Shayona Engineering was incorporated on February 15, 2017. The firm started with basic machining and fabrication services at its GIDC Makarpura facility in Vadodara and gradually expanded by adding advanced machinery and skilled manpower. Over time, it evolved into a specialist in precision engineering, industrial automation, turnkey project machinery, dies and moulds, and industrial fabrication works
| Bidding Dates |
|---|
| 22 Jan 2026 - 27 Jan 2026 |
| Subscription |
|---|
| 5.21x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹2,80,000 | 2 | 2 | 1000 | 1.0 M | ₹140 - ₹144 | 64.15 % | ₹144.5 M - ₹148.6 M | RHP DOC |
Shayona Engineering IPO SUBSCRIPTION STATUS
27 Jan '26Shayona Engineering IPO overall subscription rate was 5.21 times the total available shares
Shayona Engineering IPO retail subscription rate was 6.9 times in the retail segment
Shayona Engineering IPO non-institutional investor subscription rate was 18.37 times in the non-institutional investor category
Shayona Engineering IPO Qualified Institutional Bidder subscription rate was 0.08 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
27 Jan 2026 (Day 3) | 6.9x | 18.37x | 0.08x |
23 Jan 2026 (Day 2) | 2.18x | 3.58x | 0.08x |
22 Jan 2026 (Day 1) | 1.5x | 2.76x | 0.08x |
Shayona Engineering FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| 8MFY26 | 19.1 | 2.5 | 2.3 | -8.0 | 21.3% |
| FY25 | 23.1 | 2.4 | -2.3 | -11.1 | 21.6% |
| FY24 | 15.3 | 1.7 | -0.2 | -1.7 | 19.7% |
| FY23 | 12.6 | 0.6 | -2.6 | -2.9 | 9.2% |
Shayona Engineering IPO SUBSCRIPTION STATUS DETAILS
Shayona Engineering had 1.0 M shares on offer
Shayona Engineering IPO offer price was in the range ₹140 - ₹144
Shayona Engineering IPO minimum Investment was ₹280000
Shayona Engineering IPO issue size was ₹ 144.5 M - ₹ 148.6 M
Shayona Engineering had a minimum lot size of 1000 Shares per application
Shayona Engineering NUMBER OF SHARES ON OFFER
Shayona Engineering IPO IMPORTANT DATES
| Issue Open Date | 22 Jan 2026 |
| Issue close Date | 27 Jan 2026 |
| Allotment Date | 28 Jan 2026 |
| Refund Date | 29 Jan 2026 |
| Demat Account Credit Date | 29 Jan 2026 |
| Listing Date | 30 Jan 2026 |
| Listing on Exchange(s) | BSE |
| Shayona Engineering Allotment Status | Exchange/ Registrar |
Shayona Engineering IPO subscription opened on 22 Jan 2026, and closed on 27 Jan 2026
IPO allotment for Shayona Engineering was finalized on Wednesday, 28 Jan 2026
IPO listing for Shayona Engineering was on BSE on Friday, 30 Jan 2026
Shayona Engineering IPO LISTING GAINS
| Issue Price (adjusted) | 144.0 |
| Listing Open Price | 144.0 |
| Listing Close Price | 151.0 |
| Listing Gain% | 0.0% |
| Current Gain% | 0.0% |
Shayona Engineering Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shayona Engineering Ltd. | 144 | 56 | 13.9 | 0.2 | 1.4 | 15.2 | 7.6 | 40.3 | 73.9 | 4 | 67.1 | 10.4 | 67.1 |
| Larsen & Toubro Ltd. | 4044.1 | 568969.4 | 34.3 | 7.5 | 2 | 14.7 | 3.6 | 291635 | 12.2 | 16084 | 7 | 117.9 | 4.5 |
| GMR Airports Ltd. | 105 | 110900.9 | 631.9 | 4.4 | 7.5 | -7.1 | 0.3 | 15200.8 | 40.3 | 175.5 | 144.7 | 0.2 | 144.7 |
| Rail Vikas Nigam Ltd. | 230 | 47947.1 | 54.8 | -1.7 | 2.3 | 8.9 | 4 | 21187.4 | 1.3 | 874.7 | -31.7 | 4.2 | -31.7 |
| NBCC (India) Ltd. | 94 | 25366.5 | 35.2 | 1.1 | 2 | 23.9 | 4.4 | 13195.9 | 7.5 | 720 | 33.1 | 2.7 | 33.1 |
| Kalpataru Projects International Ltd. | 1326.6 | 22654.7 | 21.8 | 0.3 | 0.8 | 13.4 | 3.8 | 27247.9 | 21.8 | 1040 | 77.6 | 60.9 | 77.5 |
Shayona Engineering INFORMATION ON IPO ISSUE
About Shayona Engineering
Shayona Engineering was incorporated on February 15, 2017. The firm started with basic machining and fabrication services at its GIDC Makarpura facility in Vadodara and gradually expanded by adding advanced machinery and skilled manpower. Over time, it evolved into a specialist in precision engineering, industrial automation, turnkey project machinery, dies and moulds, and industrial fabrication works
Object of the Issue
- Purchase of plant and machinery for the existing line of the business
- Repayment of secured loan availed by the company from financial institution
- Funding of the working capital requirements of the company
- General corporate purposes
Shayona Engineering - PROMOTERS
| Name |
|---|
| Vipul Bhikhabhai Solanki |
| Gaurav Ratukumar Parekh |
| Kinnariben Vipulbhai Solanki |
Shayona Engineering - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Vipul Bhikhabhai Solanki | Chairman & Managing Director |
| Gaurav Ratukumar Parekh | Whole-time Director |
| Kinnariben Vipulbhai Solanki | Whole-time Director |
| Miteshkumar Ghanshyambhai Rana | Non-Executive Independent Director |
| Arpita Tejaskumar Shah | Non-Executive Independent Director |
| Sagar Natvarlal Tailor | Non-Executive Independent Director |
Shayona Engineering Book Running Lead Manager
Horizon Management Private Limited
smeipo@horizon.net.co
Shayona Engineering Registrar to the issue
KFin Technologies Limited
sel.ipo@kfintech.com
Shayona Engineering Strengths
Future-ready automation
The company is committed to adopting advanced automation systems and technology-driven machinery to enhance operational efficiency, reduce production time, and minimize errors. This strategic focus supports high production standards, strengthens competitiveness, and enables efficient fulfillment of customer demands as the business scales
Supply chain management
The company’s robust procurement network and diversified client base help manage supply chain fluctuations and changing market demand effectively. Strong supplier and customer relationships, along with a versatile product portfolio, ensure stable operations and flexibility across multiple sectors
Advanced technology investment
The company maintains its industry leadership by investing in advanced technology, including modern CNC and VMC machines to handle larger and more complex components. These investments enhance precision, speed, and production flexibility, enabling execution of more sophisticated projects
Shayona Engineering Risks
Price & availability of raw material
The company’s operations are influenced by the prices, availability, and quality of raw materials, which are sourced from specialized suppliers of high-grade metals and steel meeting strict industry standards. Raw material requirements are procured on a monthly basis based on order volumes and project needs, ensuring uninterrupted production across automotive and engineering segments
Depend on third party logistics
The company’s operations depend on stable logistics and transportation, and any disruption could affect timely procurement and delivery of materials or increase costs. It relies on third-party road transport in the domestic market, where delays, disruptions, or unforeseen risks may impact delivery schedules and require higher inventory levels, increasing operational costs
Product defect or errors
Latent defects may arise in the company’s products despite pre-dispatch testing, potentially leading to higher after-sales costs, replacements, or product recalls during the 12-month warranty period. Such issues could increase support and repair expenses, delay market acceptance, and adversely affect its reputation, business, and financial condition
IPO FAQs
The promoters of the company are Vipul Bhikhabhai Solanki, Gaurav Ratukumar Parekh and Kinnariben Vipulbhai Solanki.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 140.0 - 144.0.
The IPO application opens on Jan 22, 2026 and closes on Jan 27, 2026.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 280,000.0, the maximum value for this IPO is Rs 288,000.0.
This IPO will be allotted on Jan 28, 2026.
The refund will be credited to your account on Jan 29, 2026.
The allotted shares will be credited to your demat on Jan 29, 2026.
Shayona Engineering Ltd.’s shares listed on the stock exchanges on Jan 30, 2026.