The Rs 14.86 crore IPO, which was entirely a fresh issue, attracted reasonable investor interest during the bidding period. The issue was subscribed 5.43 times overall, led by strong demand from non-institutional investors, whose portion was subscribed 9.30 times. Retail investors subscribed 3.73 times, while qualified institutional buyers subscribed 3.33 times, reflecting balanced participation across categories.
Shayona Engineering offered shares in a price band of Rs 140 to Rs 144, with the issue priced at the upper end.
The company is engaged in precision engineering and manufacturing, providing customised solutions in areas such as castings, machining, industrial automation, heavy fabrication and turnkey machinery projects. It operates from three manufacturing locations in Vadodara, Gujarat, catering to a diverse set of industrial customers.
Financially, Shayona Engineering reported a profit after tax of Rs 2.42 crore in FY25, compared with Rs 1.71 crore in FY24, indicating steady growth. For the eight months ended November 2025, profit stood at Rs 2.45 crore, while net worth increased to Rs 12.36 crore.
IPO proceeds are proposed to be used for purchase of plant and machinery, repayment of secured loans, funding working capital requirements and general corporate purposes. Promoter holding is expected to remain high post issue, underscoring continued promoter commitment to the business.
The stock’s performance on listing day will depend on broader market conditions and post-listing liquidity, with investors expected to track execution and balance sheet improvement closely.
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