Sai Swami Metals shares list at 90% premium over issue price

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Shares of Sai Swami Metals listed on the BSE SME platform at a premium of 90% on Wednesday. The stock debuted at Rs 114 as against an issue price of Rs 60.

Ahead of the listing, the company's shares traded with a premium of Rs 50 in the unlisted market.


The IPO, which was completely a fresh equity issue of 25 lakh shares, received massive response from investors with an overall subscription of over 500 times at close.

The net proceeds from the public offer will be used for investment in subsidiary company Emmforce Mobility Solutions in the form of equity or debt for meeting the requirement of working capital and other general corporate purposes.


Sai Swami Metals is actively involved in the trading and marketing of a comprehensive array of stainless steel products, addressing the diverse needs of its discerning customers.Also Read: Plant-based specialty product maker Sanstar gets Sebi nod for an IPOThe product line is specifically designed to encompass a wide range of kitchenware, including dinner sets, casseroles, multi kadai, water bottles, stainless steel sheets, stainless steel circles, and various types of utensils.The company is also engaged in trading of basic raw materials like Patta, Sheet, Coil and Scrap. These products showcase the company’s commitment to providing high-quality stainless steel kitchenware that spans a wide spectrum of categories.

With a focus on innovation and quality, the company said its offerings are crafted to meet the unique preferences and requirements of a diverse customer base.

The company's two subsidiaries -- Bhagat Marketing and Dhruvish Metals -- also specialize in the trading and marketing of stainless steel kitchenware products through the distinguished brand Dolphin.

The use of stainless steel in utensils itself extends to various equipment including tableware like hot pots, bowls, plates, pans and saucepans, and many more.

For the period ended December 2023, the company clocked revenues of Rs 5.19 crore and net profit of Rs 43 lakh.

Swastika Investmart acted as the lead manager to the issue and Bigshare Services was the registrar.

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