Sai Infinium Files DRHP with SEBI to Raise Funds Via IPO

Sai Infinium Limited has filed its draft red herring prospectus (DRHP) with SEBI on April 2, 2025. The company plans to raise funds through an Initial Public Offering (IPO) consisting entirely of a fresh issue of 1.96 crore equity shares. There is no offer-for-sale (OFS) component in this issue. The IPO will be listed on both BSE and NSE. 

The quota split, as per the DRHP, is 75% for Qualified Institutional Buyers (QIBs), 15% for High Net-Worth Individuals (HNIs), and 10% for retail investors.

Background and Operations

Sai Infinium was originally incorporated in 2004 as Sai Bandhan Infinium. On March 30, 2024, the National Company Law Tribunal approved the merger of Sai Infinium and Fidelis International with the company. The company operates in the manufacturing of TMT bars and MS billets, as well as ship recycling. Its manufacturing facility is located in Bhavnagar, Gujarat, with an installed capacity of 300 metric tons per eight-hour shift.

The company produces MS billets from iron and steel scrap, which are sourced both from its own ship recycling operations and external suppliers. These billets are then used to manufacture TMT bars. Sai Infinium also engages in the investment and sale of real estate properties.

Use of IPO Proceeds

Issue Management

Sarthi Capital Advisors Private Limited is the book-running lead manager for the issue. KFin Technologies Limited is acting as the registrar.

Conclusion

The IPO timeline and price band are yet to be announced. The issue size in rupee terms has also not been disclosed in the DRHP. Investors will be watching closely as the IPO details unfold in the coming weeks.

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