Sai Swami Metals and Alloys makes a Dazzling Entry, Stock Lists With 90% Premium At ₹114 On NSE SME

Sai Swami Metals and Alloys debuted on the BSE SME, opening at ₹114, a 90% premium, highlighting a successful launch and strong investor enthusiasm for the newly listed stock.
Sai Swami Metals and Alloys makes a Dazzling Entry, Stock Lists With 90% Premium At ₹114 On NSE SME

Sai Swami Metals and Alloys saw a remarkable debut on the BSE SME, with shares opening at ₹114, a 90% premium over the initial price of ₹60. Today’s strong opening underscores a successful launch, reflecting high investor enthusiasm for the stock.

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The Sai Swami Metals and Alloys IPO, priced at ₹60 per share with a face value of ₹10, opened for subscription on Tuesday, April 30, and closed on Friday, May 3. Investors could subscribe in lots of 2,000 shares each.

Sai Swami Metals & Alloys, known for its “DOLPHIN” brand, trades and markets a broad range of stainless steel products, from kitchenware to industrial materials. Leveraging over thirty years of expertise in ferrous and non-ferrous metals, the company ensures quality through its subsidiary, Dhruvish Metals LLP, enhancing production, distribution, and market presence under the guidance of an experienced leadership team.

Sai Swami Metals & Alloys Limited aims to enhance operations by allocating IPO proceeds to increase working capital, invest in subsidiaries, and purchase machinery for a new manufacturing unit, with additional funds dedicated to general corporate purposes.

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