Ahmedabad based Sai Swami Metals and Alloys plans to raise Rs. 15 crore from public issue; IPO opens April 30

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. Water Bottles, Stainless Steel Sheets, Stainless Steel Circles, and various utensils. The Dolphin brand is recognized for trading and marketing stainless steel kitchenware products by the company and its two subsidiaries, Bhagat Marketing Private Limited and Dhruvish Metals LLP. As of December 3, 2023, company has a network of 6 Distributors and more than 150 sub-dealers/stockiest/retailers and strategic alliances in the state of Gujarat, Madhya Pradesh, Maharashtra.

Mr. Nipun Anantlal Bhagat, Chairman and Managing Director, Sai Swami Metals & Alloys Ltd said, “From its humble beginnings in marketing to establishing manufacturing units and enduring challenges, the company’s commitment to quality and innovation remains unwavering and has emerged as a dynamic player in the stainless steel industry. We are hopeful that after the proposed public issue, we will be able to execute our growth strategy in a manner that creates exponential value for all stakeholders while consistently delivering quality products.”

The DOLPHIN brand of the company stands as a beacon of success, reflecting the company’s resilience and lasting impact in the Gujarat market. Over the past three decades, it has consistently translated innovative ideas into an ultramodern range of high-quality kitchenware made from the finest stainless steel material. Company and two subsidiaries i.e. Bhagat Marketing Private Ltd and Dhruvish Metals LLP have a wide range of product portfolio across three categories consisting Cook wears, Kitchenwear and Cutery over 1,200 with different model, each presenting a unique look, style, and personality.                   

For nine months ended December 2023 , company has reported net profit of Rs. 1.79 crore and revenue of Rs. 33.33 crore as compared to full year profitability and revenue of Rs. 3.83 lakh and Rs. 6.27 crore in FY22-23. As on December 2023, Net Worth of the company was reported at Rs. 6.64 crore, Reserves & Surplus at Rs. 2.53 crore, Asset base of Rs. 26.17 crore and RONW at 27.02%. Shares of the company will be listed on BSE SME platform.                     

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