Updated: January 2026 | Source: PositionalCalls Research Desk | Status: SME IPO
Why This Is the Most Authoritative Shayona Engineering IPO Hub
This page provides a complete, data-driven analysis of the Shayona Engineering IPO, combining live GMP signals, subscription trends, financial fundamentals, valuation metrics, risks, and investor insights in one place.
⚡ LIVE IPO UPDATE (Latest)
• Shayona Engineering IPO is witnessing selective participation with stronger interest from NII/HNI investors.
• Grey Market Premium (GMP) remains at ₹0, indicating cautious SME sentiment.
• Retail participation is moderate due to high ticket size.
• SME IPO demand usually peaks on the final bidding day.
Market Insight: If overall subscription crosses 3x–6x, listing sentiment may improve. Otherwise, listing gains may remain limited.
📌 Shayona Engineering IPO Snapshot (Verified)
| Parameter |
Details |
| Company Name |
Shayona Engineering Limited |
| Issue Type |
SME IPO – 100% Fresh Issue |
| Issue Size |
₹14.86 Crore |
| Total Shares Offered |
10,32,000 Shares |
| Offer Value (Calculated) |
₹ Cr |
| Price Band |
₹140 – ₹144 per share |
| Lot Size |
1,000 Shares |
| Minimum Investment (Retail) |
₹ (1 Lot) |
| IPO Open Date |
22 January 2026 |
| IPO Close Date |
27 January 2026 |
| Allotment Date |
28 January 2026 |
| Refund Date |
29 January 2026 |
| Demat Credit |
29 January 2026 |
| Listing Date |
30 January 2026 (Expected) |
| Exchange |
BSE SME |
| Registrar |
KFin Technologies Limited |
| Lead Manager |
Horizon Management Private Limited |
| Estimated Post-IPO Market Cap |
₹ Cr |
📊 Live GMP Dashboard
| Metric |
Value |
Interpretation |
| Today’s GMP |
₹0 |
Neutral |
| Yesterday GMP |
₹0 |
Stable |
| Expected Listing Price |
₹140 – ₹145 |
Flat |
| Expected Premium |
0% – 3% |
Limited Upside |
📊 GMP History (Indicative)
| Date |
GMP (₹) |
Trend |
| 20 Jan 2026 |
₹2 |
Neutral |
| 21 Jan 2026 |
₹1 |
Weak |
| 22 Jan 2026 |
₹0 |
Flat |
📊 Live Subscription Status (Day-wise)
| Category |
Day 1 |
Day 2 |
Final (Expected) |
| Retail |
0.31x |
Updating |
1.5x – 2.5x |
| NII / HNI |
1.24x |
Updating |
3x – 6x |
| QIB |
0.00x |
Updating |
0.5x – 1.5x |
| Total |
0.59x |
Updating |
2x – 4x |
🏭 Business Model
Shayona Engineering operates in precision engineering and industrial manufacturing, supplying fabricated components, piping solutions, and engineering services to infrastructure and industrial sectors.
📊 Financial Performance (₹ Crore)
| Year |
Revenue |
EBITDA |
PAT |
| FY2023 |
12.63 |
1.15 |
0.61 |
| FY2024 |
15.28 |
3.02 |
1.71 |
| FY2025 |
23.18 |
5.04 |
2.42 |
📊 Balance Sheet Snapshot
| Total Assets (FY25) |
₹32.6 Cr |
| Total Liabilities |
₹18.4 Cr |
| Net Worth |
₹14.2 Cr |
💵 Cash Flow Snapshot
| Operating Cash Flow |
₹1.9 Cr |
| Investing Cash Flow |
-₹2.4 Cr |
| Financing Cash Flow |
₹3.1 Cr |
📈 Growth Metrics
| Revenue CAGR (FY23–FY25) |
~35.5% |
| EBITDA Margin (FY25) |
~21.7% |
| PAT Margin (FY25) |
~10.4% |
📊 Valuation & Key Ratios
| EPS (FY25) |
₹9.3 – ₹9.7 |
| Post-IPO P/E |
~14.8x – 16.2x |
| ROE |
~26% – 30% |
| ROCE |
~28% – 32% |
| Debt-to-Equity |
~1.0x – 1.3x |
🏆 Peer Comparison (SME Engineering)
| Company |
P/E |
ROE |
Revenue (₹ Cr) |
| Shayona Engineering |
15x – 16x |
26% – 30% |
23.2 |
| DroneAcharya Aerial |
30x+ |
18% |
25+ |
| EMS Ltd |
22x |
24% |
500+ |
👤 Promoter Shareholding
| Pre-IPO |
87.29% |
| Post-IPO (Estimated) |
~64% – 66% |
💰 Use of IPO Proceeds
- Plant & machinery purchase
- Working capital requirements
- Debt repayment
- General corporate purposes
📌 SWOT Analysis
| Factor |
Details |
| Strength |
Strong growth, improving margins, engineering demand |
| Weakness |
Small scale, high working capital dependence |
| Opportunity |
Infrastructure & industrial capex boom |
| Threat |
Raw material volatility, SME liquidity risk |
⚠️ Key Risks
- High working capital dependency
- SME liquidity risk
- Customer concentration risk
- Debt and interest burden
- Volatile raw material prices
🎯 Allotment Probability (Retail)
| Retail Subscription |
Moderate |
| Allotment Probability |
Medium–High |
| Strategy |
Apply for listing gains with strict risk control |
❓ FAQs – Shayona Engineering IPO
- Is Shayona Engineering IPO good? → Moderate-risk SME IPO.
- Expected listing gain? → 0%–5% (if GMP remains flat).
- Long-term outlook? → Positive but high risk.
- Should retail investors apply? → Only with high-risk appetite.
🏁 Final Verdict (Updated)
Shayona Engineering IPO represents a classic SME risk–reward case. Strong growth and reasonable valuation are positives, but muted GMP and moderate subscription reflect cautious sentiment. Unless final-day demand spikes significantly, listing gains may remain limited.
Disclaimer: This content is for educational purposes only. IPO investments involve market risks. Consult a SEBI-registered advisor before investing.
Shubham Chaudhary is the founder of PositionalCalls, an independent Indian stock market research website. He writes company fundamentals, quarterly results analysis, IPO analysis and sector research for NSE and BSE listed companies, with a focus on banking stocks, insurance and long-term value investing. Every article is built from primary sources such as RBI, SEBI, NSE and BSE filings and company annual reports, and states its risks plainly in simple language for retail investors.
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Disclosure: The author is not a SEBI-registered investment adviser. Content is for education and information only and is not investment advice or a recommendation to buy or sell any security. Investments are subject to market risks. Consult a SEBI-registered adviser before investing.
