Sharvaya Metals Hits Market with Rs 59-Crore IPO: A New Era of Growth

Sharvaya Metals launched a Rs 59-crore IPO, opening for public subscription on September 4. The funds will bolster infrastructure, production capacity, and working capital as the company targets growth in sectors like electric vehicles and defense. Anchor investors raised Rs 17 crore a day before its market debut.

Sharvaya Metals, a prominent aluminium product manufacturer, announced the launch of its Rs 59-crore initial public offering (IPO). The move, aimed at expanding the company's infrastructure and production capabilities, comes amidst an Rs 17-crore investment from anchor investors on the eve of going public.

On September 4, the IPO opened, offering a blend of fresh equity and existing shares. Key investments from NAV Capital, Craft Emerging Market Fund, and others highlight confidence in Sharvaya's growth, particularly in high-demand sectors like electric vehicles and defense.

Funds will address various capital needs, from plant and machinery acquisitions to working capital. Promoter Shreyans Katariya emphasizes the strategic expansion as the company seeks a strong foothold in burgeoning markets.

(With inputs from agencies.)