Sai Swami Metals and Alloys Ltd is involved in the trading and marketing of a comprehensive array of stainless steel products, addressing the diverse needs of our discerning customers. The company's product line includes a variety of kitchenware such as Dinner Sets, S.S. Casseroles, S.S. Multi Kadai, S.S.

SSMAL is coming up with an IPO to raise funds from the public based on the Fixed Price Issue. The Issue Size of the IPO is ₹15.00 Crores comprising of entirely fresh issue of 25,00,000 equity shares. SSMAL IPO opens on 30th April 2024 and closes on 03rd May 2024 for the subscription. 

SSMAL IPO allotment is expected to be finalized on 06 May 2024. SSMAL IPO will be listed on BSE SME for Commencement of trading of the Equity Shares on the Stock Exchange on 08 May 2024.

SSMAL IPO issue price band is ₹ 60 Per Equity Share. The minimum lot size for an application is 2000 equity shares and the minimum amount of investment required to subscribe SSMAL IPO under the Retail Category ₹ 1,20,000. The minimum lot size for an application is 4000 equity shares and the minimum amount of investment required to subscribe to SSMAL IPO under the HNI Category ₹ 2,40,000.

Refer to Sai Swami Metals & Alloys Ltd. RHP for more details about the company and the IPO.

Objectives of Sai Swami Metals & Alloys IPO

SSMAL intends to utilize the Proceeds of the Issue to meet the following objects: 
1. To Meet Incremental Working Capital Requirements;
2. To Invest in Subsidiary Company;
3. To Purchase of Machineries;
4. General Corporate Purpose.

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About Sai Swami Metals & Alloys Limited

Sai Swami Metals & Alloys Ltd. is a leading manufacturer of Stainless Steel Long Products and is part of Group company of DOLPHIN Brand stainless Steel Cookware & appliances manufacturing based at Ahmedabad, Gujarat Since 1995. Based on 20000 Sq.Feet factory premises having ample space of inspection, stock and quality checking facility. With the modern equipment of handling the products, company is capable of delivering the order well in time. With latest testing instruments company can check the quality of product and supply better well in time to the clients.

Sai Swami Metals and Alloys Limited, originally incorporated as “Sai Swami Metals and Alloys Private Limited” on September 23, 2022, marks its origin under the Indian Companies Act of 2013. The company was established in Ahmedabad, Gujarat, taking over from the sole proprietorship “Steel Kraft Industries” run by the promoter. Steel Kraft Industries, founded in 2011 under the proprietorship of Mr. Nipun Anantlal Bhagat at GVMM, Odhav, was dedicated to the production of advanced kitchen utensils, with a special focus on crafting copper-plated variants.

Having experience of more than 25 years in the field of stainless Steel , ferrous and non-ferrous metal. SSMAL distribute wide variety of products as per Customer’s demand such as Stainless Steel Plate, Stainless Steel Coil, Stainless Steel Scrap, Stainless Steel Angle Trim, Polished Stainless Steel Bar. The company is also actively involved in the trading and marketing of a comprehensive array of stainless steel products, addressing the diverse needs of our discerning customers. Their product line is specifically designed to encompass a wide range of kitchenware, including Dinner Sets, S.S. Casseroles, S.S. Multi Kadai, S.S. Water Bottles, Stainless Steel Sheets, Stainless Steel Circles, and various types of utensils. These products showcase Company’s commitment to providing high-quality stainless steel kitchenware that spans a wide spectrum of categories. With a focus on innovation and quality, their offerings are crafted to meet the unique preferences and requirements of their diverse customer base.

The Company and their two subsidiaries i.e. Bhagat Marketing Private Limited and Dhruvish Metals LLP are specialized in the trading and marketing of stainless steel kitchenware products through the distinguished brand "DOLPHIN."
Two experienced and technically sound directors, Mr. Nipun Anantlal Bhagat and Ms. Kashmira Dhirajlal Mehta, lead the foundation of the company. With over 30 years of trade experience in ferrous and nonferrous metals, as well as stainless steel scraps, Specializing in marketing stainless steel sheets, circles, and advanced utensils and appliances under the esteemed DOLPHIN brand, the company boasts a team of experienced individuals dedicated to steering it to new heights.

SSMAL takes pride in having served over 47,000 happy customers throughout their years of operation and has been recognized for their excellence in the industry and has won a total of 20 awards. SSMAL brings to the table an extensive 24 years of experience in the field of stainless steel, ferrous, and non-ferrous metals.

SAI SWAMI METALS & ALLOYS RISK FACTORS & CONCERNS

1. Majority of company's current revenue is dependent on one product i.e., S.S. Scraps : Out of company's total Revenue ₹ 3,333.86 Lakhs and ₹ 626.76 Lakhs representing 64.60% and 100.00% of the revenue was generated from S.S. Scraps for the period ended December 31st, 2023 and 31st March, 2023 respectively.
2. Company's business is a High Volume Low Margin Business.
3. The Company has been formed specifically for the purpose of acquisition of the business of M/s Steel Kraft Industries (Proprietorship firm of their Promoter) thus they have limited operating history as a Company which may make it difficult for investors to evaluate their historical performance or prospects.
4. There is no monitoring agency appointed by the company and the deployment of funds are at the discretion of their Management and comapny's Board of Directors.
5. The Company demands substantial funds towards working capital requirements.
6. The demand and pricing in the steel industry is volatile and are sensitive to the cyclical nature of the industries it serves.

SAI SWAMI METALS & ALLOYS STRENGTHS & STRATEGIES

1. The Company has Experienced Promoter and Management Team
2. The Company has Diversified Range of kitchenware products
3. The Company has Established sales and distribution network
4. The Company can increase their geographical reach and expansion of addressable market
5. They can Invest in new manufacturing plant and increase backward integration in the plant
6. They can continue to strengthen their existing product portfolio and to add more products