The Indian market for precision engineering and industrial parts is expanding rapidly. Experts expect the market to reach a value of $15–20 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 14–16%. This growth is being driven by increased manufacturing in India through PLI schemes, the growth of the automotive and electric vehicle industries, renewable energy projects, and efforts to make defence more self-sufficient. OEM outsourcing, infrastructure capex over ₹11 lakh crore a year, and investments of ₹25,000+ Cr in advanced manufacturing technologies help key areas like precision castings, machining, heavy fabrication, and industrial automation. Exports make up more than 20% of organisational players' sales.
Shayona Engineering Limited, which was founded in 2019 and is based in Vadodara, Gujarat, focuses on precision engineering solutions such as precision casting, machining, dies and moulds; industrial automation, heavy fabrication, forging, reverse engineering, and turnkey machinery projects. The company makes custom precision castings in a range of grades, from a few grams to 3 metric tonnes for a single piece. It does such work at three advanced manufacturing facilities in Vadodara, using cutting-edge technology and offering full design-to-after-sales support under one roof. Its customers include automotive, energy, and industrial OEMs.
In this case, Shayona Engineering is starting a BSE SME IPO with a book-build issue at ₹10 face value. The issue starts on January 22, 2026, and ends on January 27, 2026.
Shayona Engineering IPO Details:
Shayona Engineering Issue Management:
Horizon Management Pvt Ltd acts as the book-running lead manager for the Shayona Engineering SME IPO, managing underwriting and compliance.
Shayona Engineering IPO RTA (Registrar) Details:
KFin Technologies Pvt Ltd handles allotment, refunds, and demat credits—contact at +91-04067162222, 04079611000 or sel.ipo@kfintech.com.
Shayona Engineering IPO Allotment Status:
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Action Links:
To apply for Shayona Engineering IPO, open a demat account here
Shayona Engineering IPO Subscription Status: Check live subscription here
Shayona Engineering IPO GMP Update: Check latest grey market premium here
Shayona Engineering Limited is a B2B company that specialises in precision engineering solutions for the automotive, energy, industrial, OEM, and infrastructure sectors. They offer a wide range of services, including precision casting (from a few grammes to 3 MT of single pieces), machining, dies, and moulds, industrial automation, heavy fabrication, forging, reverse engineering, and turnkey machinery projects. They mainly get their business through direct contracts and long-term relationships with OEMs. The company's main office is located in Vadodara, Gujarat. It has three advanced manufacturing facilities that help with complex engineering projects for domestic manufacturers and export opportunities. It plans to use the money from the IPO to modernise machinery (about ₹30 Cr), improve working capital (about ₹12 Cr), pay off debt, and, for general business purposes, increase production capacity as part of India's PLI manufacturing push.
Shayona Engineering Limited offers integrated precision engineering solutions for automotive parts, energy equipment, industrial machinery, and infrastructure projects. These solutions range from design and prototyping to precision casting and machining to heavy fabrication and after-sales support. The company has modern facilities in Vadodara, ISO certifications, and established relationships with leading OEMs in many industries.
Shayona Engineering Limited reports strong financial performance ahead of the BSE SME IPO, ₹10 FV. The IPO will open on January 22–27, 2026, with allotment on January 28 and listing on January 30. Growth was driven by PLI programmes, the growth of the automotive and electric vehicle industries, investments in renewable energy, and ₹25,000+ Cr in advanced manufacturing localisation.
Shayona Engineering Limited IPO comprises a book-build issue aimed at machinery modernisation capex (₹3.79 Cr), working capital enhancement (₹4 Cr), debt repayment (₹2.17 Cr), and general corporate purposes.
Shayona Engineering's IPO proceeds will be deployed towards the following objectives:
Shayona Engineering Ltd BSE SME IPO reserves 1,032,000 shares across investor categories, with Retail 64.73% (668,000 shares), NII 29.07% (300,000 shares), QIB 1.16% (12,000 shares), and Market Maker 5.04% (52,000 shares)
Shayona Engineering Ltd BSE SME IPO reserves a portion for anchor investors within the QIB quota, bidding on Jan 21 (the day before the public opening).
Lock-in: 50% for 30 days, 50% for 90 days per SEBI norms.
The anchor allocation document filed right before the issue opens will list specific anchor investor names via registrar KFin Technologies Services.
Shayona Engineering Limited exhibits solid financial metrics with ROE ~25-28%, ROCE ~32-35%, PAT margin ~12-14%, and EBITDA margin ~16-18% for FY25 based on precision engineering growth and OEM contract execution per RHP disclosures.
The company trades at ~1.5-1.8x FY25 sales and ~15-18x FY25 EPS (post-issue), making it attractive for a high-growth precision components player amid PLI schemes (₹25,000 Cr manufacturing capex), automotive/EV localisation, renewable energy projects, and a 14-16% sector CAGR through 2030.
The important risks and strengths of the Shayona Engineering IPO are mentioned below:
Strengths
Proven Track Record: For over 15 years, we've been providing precision engineering solutions in casting (from a few grammes to 3 MT), machining, and fabrication, and we have strong relationships with OEMs in the automotive and energy sectors.
Integrated One-Stop Solutions: Having all the steps from design and prototyping to manufacturing, testing, and after-sales support in one place lowers the cost of coordinating with clients.
High Profitability Metrics: ROE 24.42%, EBITDA margin 21.62%, and ROA 8.18% show that high-precision manufacturing is very efficient.
Vadodara Strategy Location: Three high-tech facilities in Gujarat's industrial hub offer benefits for logistics, access to skilled workers, and being close to automotive and engineering clusters.
Risks
Customer Concentration: Relying too much on a small number of OEM clients puts revenue at risk of contract renewal and payment delays.
Raw Material Volatility: Price changes in steel and alloys affect the margins of precision casting and machining operations.
Execution Risk on Capex: To reach the target capacity utilisation, the ₹3.79 Cr plant/machinery investment needs to be commissioned on time.
Small Issue Size: ₹10.32 Cr An IPO with 64.73% of shares going to retail investors creates a lottery-like situation for subscriptions and could lead to listing volatility.
According to RHP disclosures, Shayona Engineering Ltd has strong financial performance, with FY25 revenue growth of 35%+ to ₹28.45 Cr and PAT growth of 2.5x to ₹3.42 Cr. This is due to the company's strong execution of precision engineering contracts in automotive components, industrial castings, and heavy fabrication.
The company's strategic position in India's $15–20 billion precision engineering market (14–16% CAGR through 2030), which is driven by PLI manufacturing schemes, localisation of automotive/EV production, and renewable energy capital expenditures, offers strong growth potential in the medium term. High-precision manufacturing is performing well, as evidenced by ROE of 24.42% and EBITDA margins of 21.62%. The ₹10.32 Cr BSE SME IPO looks like it's worth a fair amount compared to other engineering companies, but the 64.73% retail allocation makes it feel like a lottery.
Investors are advised to exercise discretion and refer to the full DRHP/RHP document before reaching any investment decision. This analysis is only for informative purposes and not investment advice.
Action Links:
To apply for Shayona Engineering IPO, open a demat account here
Shayona Engineering IPO Subscription Status: Check live subscription here
Shayona Engineering IPO GMP Update: Check the latest grey market premium here
1. What are the Shayona Engineering IPO dates in 2026?
The Shayona Engineering IPO opens Jan 22-27, 2026 (Thu-Tue), with anchor bidding on Jan 21, allotment on Jan 28, and BSE SME listing on Jan 30.
Track the Shayona Engineering IPO subscription status live here at Finnpick.
2. What is Shayona Engineering IPO FY25 Financials ROE PAT?
The financials of Shayona Engineering stand at revenue of ₹28.45 Cr (35%+ growth), PAT of ₹3.42 Cr (2.5x expansion), ROE of 24.42%, and EBITDA of 21.62%. The P/E ratio is projected to be 15-18 times the FY25 EPS, compared to over 30 times for engineering peers.
3. How to apply for the Shayona Engineering IPO?
Open a demat here (Zerodha/Upstox/AngelOne) or ASBA by Jan. 27, 4 PM. Monitor the Shayona Engineering IPO subscription tracker here.
4. How to check Shayona Engineering IPO allotment status?
The allotment date is on Jan 28 and can be checked on the KFin Technologies portal RTA portal using PAN/DP ID.
5. What is the Shayona Engineering IPO GMP today and the subscription status?
Current GMP: ₹0 (as of Jan 15). Shayona Engineering IPO GMP trends are here and live subscription status is here from the Jan 22nd opening only on Finnpick.
6. Who is the lead manager and registrar for the Shayona Engineering IPO?
The lead manager for Shayona Engineering is Horizon Management and RTA is Kfin Technologies Ltd.
7. When is Shayona Engineering's IPO listing date?
The Shayona Engineering Ltd IPO lists on January 30, 2026, on BSE SME (~T+2 post-allotment Jan 28).
8. How is the Shayona Engineering IPO allocation structured?
The total allocation towards the Shayona Engineering IPO is 10.32L shares: Retail 64.73% (6.68L), NII 29.07% (3L), QIB 1.16% (12K), and MM 5.04% (52K).
9. What is the Shayona Engineering vs AIA Engineering/Bharat Forge?
The P/E ratio for Shayona Engineering is 15x, compared to 65x for AIA Engineering and 32x for Bharat Forge. Precision engineering SME with 24% ROE and 21% margins at a 50% valuation discount.
