One of the growing MS Billets & TMT Bar Manufacturing Companies, Sai Infinium Limited, submitted its DRHP to the market regulator SEBI on April 2, 2025. It intends to raise funds through an initial public offering (IPO).
The IPO consists of an entirely fresh issue of 1.96 crore equity shares with no Offer-for-sale component.
Sai Infinium Limited, established in 2004, is a well-known company that specializes in the business of providing MS (“Mild Steel”) Billets & TMT (“Thermo Mechanically Treated”) Bar manufacturing, ship breaking (recycling and dismantling) and investing in and selling real estate properties in Gujarat.
Their manufacturing facility is situated at Bhavnagar, Gujarat, covering 53,781 sq. meters, installed capacity of 300 metric tons per eight-hour shift for producing TMT bars and MS billets. They optimize a wide range of materials like MS scrap, iron and steel waste, heavy melting scrap, shredded steel scrap, copper mold tubes, HC silico manganese, HR coils, sponge iron, and old MS plates.
The company decided to use the funds of ₹130 crore raised from the fresh issue for setting up the 17.4 MW hybrid power plant. The funds of ₹65 crore are for the purchase of a rolling mill for mild steel (MS) structures. The funds of ₹19 crore will be utilized to buy the cargo vessel (Ship – Corsica) for the ship breaking plant, whereas the remaining funds will be used for the company’s general corporate purposes.
The book-running lead manager of the issue is Sarthi Capital Advisors, whereas KFin Technologies Limited is the registrar of the issue.
Sai Infinium IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
Sai Infinium Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2022 | ₹155.04 | ₹151.51 | ₹2.34 |
| 2023 | ₹520.61 | ₹519.72 | ₹1.07 |
| 2024 | ₹475.79 | ₹463.28 | ₹9.05 |
| December 2024 | ₹381.26 | ₹333.35 | ₹32.84 |
Sai Infinium IPO Valuation – FY2024
Sai Infinium IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹3.22 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 7.39% |
| Net Asset Value (NAV): | ₹54.67 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Kamdhenu Limited | 18.61 | 1.60 | 23.52% | – | – Cr. |
| Vraj Iron & steel Limited | 23.22 | 6.44 | 9.23% | – | – Cr. |
| VMS Industries | 3.83 | 7.66 | 9.88% | – | – Cr. |
Objects of the Issue
- Funding of capital expenditure requirements towards setting up of the 17.4 MW Hybrid Power Plant – Gangiyavadar, Wankaner, Gujarat;
- Funding of capital expenditure requirements towards setting up of the Mild Steel (“MS”) Structures Rolling Mill – Bhavnagar, Gujarat;
- Purchase of Cargo Vessel (“Ship – Corsica”) for Ship Breaking Plant – Alang, Bhavnagar, Gujarat;
- General Corporate Purposes.
IPO Lead Managers aka Merchant Bankers
- Sarthi Capital Advisors Private Limited
