Divya Agarwal
Mumbai (Maharashtra) [India], January 21: Shayona Engineering Limited is a diversified engineering solutions provider engaged in precision engineering, casting & forging, and HDPE & PVC piping systems, has announced the opening of its Initial Public Offering on January 22, 2026 and will be closing on January 27, 2026, with a proposed issue size of ₹14.86 Crore, and the shares are proposed to be listed on the SME Platform of BSE Ltd.
- Fresh Issue Size – 10,32,000 Equity Shares of Face Value of ₹ 10 each
- Issue Size – ₹14.86 Crore
- Issue Price – ₹ 140 – ₹ 144 Per Share
- Lot Size – 1,000 Equity Shares
Equity Share Allocation
- QIB – 12,000 Equity Shares
- NII – 3,00,000 Equity Shares
- RII – 6,68,000 Equity Shares
- Market Maker – 52,000 Equity Shares
The net proceeds from the IPO will be utilized towards Purchase of Plant & Machinery, Repayment of Secured Borrowings, Funding Working Capital Requirements and General Corporate Purposes.
The issue will open for public subscription on Thursday, January 22, 2026 and close on Tuesday, January 27, 2026.
Horizon Management Private Limited is acting as the Book Running Lead Manager to the issue, and KFin Technologies Limited is the Registrar to the issue.
Mr. Vipul Bhikhabhai Solanki, Chairman & Managing Director, Shayona Engineering Limited said:
“The opening of our IPO marks a defining milestone in Shayona Engineering’s growth journey. Over the past 15+ years, we have consistently built strong capabilities across precision engineering, casting, and advanced HDPE & PVC piping systems, backed by a deep focus on quality, technology, and customer-centric solutions.
The successful commissioning of our Unit–2 facility at Menpura, Gujarat has significantly augmented our manufacturing capacity and enabled us to address the growing demand from infrastructure and agriculture-linked segments. The proceeds from this issue will be strategically deployed towards capacity enhancement, strengthening our balance sheet, and supporting working capital requirements.
As we enter this next phase of growth, we remain firmly committed to delivering reliable, value-engineered solutions, expanding our market presence, and creating sustainable long-term value for our shareholders and stakeholders.”
Mr. Narendra Bajaj, Managing Director of Horizon Management Private Limited of said, “As we step into the IPO journey with Shayona Engineering Limited, we see a company that is well positioned to capitalize on India’s accelerating infrastructure development, rising industrial investment, and growing demand for precision-engineered and plastic piping solutions.
Shayona Engineering has built a diversified and resilient business model with capabilities spanning casting, precision engineering, and HDPE & PVC piping systems, supported by modern manufacturing facilities and a strong focus on quality and customization.
The Company’s recent capacity expansion, consistent financial performance, and healthy return ratios reflect a scalable operating platform. We believe this IPO will support Shayona Engineering’s plans to strengthen manufacturing capabilities, enhance market reach, and create long-term value for all stakeholders.”
About The Company:
Shayona Engineering Limited is a Vadodara-based, diversified engineering and manufacturing company with over 15 years of operating track record. The Company is engaged in the production of precision-engineered components and customized solutions across multiple industrial segments.
Its core operations include:
- Precision Engineering & CNC/VMC Machined Components
- Sand & Centrifugal Casting in Ferrous and Non-Ferrous Grades
- Manufacturing of HDPE & PVC Pipes and Fittings
Shayona Engineering serves a wide range of end-use industries including Construction & Infrastructure, Agriculture & Irrigation, Automotive, Heavy Engineering, Marine & Chemical Industries, and Pharmaceutical Manufacturing, positioning it as a comprehensive engineering solutions partner for domestic and select export markets.
In FY25, the company recorded a Revenue of ₹ 2,308.83 Lakhs, EBITDA of ₹ 499.54 Lakhs, and PAT of ₹ 241.91 Lakhs.
In Nov’25, the company recorded a Revenue of ₹ 1,914.19 Lakhs, EBITDA of ₹ 408.22 Lakhs, and PAT of ₹ 245.07 Lakhs.
Disclaimer:
Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
