Sai Swami Metals & Alloys Limited IPO Closed

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IPO date 30th Apr 2024 – 03rd May 2024
Listing date 08 May 2024
Type SME
Price range 60 – 60
Minimum order quantity 2000
(D)RHP View

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Sai Swami Metals & Alloys Limited is launching its IPO. The IPO opens for subscription on April 30, 2024, and will close on May 03, 2024.

Disclaimer: This stock will trade with a lot size of 2000 shares in the SME segment on the listing.

What does Sai Swami Metals & Alloys Limited do?

Incorporated on September 23rd, 2022, Sai Swami Metals & Alloys Limited began as Sai Swami Metals and Alloys Private Limited under the Companies Act, 2013. It initially acquired Steel Kraft Industries, transitioning from a sole proprietorship to a public limited company by August 2023.

Located in Ahmedabad, Gujarat, the company’s core business revolves around the trading and marketing of stainless steel products. Their extensive product line includes items like Dinner Sets, S.S. Casseroles, S.S. Multi Kadai, and S.S. Water Bottles, as well as Stainless Steel Sheets and Circles, with an additional focus on raw materials such as S.S. Patta, Coil, and Scrap.

The company distributes its products under the “DOLPHIN” brand through its subsidiaries, Bhagat Marketing Private Limited and Dhruvish Metals LLP, with the latter managing the manufacturing aspects. This distribution network extends across multiple states, including Gujarat, Madhya Pradesh, and Maharashtra, supported by six distributors and over 150 sub-dealers, stockists, and retailers.

Schedule/Timeline of Sai Swami Metals & Alloys Limited IPO

Issue Period 30th April to 3rd May 2024
Deadline for accepting UPI mandate  Until 5 PM on the issue closing day
Finalization of Allotment May 06, 2024
Initiation of Refunds May 07, 2024
Credit of Shares May 07, 2024
Date of Listing May 08, 2024
Mandate end date May 18, 2024
Anchor Investors Lock-In End Date (50% of the investment) June 05, 2024
Anchor Investors Lock-In End Date (Remaining investment) August 05, 2024

Note: Given that the above schedule is tentative, it should be noted that the anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares, and 90 days after for the remaining portion.

How do I apply to the Sai Swami Metals & Alloys Limited IPO?

You can apply for the Sai Swami Metals & Alloys Limited IPO using any supported UPI app by following two steps:

  • Enter your bid on Kite
  • Accept the UPI mandate on your phone

On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.

Where do I check the allotment status for Sai Swami Metals & Alloys Limited IPO?

You can check the allotment status for the Sai Swami Metals & Alloys Limited IPO on the website of the Registrar and Transfer agent.

Alternatively, you can also check the allotment status on the NSE website.