Shayona Engineering Ltd IPO: Shayona Engineering Limited, a Vadodara-based specialist in precision engineering and industrial automation, has launched its Initial Public Offering (IPO). Established in 2017, the company has carved a niche in providing “one-stop” engineering solutions ranging from precision castings to heavy metal fabrication.
The ₹14.86 crore BSE SME IPO is set to open for subscription on January 22, 2026.
Shayona Engineering Ltd IPO Overview
The issue is a 100% fresh issue of 10.32 lakh shares. The funds will be primarily used for capital expenditure and working capital requirements.
| Feature | Details |
| IPO Date | January 22, 2026, to January 27, 2026 |
| Price Band | ₹140 to ₹144 per share |
| Lot Size | 1,000 Shares |
| Total Issue Size | ₹14.86 Crores |
| Listing At | BSE SME |
| Lead Manager | Horizon Management Pvt Ltd |
| Registrar | KFin Technologies Ltd |
Important Dates & Timeline
Keep track of these key dates to ensure your application is submitted on time and to check your allotment status.
- IPO Open Date: Thursday, January 22, 2026
- IPO Close Date: Tuesday, January 27, 2026
- Basis of Allotment: Wednesday, January 28, 2026
- Initiation of Refunds: Thursday, January 29, 2026
- Credit of Shares to Demat: Thursday, January 29, 2026
- Listing Date: Friday, January 30, 2026
Financial Performance: Growth at a Glance
Shayona Engineering has shown consistent growth in both top and bottom lines over the last three fiscal years.
| Financial Year | Revenue (₹ Cr) | Net Profit (PAT) (₹ Cr) | Net Worth (₹ Cr) |
| FY 2023 | 12.63 | 0.61 | 2.01 |
| FY 2024 | 15.28 | 1.71 | 3.99 |
| FY 2025 | 23.18 | 2.42 | 9.91 |
| 8M FY2026 (Nov) | 19.15 | 2.45 | 12.36 |
Key Metric: The company reported a significant jump in PAT Margin from 4.81% in FY23 to 12.80% in the current partial fiscal year (8M-FY26).
Investment Lot Size
Retail investors must apply for a minimum of 2 lots (2,000 shares) due to the SME IPO structure.
- Retail (Min/Max): 2 Lots (2,000 Shares) | ₹2,88,000
- S-HNI (Min): 3 Lots (3,000 Shares) | ₹4,32,000
- B-HNI (Min): 7 Lots (7,000 Shares) | ₹10,08,000
Review: Should You Apply?
Strengths:
- Integrated Solutions: Provides casting, machining, and automation under one roof.
- Proven Growth: Strong revenue CAGR and rapidly expanding profit margins.
- Niche Precision: Expertise in single-piece castings up to 3 metric tons.
Risks:
- High Debt: A debt-to-equity ratio of 1.83 raises slight concern for conservative investors.
- Working Capital Intensive: The business requires high inventory levels to manage supply chain lead times.
Verdict: The IPO is priced at a P/E of approximately 15.25x based on FY26 annualized earnings. While it appears “fully priced,” the strong growth trajectory makes it an attractive “apply” for medium-to-long-term investors.
How to Check Allotment Status
Once the allotment is finalized on January 28, 2026, you can check your status on the registrar’s website:
- Visit the KFin Technologies Allotment Portal.
- Select “Shayona Engineering Ltd” from the drop-down menu.
- Enter your PAN Number, Application Number, or DP Client ID.
- Enter the Captcha and click Submit.
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