowing | 7.43 | 6.10 |
Key Ratios
EPS
₹5.29
NAV
₹16.14
RoNW
27.02%
P/E Ratio
11.34
Market Cap
₹39.71 Cr
PAT Margin
5.38%
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic |
|---|---|---|---|---|
| Ttk Prestige Ltd. | 152.25 | 8.24% | 60.51 | 12.25 |
| Sai Swami Metals & Alloys Limited This IPO | 19.57 | 27.02% | 11.34 | 5.29 |
Promoters
Nipun Anantlal Bhaga
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 To Meet Incremental Working Capital Requirements 6.00 2 To Invest in Subsidiary Company. 4.00 3 To Purchase of Machineries 2.00 4 General Corporate Purpose 2.00
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income was ₹6.27 Cr in the period ending 31 Mar 2023, rising significantly to ₹33.34 Cr by the period ending 31 Dec 2023. This indicates a strong growth trajectory in revenue over the reported periods.
Profit Trend
Profit After Tax was ₹0.04 Cr for the period ending 31 Mar 2023, increasing to ₹1.80 Cr by the period ending 31 Dec 2023. This shows a substantial improvement in profitability during the reported periods.
Valuation
Sai Swami Metals is priced at a P/E of 11.34 at the issue price, while peers like Ttk Prestige Ltd. are trading at a P/E of 60.51. This suggests that Sai Swami Metals is priced at a lower multiple compared to its peers.
Grey Market Premium, Explained
The Grey Market Premium (GMP) reflects the expected listing price of an IPO in the stock market compared to its issue price. A positive GMP indicates strong demand and potential for listing gains, while a negative GMP suggests the opposite.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. Consider the company's growth potential and market conditions.
Who May Want to Wait
Investors who are risk-averse or prefer stable, established companies may want to avoid this IPO, as it operates in a competitive sector and is relatively new.
Listing Gains — The Risk
Listing-day gains can be unpredictable. While a positive GMP may suggest potential gains, market conditions on the listing day can lead to fluctuations. Investors should be prepared for the possibility of both gains and losses.
This evaluation is generated from Sai Swami Metals's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Sai Swami Metals IPO GMP today?
Sai Swami Metals IPO GMP today is +₹50.0 (83.33%). GMP is an unofficial grey-market indicator and can change daily.
When does Sai Swami Metals IPO open and close?
Sai Swami Metals IPO opens on 30 April 2024 and closes on 03 May 2024.
When does Sai Swami Metals IPO list on the stock exchange?
Sai Swami Metals IPO listed on 08 May 2024 at ₹110.0.
What is the lot size for Sai Swami Metals IPO?
The lot size for Sai Swami Metals IPO is 2000 shares, requiring a minimum investment of ₹120,000.
What is the lot size for this IPO?
The lot size for Sai Swami Metals IPO is 2000 shares.
What is the minimum investment required?
The minimum investment required for this IPO is ₹120,000.
What is the issue price of the shares?
The issue price of the shares is ₹60.00.
When does the IPO open and close?
The IPO opens on April 30, 2024, and closes on May 3, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the IPO compared to its issue price.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
30 Apr 2024
Close
03 May 2024
Allotment
06 May 2024
Listing
08 May 2024
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