Sharvaya Metals IPO fully subscribed on day 1; check price band, lot size and key dates

Sharvaya Metals IPO: Aluminium products maker Sharvaya Metals' initial public offering has been fully subscribed on the opening day of bidding on Thursday, September 4. The issue will conclude on September 9. The price band has been set at ₹192 to ₹196 per share.

It has secured bids for 24,19,800 shares, compared to 21,46,800 shares on offer, leading to a 1.13 times subscription, according to the BSE data until 3:13 pm.

The part reserved for qualified institutional investors has been subscribed 90%, while the non-institutional quota has been booked 90%. Individual investors applied for 1.39 times the shares allotted to them.

The ₹58.80 crore initial public offering is a mix of a fresh issuance of shares valued at ₹49 crore as well as an offer for sale (OFS) of ₹9.80 crore by promoter Shreyans Katariya.

The fresh issue proceeds will be utilised for working capital requirements, capital expenditure for the purchase of plant, machinery, civil construction and electrification, and general corporate purposes.

Sharvaya Metals IPO lot size

A lot consists of 600 shares. Individual investors can apply for a minimum of 1,200 shares.

On Wednesday, the company mobilised ₹16.72 crore from anchor investors, including NAV Capital, PCC-Citadel Capital Fund, Krushnam Nexus Capital Scheme I, Craft Emerging Market Fund, Beacon Stone Capital VCC, Lords Multigrowth Fund and Pentateam Inventure Capital Scheme I.

Shreyans Katariya, Promoter and Managing Director of Sharvaya Metals, said, "The proceeds will help us strengthen infrastructure, enhance production capacity, and support working capital requirements as we expand across high-growth segments like electric vehicles and defence."

Sharvaya Metals IPO key dates

Sharvaya Metals Ltd makes aluminium products, including alloyed ingots, slabs, sheets, circles, billets, and EV battery housings.

Expert Global Consultants Pvt Ltd is the issue's sole book-running lead manager, while Bigshare Services is the registrar.

Sharvaya Metals IPO GMP