Shayona Engineering to list on Jan 30: Here's what latest GMP hints at
Shayona Engineering IPO witnessed an overwhelming response from investors, getting oversubscribed by 5.43 times overall
 "Shayona Engineering to list on Jan 30: Here's what latest GMP hints at")
Shayona Engineering IPO listing forecast: Shayona Engineering, a customised engineering solutions provider, will make its debut on the BSE SME platform on Friday, January 30, 2026, and the grey market is indicating a flat start.
The SME initial public offering (IPO), worth ₹14.86 crore, comprised a fresh issue of 1 million equity shares.
The IPO witnessed an overwhelming response from investors, getting oversubscribed by 5.43 times overall. Investors placed bids for 5.32 million equity shares against 0.98 million shares on offer. The non-institutional investors (NIIs), whose quota was booked 9.30 times, emerged as higher bidders. The qualified institutional buyers (QIBs) and retail investors also showed solid interest, subscribing to their portions by 3.33 times and 3.73 times, respectively, according to BSE data.
The allotment for the IPO was finalised on Wednesday, January 29, 2026, and investors are now awaiting the listing.
Ahead of its listing, Shayona’s unlisted shares were trading flat at ₹144 per share, the upper end of the price band of ₹140 to ₹144, as per sources tracking unofficial markets.
If grey market trends sustain, Shayona Engineering's shares could list around ₹144, signalling a flat listing for the investors. However, analysts warn that the grey market is unregulated, and the GMP is not a reliable predictor of actual listing performance.
Shayona Engineering IPO details
The IPO comprised a fresh issue of 1 million shares aggregating to ₹14.86 crore. The issue was available at a price band of ₹140 to ₹144 per share, with a lot size of 1,000 shares. The public issue was open for subscription from January 22 to January 27, 2026.
Kfin Technologies is the registrar for the issue. Horizon Management is the sole book-running lead manager.
According to the red herring prospectus (RHP), the company plans to utilise the net fresh issue proceeds to purchase plant and machinery for its existing business, repay secured loans, meet working capital requirements, and cover general corporate purposes.
Established in 2017, Shayona Engineering is involved in the business of precision castings, machining, dies and moulds, industrial automation, heavy fabrication, casting, forging, reverse engineering, and turnkey project machinery. The company offers customised solutions for precision castings in special grades, with weights ranging from a few grams to 3 metric tonnes in a single piece. It operates three facilities in Vadodara, Gujarat.