Shayona Engineering IPO was introduced as a Book Built SME public issue by Shayona Engineering Limited. Through this offering, the company issued fresh equity shares to raise capital for strengthening its manufacturing operations and supporting future business expansion. The funds raised through the IPO were planned to be utilised for acquiring additional plant and machinery, reducing certain borrowings, meeting working capital requirements, and fulfilling general corporate needs. After the completion of the IPO process, the company’s equity shares were admitted for trading on the BSE SME platform.
Shayona Engineering Limited is an Indian engineering company engaged in manufacturing precision-engineered products and delivering industrial engineering solutions for customers operating across various sectors. The company undertakes activities such as precision machining, fabrication, casting, tooling, industrial automation, reverse engineering, and customised engineering projects based on customer specifications. Its products and engineering services are designed to support industrial manufacturing, infrastructure development, and capital goods applications.
The company operates an integrated manufacturing facility equipped with modern machinery and production systems that support the complete manufacturing cycle. Its operations include product design, engineering, raw material processing, machining, fabrication, quality inspection, assembly, and timely delivery of finished products. By maintaining quality standards throughout the manufacturing process, the company aims to provide reliable engineering solutions while building long-term relationships with industrial customers.
Shayona Engineering follows a growth-oriented business approach focused on expanding manufacturing capacity, improving production efficiency, and continuously upgrading engineering capabilities. The company also emphasises product quality, technological advancement, and customer satisfaction to strengthen its position in the engineering manufacturing sector. These initiatives are intended to improve operational performance while creating opportunities for sustainable business growth.
India’s engineering and manufacturing industry continues to benefit from increasing industrial investments, infrastructure development, automation, and government initiatives encouraging domestic manufacturing. Demand for precision-engineered components and customised industrial equipment is also growing across sectors such as power, construction, automotive, heavy engineering, and industrial machinery. These industry trends are expected to provide long-term growth opportunities for companies operating in this segment.
Since the IPO has already been completed and the company’s shares are listed on the stock exchange, investors should carefully evaluate the company’s financial performance, manufacturing capabilities, competitive strengths, industry outlook, business strategy, and valuation before making any long-term investment decision.
Shayona Engineering IPO Details
| IPO Details | Information |
|---|---|
| IPO Name | Shayona Engineering IPO |
| Company Name | Shayona Engineering Limited |
| IPO Type | Book Built Issue |
| IPO Category | SME IPO |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹140 to ₹144 Per Share |
| Issue Size | ₹14.86 Crore |
| Fresh Issue | 10,32,000 Equity Shares |
| Offer for Sale | Nil |
| Total Shares Offered | 10,32,000 Equity Shares |
| IPO Open Date | 22 January 2026 |
| IPO Close Date | 27 January 2026 |
| Basis of Allotment | 28 January 2026 |
| Refund Initiation | 29 January 2026 |
| Shares Credited to Demat Account | 29 January 2026 |
| Listing Date | 30 January 2026 |
| Listing Exchange | BSE SME |
| Lot Size | 1,000 Equity Shares |
| Registrar | KFin Technologies Limited |
| Book Running Lead Manager | Horizon Management Private Limited |
The public issue comprised only a fresh issue of equity shares, with no offer for sale by existing shareholders. The company intends to deploy the IPO proceeds towards enhancing production capacity through new machinery, reducing selected debt obligations, strengthening working capital, and supporting general business activities. These initiatives are expected to improve operational efficiency and provide a stronger foundation for the company’s future expansion plans.
Shayona Engineering IPO Dates
The schedule for the Shayona Engineering IPO is provided below. These dates represent the important stages of the public issue, from the opening of the subscription period to the listing of the company’s equity shares on the stock exchange.
| IPO Event | Date |
|---|---|
| IPO Opening Date | 22 January 2026 |
| IPO Closing Date | 27 January 2026 |
| Basis of Allotment | 28 January 2026 |
| Refund Initiation | 29 January 2026 |
| Shares Credited to Demat Account | 29 January 2026 |
| Listing Date | 30 January 2026 |
After the basis of allotment was finalised, successful applicants received the allotted equity shares in their demat accounts before trading commenced on the BSE SME platform. Applicants who did not receive an allotment were issued refunds as per the IPO schedule.
Shayona Engineering IPO Reservation
The equity shares offered through the public issue were allocated among various investor categories in accordance with the regulatory framework applicable to SME public offerings.
| Investor Category | Reservation |
|---|---|
| Qualified Institutional Buyers (QIB) | Not More Than 50% |
| Non-Institutional Investors (NII) | Not Less Than 15% |
| Retail Individual Investors (RII) | Not Less Than 35% |
The final allocation for each category depended on the number of valid applications received during the subscription period and the applicable regulations governing SME IPOs.
Shayona Engineering IPO Lot Size
Applications for the IPO were accepted in the prescribed lot size announced before the issue opened for subscription.
| Application | Shares | Amount |
|---|---|---|
| Retail Minimum | 1 Lot (1,000 Shares) | ₹1,44,000 |
| Retail Maximum | 1 Lot (1,000 Shares) | ₹1,44,000 |
| HNI Minimum | 2 Lots (2,000 Shares) | ₹2,88,000 |
The investment values shown above are calculated using the upper price band of ₹144 per equity share. Investors were required to apply in multiples of the specified lot size while submitting their IPO applications.
About Shayona Engineering Limited
Shayona Engineering Limited is an Indian engineering and manufacturing company engaged in producing precision-engineered components and delivering customised engineering solutions for industrial applications. The company serves customers from various industries by manufacturing products that are designed to meet specific technical and operational requirements. Its business focuses on combining engineering expertise, modern manufacturing processes, and quality standards to deliver reliable industrial products.
The company operates manufacturing facilities equipped with advanced machinery that support different stages of production, including product design, machining, fabrication, casting, assembly, inspection, and testing. By integrating these activities under one operational framework, Shayona Engineering aims to maintain product quality, improve production efficiency, and ensure timely delivery to its customers.
Over the years, the company has expanded its engineering capabilities by adopting modern manufacturing technologies and improving its production processes. It also focuses on developing long-term business relationships with customers by offering customised engineering solutions, maintaining quality standards, and continuously enhancing operational efficiency. These initiatives support the company’s objective of achieving sustainable growth while strengthening its presence in the engineering sector.
Business Operations
Shayona Engineering Limited operates across multiple engineering and manufacturing activities that support various industrial sectors.
- Precision Machining – The company manufactures precision-machined components designed to meet customer specifications for industrial and engineering applications.
- Fabrication Services – It undertakes fabrication work for industrial structures, heavy engineering equipment, and customised engineering products.
- Casting Solutions – The company manufactures precision cast components used across different engineering and industrial applications.
- Dies and Mould Manufacturing – It develops dies, moulds, and tooling solutions that support manufacturing processes for industrial customers.
- Industrial Automation – The company provides engineering solutions that help improve manufacturing efficiency through automation and process optimisation.
- Reverse Engineering – It offers reverse engineering services for the development and reproduction of engineering components based on customer requirements.
- Custom Engineering Projects – The company executes specialised engineering assignments by designing and manufacturing products according to client specifications.
- Quality Assurance – Every product undergoes inspection and quality testing throughout the manufacturing process to maintain consistency and reliability.
- Assembly and Finishing – Manufacturing operations include component assembly, finishing, surface treatment, and final inspection before dispatch.
- Customer Support – The company works closely with customers to understand technical requirements and deliver engineering solutions supported by after-sales assistance.
Industry Overview
India’s engineering and capital goods industry plays a significant role in supporting manufacturing, infrastructure development, transportation, energy, and industrial automation. Increasing investments in domestic manufacturing, industrial expansion, and technological advancement continue to create demand for precision-engineered products and customised industrial equipment.
Government initiatives encouraging local manufacturing, infrastructure projects, and industrial development have strengthened growth opportunities for engineering companies. Rising demand from industries such as automotive, construction, power generation, defence, heavy engineering, and industrial machinery is further contributing to the expansion of the engineering sector.
The adoption of advanced manufacturing technologies, automation, and precision engineering has also increased the need for companies capable of delivering high-quality customised products. Businesses that invest in modern production facilities, engineering expertise, and quality management systems are expected to benefit from the long-term growth potential of the industry.
Business Strategy
Shayona Engineering Limited aims to strengthen its position by expanding manufacturing capacity, upgrading production technology, and improving operational efficiency. The company focuses on enhancing its engineering capabilities while increasing the range of products and services offered to customers across different industrial sectors.
The management plans to invest in additional machinery and equipment to improve manufacturing efficiency and support higher production volumes. At the same time, the company intends to strengthen customer relationships by delivering customised engineering solutions, maintaining product quality, and ensuring timely execution of projects.
The company also seeks to improve operational performance through efficient resource utilisation, continuous process improvement, and technological advancement. By focusing on manufacturing excellence, product quality, and customer satisfaction, Shayona Engineering Limited aims to achieve sustainable long-term growth while expanding its presence in India’s engineering manufacturing industry.
Shayona Engineering IPO Financial Information
The financial performance of a company provides useful information about its business growth, profitability, and financial strength. By reviewing financial statements over multiple years, investors can evaluate how effectively the company has increased its revenue, managed operating expenses, generated profits, and utilised its capital. A detailed financial analysis, together with an understanding of the company’s industry and future business plans, helps investors make well-informed investment decisions.
Shayona Engineering Financial Summary
| Particulars | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue from Operations | ₹30.46 Crore | ₹39.67 Crore | ₹59.67 Crore |
| Total Income | ₹30.82 Crore | ₹40.08 Crore | ₹60.29 Crore |
| EBITDA | ₹3.62 Crore | ₹5.54 Crore | ₹8.69 Crore |
| Profit Before Tax (PBT) | ₹1.72 Crore | ₹2.96 Crore | ₹5.48 Crore |
| Profit After Tax (PAT) | ₹1.28 Crore | ₹2.19 Crore | ₹4.08 Crore |
| Net Worth | ₹9.48 Crore | ₹11.66 Crore | ₹15.74 Crore |
| Total Borrowings | ₹8.37 Crore | ₹9.14 Crore | ₹8.42 Crore |
Shayona Engineering Limited has reported steady financial growth over the past three financial years. The company recorded a consistent increase in revenue while also improving its profitability during the same period. Growth in net worth reflects the strengthening of shareholders’ funds, whereas borrowings have remained at manageable levels. The improvement in earnings demonstrates better operational efficiency and business expansion. Investors should analyse these financial results together with the company’s manufacturing capabilities, industry outlook, and future growth strategy before making any investment decision.
Shayona Engineering IPO Key Performance Indicators (KPIs)
Financial ratios provide additional insights into a company’s profitability, operational efficiency, capital utilisation, and financial position. These indicators help investors understand the company’s overall business performance beyond its financial statements.
| KPI | Value |
|---|---|
| Return on Equity (ROE) | 25.92% |
| Return on Capital Employed (ROCE) | 31.48% |
| Return on Net Worth (RONW) | 25.92% |
| EBITDA Margin | 14.41% |
| PAT Margin | 6.83% |
| Debt-to-Equity Ratio | 0.53 |
| Earnings Per Share (EPS) | ₹7.88 |
| Net Asset Value (NAV) Per Share | ₹30.39 |
| Price to Earnings (P/E) | 18.27x |
The financial indicators highlight the company’s improving profitability and efficient utilisation of capital. Strong return ratios and healthy operating margins indicate better business performance, while a moderate debt level supports financial stability. Although the company has demonstrated consistent financial improvement, investors should evaluate these ratios along with industry conditions, competitive positioning, future capital requirements, and long-term business prospects before investing.
Objects of the Shayona Engineering IPO
The company proposes to utilise the net proceeds from the IPO for the following purposes:
- Purchase of additional plant and machinery.
- Repayment or prepayment of certain secured borrowings.
- Meeting incremental working capital requirements.
- General corporate purposes.
The proposed utilisation of the IPO proceeds is expected to strengthen the company’s manufacturing capabilities, improve production efficiency, reduce finance costs, and provide additional financial flexibility to support future business expansion. These initiatives are intended to enhance operational performance and contribute to the company’s long-term growth strategy.
Shayona Engineering IPO Listing Performance
The listing performance indicates how the company’s shares performed on the stock exchange on the first day of trading after the IPO process was completed. Although listing gains or discounts reflect the market’s initial response, investors should focus on the company’s long-term financial performance, business fundamentals, operational execution, and future growth opportunities rather than short-term price movements.
| Particular | Value |
|---|---|
| Listing Exchange | BSE SME |
| Listing Date | 30 January 2026 |
| Issue Price | ₹144 Per Share |
| Listing Price | ₹151.20 Per Share |
| Listing Gain | ₹7.20 Per Share |
| Listing Gain (%) | 5.00% |
Shayona Engineering Limited commenced trading on the BSE SME platform with a premium over its issue price, reflecting positive investor sentiment on the listing day. While the stock delivered a gain at listing, long-term performance will largely depend on the company’s ability to execute its business strategy, maintain profitability, and expand its operations in the engineering sector.
Shayona Engineering IPO Subscription Status
The subscription details indicate the level of demand received from different categories of investors during the IPO bidding period. Strong participation generally reflects investor confidence; however, investment decisions should always be based on the company’s financial performance, valuation, competitive strengths, and long-term growth potential.
Shayona Engineering IPO Subscription
| Investor Category | Subscription |
|---|---|
| Qualified Institutional Buyers (QIB) | 52.84 Times |
| Non-Institutional Investors (NII) | 134.62 Times |
| Retail Individual Investors (RII) | 89.41 Times |
| Total Subscription | 90.76 Times |
The IPO attracted strong participation across all investor categories. The Non-Institutional Investor (NII) category recorded the highest demand, while Qualified Institutional Buyers and Retail Individual Investors also subscribed to the issue in significant numbers. The healthy overall subscription reflected broad investor interest in the public offering.
Shayona Engineering IPO Review
Shayona Engineering Limited operates in the precision engineering and industrial manufacturing sector by providing customised engineering products and manufacturing solutions for a wide range of industries. Its business includes precision machining, fabrication, casting, tooling, industrial automation, and engineering project execution, allowing the company to serve customers with diverse industrial requirements.
The company has developed integrated manufacturing capabilities supported by modern production facilities, engineering expertise, and quality control systems. Continuous investments in manufacturing technology and production efficiency enable the company to deliver customised engineering solutions while maintaining quality and operational reliability.
From a financial perspective, the company has demonstrated steady improvement in revenue, profitability, and net worth over recent financial years. The proposed investment in additional plant and machinery, along with working capital support and debt reduction, is expected to strengthen operational capacity and improve future business performance.
However, investors should also evaluate risks such as fluctuations in raw material prices, dependence on industrial demand, project execution challenges, competitive pressures, customer concentration, and broader economic conditions before making an investment decision.
Overall, Shayona Engineering Limited operates in an industry supported by increasing industrialisation, infrastructure development, and manufacturing expansion. Investors should carefully analyse the company’s financial position, valuation, business strategy, and long-term growth prospects before considering an investment.
Shayona Engineering IPO Strengths
Shayona Engineering Limited has built its business around engineering expertise, manufacturing capabilities, and customised industrial solutions.
- Integrated manufacturing facility with diversified engineering capabilities.
- Wide range of precision engineering and fabrication services.
- Experienced management team with industry expertise.
- Consistent growth in revenue and profitability over recent financial years.
- Strong focus on quality control and customised engineering solutions.
- Benefits from growing demand across manufacturing and industrial sectors.
Shayona Engineering IPO Risk Factors
Like other engineering and manufacturing companies, Shayona Engineering Limited is exposed to several business and industry-related risks that investors should evaluate carefully.
- Fluctuations in raw material prices may affect operating margins.
- Demand depends on industrial investment and economic activity.
- High competition within the engineering and capital goods sector.
- Delays in project execution could impact financial performance.
- Expansion plans require efficient utilisation of capital and timely implementation.
- Changes in government regulations or industrial policies may influence future business operations.
Shayona Engineering IPO Promoters
Shayona Engineering Limited is promoted by individuals with experience in the engineering and manufacturing industry. The promoters have been instrumental in establishing the company’s manufacturing operations, expanding its engineering capabilities, and strengthening customer relationships across different industrial segments. Their focus continues to remain on improving operational efficiency, enhancing manufacturing capacity, and supporting the company’s long-term business growth.
Shayona Engineering IPO Promoters Details
| Promoter | Designation |
|---|---|
| Jayeshkumar Chandrakant Patel | Promoter & Managing Director |
| Shaileshkumar Chandrakant Patel | Promoter & Whole-Time Director |
Shayona Engineering IPO Management Team
The company is managed by professionals with experience in engineering, manufacturing, finance, operations, quality management, and corporate compliance. The management team focuses on strengthening production capabilities, maintaining product quality, expanding customer relationships, and supporting sustainable business growth.
| Name | Designation |
|---|---|
| Jayeshkumar Chandrakant Patel | Managing Director |
| Shaileshkumar Chandrakant Patel | Whole-Time Director |
| Nilesh Patel | Chief Financial Officer |
| Riddhi Shah | Company Secretary & Compliance Officer |
Shayona Engineering IPO Registrar Details
The registrar managed the IPO application process, finalised the basis of allotment, credited equity shares to successful applicants, initiated refunds where applicable, and provided investor support throughout the public issue process.
| Particular | Details |
|---|---|
| Registrar Name | KFin Technologies Limited |
| Website | https://www.kfintech.com |
| IPO Allotment Status | https://ris.kfintech.com/ipostatus |
| Email ID | [email protected] |
| Contact Number | +91-40-6716 2222 |
Shayona Engineering IPO Lead Manager Details
The Book Running Lead Manager coordinated the public issue, managed regulatory compliance, assisted with marketing activities, and supported the company throughout the IPO and listing process.
| Particular | Details |
|---|---|
| Lead Manager | Horizon Management Private Limited |
| Website | https://www.horizonmanagement.in |
| Email ID | [email protected] |
| Contact Number | +91-79-2646 6824 |
Shayona Engineering Limited Contact Details
| Particular | Details |
|---|---|
| Company Name | Shayona Engineering Limited |
| Registered Office | Vadodara, Gujarat, India |
| Website | https://www.shayonaengg.com/ |
| Email ID | [email protected] |
How to Check Shayona Engineering IPO Allotment Status
Investors could check the IPO allotment status after the basis of allotment was finalised through the registrar’s website or the BSE IPO portal.
Through KFin Technologies Limited
- Visit the official IPO allotment portal of KFin Technologies Limited.
- Select Shayona Engineering IPO from the available IPO list.
- Choose any one of the available options, including Application Number, PAN, or DP/Client ID.
- Enter the required details in the respective field.
- Click on Submit to view the allotment status.
Through BSE
- Visit the official BSE IPO allotment page.
- Select Equity as the issue type.
- Choose Shayona Engineering IPO from the company list.
- Enter your PAN Number or Application Number.
- Complete the verification process and click Search to check the allotment status.
Frequently Asked Questions (FAQs)
What is the Shayona Engineering IPO?
Shayona Engineering IPO was a Book Built SME public issue through which the company raised capital by issuing fresh equity shares.
What was the price band of the Shayona Engineering IPO?
The IPO was offered at a price band of ₹140 to ₹144 per equity share.
What was the issue size of the Shayona Engineering IPO?
The company raised ₹14.86 Crore through the public issue.
When did the Shayona Engineering IPO open and close?
The IPO opened for subscription on 22 January 2026 and closed on 27 January 2026.
On which stock exchange are Shayona Engineering shares listed?
The company’s equity shares are listed on the BSE SME platform.
Who was the registrar for the Shayona Engineering IPO?
KFin Technologies Limited acted as the registrar to the issue.
Who was the Book Running Lead Manager for the Shayona Engineering IPO?
The IPO was managed by Horizon Management Private Limited as the Book Running Lead Manager.
What was the minimum lot size for the Shayona Engineering IPO?
The minimum application size was 1,000 equity shares.
What does Shayona Engineering Limited do?
The company manufactures precision-engineered components and provides fabrication, machining, casting, tooling, industrial automation, and customised engineering solutions for various industrial sectors.
What were the objectives of the Shayona Engineering IPO?
The IPO proceeds were proposed to be utilised for purchasing plant and machinery, repaying certain borrowings, meeting working capital requirements, and funding general corporate purposes.
