The subscription window for Shayona Engineering Limited officially closes today at 5:00 PM IST. As of the final morning, the issue has been subscribed 1.41 times overall. The demand is led by Qualified Institutional Buyers (QIB) at 3.33x, followed by Non-Institutional Investors (NII) at 1.67x, and the retail segment at 1.18x.
Shayona Engineering specializes in high-precision castings (up to 3 metric tons), industrial automation, and has recently expanded into a high-growth PVC & HDPE piping segment. The company operates three units in Gujarat and caters to sectors like defense, aerospace, and infrastructure. Financially, the company has shown a healthy trajectory, with its revenue climbing to ₹23.08 crore in FY25 and a net profit of ₹2.45 crore already recorded in the first eight months of the current fiscal year (FY26).
The Grey Market Premium (GMP) as of today, January 27, remains at ₹0. This indicates that while the business fundamentals are being recognized by institutional funds, the grey market currently expects a "flat" listing near the issue price of ₹144.
Final Day IPO Status & Timetable
| Feature | Details |
| Price Band | ₹140 – ₹144 per share |
| Today's Status | Closing Day (UPI Cut-off 5:00 PM) |
| Overall Subscription | 1.41x (Current) |
| Lot Size | 1,000 Shares (Min. Investment ₹2,88,000 for Retail*) |
| Allotment Date | January 28, 2026 (Tomorrow) |
| Tentative Listing | January 30, 2026 (Friday) |
*Note: Retail investors are required to apply for a minimum of 2 lots (2,000 shares) for this SME issue.
Important Note for Investors
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De-leveraging Play: A key objective of this IPO is the repayment of ₹2.17 crore in secured loans. This reduction in debt is expected to improve the company's interest coverage ratio and boost future net margins.
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Segment Diversification: The company’s move into PVC/HDPE pipes allows it to benefit from government schemes like the Jal Jeevan Mission. However, this segment is highly competitive and capital-intensive compared to their core precision engineering business.
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High Customer Concentration: Investors should note that nearly 76% of revenue comes from the top five customers. This dependency represents a significant risk if any major client relationship is lost.
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Negative Cash Flow History: Despite being profitable, the company has experienced negative operating cash flows in recent years due to high receivables and inventory levels. The IPO funds for working capital (₹4 crore) are intended to address this liquidity pressure.
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