Shubham Chaudhary
Finance Analyst & Founder, PositionalCalls
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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.
✓ Verified
Written & Researched by
Shubham tracks Indian equity markets with a focus on banking stocks, insurance companies, and long-term value investing. PositionalCalls was built to give independent investors the same quality of research that institutional desks produce — in plain language, with no brokerage bias and no paid promotions. All analysis is sourced from RBI, SEBI, NSE/BSE filings, and company annual reports.
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⚠️ Not SEBI registered. All content is for educational and informational purposes only. Not investment advice. Please consult a qualified financial advisor before making any investment decision.
