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.
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