Shayona Engineering
IPOIssue Details
Issue Size
– Cr
Fresh Issue
– Cr
OFS
– Cr
Price Band
₹140 – ₹144
Lot Size
1000
₹1,44,000
Face Value
₹10
Important Dates
Open Date
22 Jan 2026
Close Date
27 Jan 2026
Allotment
28 Jan 2026
Refund
29 Jan 2026
Listing
30 Jan 2026
About Company
Incorporated in 2017, Shayona Engineering Limited is engaged in the business of precision castings, machining, dies and moulds, industrial automation, heavy fabrication, casting, forging, reverse engineering, and turnkey project machinery.
The company offers customized solutions for precision castings in special grades, with weights ranging from a few grams to 3 metric tons in a single piece.
Shayona Engineering operates from three locations in Vadodara, Gujarat, utilizing sophisticated, cutting-edge technology-based equipment.
The company provides accurate engineering solutions along with prompt after-sales services, all under one roof.
Objects of the Issue
| # | Description | Amount (₹ Cr) |
|---|---|---|
| 1 | Purchase of plant and machinery for the existing line of business. | ₹3.79 |
| 2 | Repayment of secured loan availed from financial institution. | ₹2.17 |
| 3 | Funding of working capital requirements of the company. | ₹4 |
| 4 | General corporate purposes. | – |
Financial Performance
Share Reservations
QIB
12,000
Anchor
0
NII
3,00,000
Retail
6,68,000
Employee
0
Total
10,32,000
RHP Insights
AI-powered analysis from Red Herring Prospectus
Strategic Business Diversification
The company is evolving from basic manufacturing into a diversified industrial enterprise by expanding into PVC and HDPE pipe production (Unit-2 and Unit-3) to serve the agriculture and infrastructure sectors.
Impact: HighCapacity Expansion via New Facilities
Shayona has established a new state-of-the-art manufacturing unit in Menpura with an installed capacity of 250 metric tons per month to meet increasing market demand for piping solutions.
Impact: HighImprovement in Payment Cycle to Vendors
The company's creditor payment cycle increased from 51 days in FY 2023 to 78 days as of November 2025; however, they aim to reduce this to 64 days in FY 2026 to leverage cash discounts and improve supplier relations.
Impact: HighInventory Turnover Management
Inventory turnover days fluctuated from 29 days in FY 2023 to 41 days in late 2025, with a target of 53 days for FY 2026 to ensure consistent supply against demand schedules.
Impact: ModerateExperienced Leadership and Management
The company is led by promoters Vipul Bhikhabhai Solanki, Kinnariben Vipulbhai Solanki, and Gaurav Ratukumar Parekh, who drive the strategic shift toward advanced manufacturing and market adaptation.
Impact: HighSWOT Analysis
AI-generated strategic view
Strengths
- •Proven track record in large-scale operations.
- •Strategic supply chain management.
- •Advanced technology investment.
- •State-of-the-art manufacturing.
- •Future-ready automation.
Weaknesses
- •High debt-to-equity ratio as per latest financials.
- •Net debt to EBITDA ratio on the higher side raising leverage concerns.
- •Small scale of operations compared to larger industry peers.
Opportunities
- •Rising demand for precision engineering and automation solutions in India.
- •Capacity expansion through proposed plant and machinery purchases.
- •Opportunity to improve margins via technology upgrades and operating leverage.
Threats
- •Competitive pressure from larger engineering and fabrication companies.
- •Cyclical nature of capital goods and industrial investment demand.
- •Interest rate and credit cost risks due to existing borrowings.
Shayona Engineering - Documents & Links
Registrar
Company contact
Shayona Engineering Ltd.
Address: Shed No. 113/1, GIDC, Makarpura, M.I. Estate, Vadodara, Gujarat, 390010
compliance@shayonaengg.comhttp://www.shayonaengg.com/Lead managers
Frequently Asked Questions
Common questions about Shayona Engineering IPO.