The Sharvaya Metals IPO is a book-built issue worth ₹58.80 crore, comprising a fresh issue of ₹49 crore and an offer for sale worth ₹9.80 crore. The issue opened on September 4, 2025 and will close on September 9, 2025. The company is set to list on BSE SME with a tentative listing date of September 12, 2025.
Sharvaya Metals Ltd is a specialized aluminum products manufacturer, catering to industries such as automotive, engineering, cookware, and defense. With strong growth in FY25 and an aggressive expansion plan, the IPO has caught the attention of retail and institutional investors alike.
IPO Overview
- IPO Type: Book Built Issue (BSE SME)
- Issue Size: ₹58.80 crore (30 lakh shares)
- Fresh Issue: 25 lakh shares (₹49.00 crore)
- Offer for Sale: 5 lakh shares (₹9.80 crore)
- Price Band: ₹192 – ₹196 per share
- Face Value: ₹10 per share
- Lot Size: 600 shares
- Minimum Retail Investment: ₹2,35,200 (1,200 shares at upper band)
- HNI Minimum Investment: ₹3,52,800 (1,800 shares)
- Lead Manager: Expert Global Consultants Pvt. Ltd.
- Registrar: Bigshare Services Pvt. Ltd.
- Market Maker: Globalworth Securities Ltd.
IPO Timeline (Tentative)
- Open Date: September 4, 2025
- Close Date: September 9, 2025
- Allotment Date: September 10, 2025
- Refunds Initiation: September 11, 2025
- Credit to Demat: September 11, 2025
- Listing Date: September 12, 2025
Company Background
Incorporated in 2014, Sharvaya Metals Ltd specializes in manufacturing, supplying, and exporting aluminum products, including:
- Alloyed ingots
- Billets
- Slabs and sheets
- EV battery enclosures
- Cookware and defense-grade aluminum components
The company operates a PLC-controlled 10-ton aluminum melting furnace with advanced rolling, cutting, and punching equipment.
Its client base spans OEM suppliers, Tier-1 vendors, consumer appliance manufacturers, and EV companies, highlighting a diversified demand structure.
Objects of the Issue
The net proceeds from the IPO will be utilized as follows:
- Working capital requirements – ₹9.00 crore
- Civil construction & electrification – ₹5.17 crore
- Purchase of plant & machinery – ₹20.40 crore
- General corporate purposes
Financial Performance (₹ in crore)
| Particulars | FY23 | FY24 | FY25 |
|---|---|---|---|
| Revenue | 70.53 | 71.58 | 112.76 |
| EBITDA | 3.37 | 3.56 | 19.30 |
| PAT | 1.95 | 1.54 | 12.51 |
| Net Worth | 6.09 | 7.63 | 22.78 |
| Assets | 29.23 | 29.55 | 47.32 |
| Debt/Equity | 0.66 | 0.66 | 0.66 |
| ROE | 54.92% | – | – |
| EBITDA Margin | 17.16% | – | – |
Takeaway: The company has shown 715% YoY profit growth in FY25, though analysts caution about its sustainability due to the highly competitive and fragmented aluminum market.
Valuation Analysis
- EPS (FY25): ~₹12.5 on post-issue equity
- P/E Ratio (at ₹196): ~15.6x
- ROE: 54.9%
- ROCE: 49.3%
- Debt/Equity: 0.66
Peers (SME & Listed):
- Century Extrusions – P/E ~14x
- Hindalco (large-cap peer) – P/E ~11x
- Sharvaya Metals – ~15.6x
👉 The IPO appears slightly expensive compared to large-cap peers, but in line with SME aluminum companies.
Market Sentiment & GMP
- GMP (as per market trackers): ₹25 – ₹35 per share (as of Sept 5, 2025)
- Expected Listing Price: ₹220 – ₹230 (approx. 12%–15% premium)
⚠️ Note: Grey Market Premium (GMP) is unofficial and volatile. Investors should rely on fundamentals rather than GMP alone.
Subscription Status (as of Day 2, Sept 5, 2025)
- Overall: 1.67x subscribed
- Retail Investors: 2.37x
- NII/HNI: 1.06x
- QIB: 0.90x
👉 Strong retail participation, modest HNI interest, and underwhelming QIB response.
Strengths
- Integrated aluminum manufacturing facility
- Wide product portfolio catering to multiple industries
- Strong FY25 growth with improved margins
- Demand from high-growth EV & defense sectors
Risks
- Highly competitive & fragmented aluminum market
- FY25 profit jump raises questions of sustainability
- High minimum retail investment (₹2.35 lakh) limits retail reach
- SME IPOs usually have lower liquidity post-listing
Investor FAQs
Q1. What is Sharvaya Metals IPO GMP today?
As of Sept 5, 2025, GMP is around ₹25–₹35.
Q2. When is the Sharvaya Metals IPO allotment date?
Allotment will be finalized on Sept 10, 2025.
Q3. What is the listing date of Sharvaya Metals IPO?
Tentative listing date is Sept 12, 2025 on BSE SME.
Q4. How to check allotment status?
Through Bigshare Services Pvt. Ltd. (registrar link below).
Q5. What is the minimum investment for retail investors?
₹2,35,200 (1,200 shares at ₹196).
Q6. Is Sharvaya Metals IPO a good investment?
The IPO shows strong growth in FY25 but valuations are slightly stretched. Analysts remain cautious due to the sudden jump in profits and competitive risks.
Important Links
- 📄 Sharvaya Metals RHP – SEBI Filings
- 🗂️ IPO Allotment Status – Bigshare Services
- 📊 Sharvaya Metals IPO – BSE India
- 🌐 Company Website – Sharvaya Metals Ltd
- tredingmarket.com
Conclusion
The Sharvaya Metals IPO offers exposure to a fast-growing aluminum products manufacturer with strong FY25 financials, high ROE, and diversified demand. However, investors must weigh the high entry cost, valuation concerns, and potential risks of sustainability in profits.
For those willing to take a calculated bet in the SME IPO space, this issue may be suitable, especially if the company sustains its FY25 momentum. Conservative investors, however, may prefer to wait and watch post-listing performance.