Shayona Engineering Ltd IPO
Engineering
Price Band
₹140 – ₹144
Lot Size
1000
Minimum Bid Quantity
2000
Minimum Investment
₹288000
Issue Size
₹14.86Cr
Opens
2026-01-22
Closes
2026-01-27
Listing
30-01-2026
Subscription Status
Qualified Institutional Buyers
3.33 x
Non-Institutional Investor
8.01 x
Retail Individual Investor
3.72 x
Total
5.18 x
IPO Details
Issue Type
FP
Face Value
₹10
Tick Size
1
ISIN
INE0UCL01011
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Shayona Engineering Limited manufactures castings, dies, and moulds. It is involved in heavy fabrication, reverse engineering, and turnkey project machinery. This engineering company offers precision castings in various grades and weights. The company claims to combine cutting-edge technology with engineering expertise to deliver accurate, high-quality solutions. It claims to have a dedicated in-house design and development team that can produce import-substitute components tailored to specific customer needs. It operates out of three units located in Vadodara, Gujarat.
Pros
- • Shayona Engineering claims to have a diverse product portfolio and the capability to develop a wide range of machinery and machined parts for industries, including marine & shipping, chemical & pharmaceutical, dairy & food, electrical & electronics, and automobile, among others.
- • The company says its modern facilities and testing capabilities enable it to deliver consistent, quality-assured castings across a wide range of processes and sizes. It also offers customised engineering services and aims to become a global leader in the foundry industry.
- • Shayona Engineering claims to focus on continuous innovation and quality improvement to ensure customer satisfaction, helping it attract new clients and maintain long-standing relationships.
Cons
- • A significant portion of the company’s revenue comes from a limited number of customers, and the loss of or reduction in business from any of them could adversely impact its financial performance. The top five customers accounted for Rs 14.70 crore (76.82 percent) of the company’s revenue for the period ended November 30, 2025; Rs 11.10 crore (48.07 percent) in FY25; Rs 10.34 crore (68.25 percent) in FY24; and Rs 10.50 crore (83.74 percent) in FY23. Loss of any of these customers, a decrease in business from them, or failure by the company to expand its customer base can hurt its topline, profitability, and cash flows.
- • The company relies on a few suppliers for the supply of raw materials. The top five suppliers accounted for Rs 5.55 crore (45.72 percent) of the company’s total purchases for the period ended November 30, 2025; Rs 5.01 crore (28.00 percent) in FY25; Rs 5.89 crore (55.52 percent) in FY24; and Rs 6.30 crore (57.38 percent) in FY23. If any of these suppliers discontinue their business with Shayona Engineering or are unable to supply material due to financial constraints or other issues, it could hurt the business prospects of Shayona Engineering.
- • The company experienced negative cash flow from operating activities of Rs 2.30 crore in FY25, Rs 0.20 crore in FY24, and Rs 2.60 crore in FY23, and negative cash flow from investing activities of Rs 10.29 crore for the period ending November 2025, Rs 8.81 crore in FY25, Rs 1.52 crore in FY24, and Rs 0.30 crore in FY22. Operating cash flows have improved over the years. Also, Shayona Engineering has made significant investments in fixed assets. However, the company depends on increased borrowings to fund its operations and growth initiatives.
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