Shayona Engineering IPO offers investors a focused bet on a growing precision engineering, machining and fabrication company with strong margins and return ratios, but with SME‑style risks and a high minimum application size.​

Shayona Engineering IPO overview

• Shayona Engineering Ltd, incorporated in 2010, operates in machining, dies and moulds, industrial automation, heavy fabrication, castings, forgings, reverse engineering and turnkey project machinery, serving multiple engineering industries.​

• The company aims to be a trusted supplier for automobiles, pumps, valves, mining equipment, power plants and other engineering sectors, backed by specialised technology and equipment.​
• As of 15 January 2026, Shayona Engineering employed 22 personnel, indicating a relatively small but specialised workforce.​

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Key IPO details, dates and lot size

• IPO schedule:

  • Open date: 22 January 2026.
  • Close date: 27 January 2026.
  • Basis of allotment: 28 January 2026.
  • Refunds and credit to Demat: 29 January 2026.
  • Listing date: 30 January 2026 (cut‑off 5 PM on closing day).​
• Market lot and ticket size:
  • Minimum market lot: 2,000 shares.
  • Retail minimum/maximum: 2,000 shares with application amount of ₹2,88,000, classifying it as a high‑ticket SME IPO.​
• Reservation structure:
  • QIB (ex‑anchor): 12,000 shares (1.16%).
  • NII: 3,00,000 shares (29.07%).
  • Retail: 6,68,000 shares (64.73%).​
• Promoters and shareholding:
  • Promoters: Vipul Bhikhabhai Solanki, Kinnariben Vipulbhai Solanki and Gaurav Ratukumar Parekh.​
  • Promoter holding pre‑issue: 28,60,268 shares (87.29%).
  • Promoter holding post‑issue: 38,92,268 shares (percentage not specified) with continued majority influence.​

• Objective of the issue:

  • Purchase of plant and machinery for existing business line – ₹3.79 crore.

  • Repayment of secured loans from financial institutions – ₹2.17 crore.
  • Funding working capital requirements – ₹4.00 crore.
  • General corporate purposes – balance amount.​

Financials and valuation snapshot

• FY2025 key metrics:
  • ROE: 34.81%.
  • ROCE: 29.03%.
  • EBITDA margin: 21.64%.
  • PAT margin: 10.44%.
  • EPS (basic): ₹9.14.
  • RoNW: 34.81%.
  • NAV per share: ₹37.45.
  • Debt‑equity ratio: Not specified, but loan repayment is one of the IPO objectives.​
• Peer comparison: No listed peers are identified for Shayona Engineering in the RHP/

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Strengths

• Diversified engineering capabilities across machining, dies and moulds, industrial automation, heavy fabrication, casting, forging and turnkey project machinery, reducing dependence on a single revenue stream.​
• Presence as a solution‑oriented engineering company catering to automobiles, pumps, valves, mining equipment, power plants and other industrial sectors.​
• Strong revenue growth from ₹12.63 crore in FY2023 to ₹23.18 crore in FY2025, with robust PAT improvement from ₹0.61 crore to ₹2.42 crore over the same period.​
• Healthy profitability profile with FY2025 EBITDA margin at 21.64% and PAT margin at 10.44%, solid for a small precision engineering player.​
• High return ratios – ROE and RoNW at 34.81% and ROCE at 29.03% in FY2025 – signal efficient capital utilisation and strong business economics.​
• EPS of ₹9.14 in FY2025 provides a reasonable earnings base for valuation, subject to the actual IPO price band.​
• IPO funds toward new plant and machinery should help expand capacity, improve productivity and support more complex engineering assignments.​

Risks

• SME IPO with a high minimum lot size of 2,000 shares (₹2,88,000) restricts participation to investors with higher ticket sizes and risk appetite.​
• Small scale of operations with FY2025 revenue at ₹23.18 crore; any order delays, cancellations or client loss can materially affect financials.​
• Neutral IPO review indicates that valuations and risk‑reward may not be clearly favourable, necessitating deeper investor due diligence.​
• Concentration risk towards specific industrial segments (auto, pumps, valves, mining, power plants) which are cyclical and capex‑linked.​
• Absence of listed peers makes valuation benchmarking challenging, especially if the IPO is priced aggressively.​
• Limited workforce (22 employees as of January 2026) may stretch execution capacity as order size and complexity increase.​

How To Apply for the IPO ?

• Login or Open demat account with JM Financial Services / JM PRO app: Open the JM PRO app or JM Financial Services website and log in with your credentials. 

• Locate the IPO Section: Navigate to the 'IPO' section on the platform. 
• Select IPO: Find and select the IPO from the list of open IPOs. 
• Enter the Lot Size: Specify the number of lots you want to bid for. 
• Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application. 
• Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN. 

How To Check the Allotment Status of IPO?

Steps to check IPO allotment status on JM Pro app: 

• Log in to the JM Pro app. 
• Go to the IPO Section and then to IPO Orders. 
• Select the individual IPO that you had applied for and check the allotment status. 

JM Financial Services will notify you of your IPO allotment status via push notification and email

Here are FAQs you can plug into the Shayona Engineering IPO blog.

FAQs

1. What is Shayona Engineering IPO?
Shayona Engineering IPO is a SME public issue of Shayona Engineering Ltd, a precision engineering company engaged in machining, dies and moulds, industrial automation, heavy fabrication, castings, forgings, reverse engineering and turnkey project machinery.​

2. When does Shayona Engineering IPO open and close?
The Shayona Engineering IPO opens for subscription on 22 January 2026 and closes on 27 January 2026; allotment is on 28 January, refunds and Demat credit on 29 January, and listing on 30 January 2026.​

3. What is the Shayona Engineering IPO lot size and minimum investment?
The minimum lot size is 2,000 shares, and the minimum retail investment amount is ₹2,88,000, placing it in the high‑ticket SME IPO category.​

4. What are the key financials of Shayona Engineering before the IPO?
In FY2025, Shayona Engineering reported revenue of ₹23.18 crore and PAT of ₹2.42 crore, with ROE and RoNW at 34.81%, ROCE at 29.03%, EBITDA margin at 21.64%, PAT margin at 10.44% and EPS of ₹9.14.​

5. How will the Shayona Engineering IPO proceeds be used?
IPO proceeds are planned for purchase of plant and machinery (₹3.79 crore), repayment of secured loans (₹2.17 crore), funding working capital requirements (₹4 crore) and general corporate purposes, supporting capacity expansion, de‑leveraging and growth.​