Sai Infinium IPO (DRHP filed)
Sai Infinium Limited filed its draft red herring prospectus with SEBI on 30 Sep 2026. Price band, lot size and issue dates are announced only after SEBI observations and the RHP filing.
Last updated
- Stage
- DRHP Filed
- DRHP filed
- 30 Sep 2026
- Days since
- 31
- Issue size
- —
- Board
- Mainboard
- Price band
- TBA
Sai Infinium IPO status
Sai Infinium Limited filed its draft red herring prospectus (DRHP) with SEBI on . The issue can open only after SEBI issues its observations and the company files the RHP with the price band.
| DRHP filed | 30 Sep 2026 |
|---|---|
| Days since filing | 31 |
| SEBI observation | Awaited |
| Price band | TBA |
| Issue dates | TBA |
Share reservation by category
| Category | Shares Details |
|---|---|
| Qualified Institutions | Not More Than 50% of the Net Issue |
| Retail Investors | Not Less Than 35% of the Net Issue |
| Non-Institutional | Not Less Than 15% of the Net Issue |
Sai Infinium Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹549.92 Cr to ₹696.43 Cr, and profit after tax rose from ₹43.75 Cr to ₹82.38 Cr. The PAT margin for 31 Mar 2026 was 11.83%.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 849.59 | 471.81 | 280.48 |
| Total Income | 696.43 | 549.92 | 478.91 |
| Profit After Tax | 82.38 | 43.75 | 6.14 |
| EBITDA | 128.19 | 53.79 | 27.67 |
| Net Worth | 459.40 | 325.75 | 193.94 |
| Reserve & Surplus | 332.65 | 200.13 | 74.19 |
| Total Borrowings | 357.57 | 68.63 | 90.68 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | Mar 2026 | Mar 2025 | Mar 2024 |
|---|---|---|---|
| ROE % | 21.00 | 16.91 | 4.84 |
| ROCE % | 16.73 | 20.88 | 8.47 |
| Debt / Equity | 0.91 | 0.27 | 0.71 |
| RoNW % | 17.93 | 13.43 | 3.17 |
| Pat Margin % | 11.83 | 7.96 | 1.28 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Sai Infinium Ltd | 2 | — | 2.80 | 2.80 | 17.93% | 15.40 |
| VMS Industries Ltd | 10 | 30.15 | 0.60 | 0.60 | 1.51% | 39.70 |
| Vraj Iron and Steel Ltd | 10 | 12.97 | 9.70 | 9.70 | 7.45% | 130.31 |
| Rudra Global Infra Products Ltd | 5 | 14.92 | 1.35 | 1.35 | 9.74% | 13.82 |
| VMS TMT Ltd | 10 | 9.54 | 4.95 | 4.95 | 9.22% | 45.97 |
| Gallant Ispat Ltd | 10 | 27.19 | 20.07 | 20.07 | 14.60% | 137.44 |
| MSP Steel Power Ltd | 10 | 59.12 | 0.60 | 0.56 | 3.28% | 18.18 |
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding the capital expenditure requirements of our Company towards expansion of manufacturing capacity of MS Billets by installation of induction melting system of 50 (1x50) tonnes at Survey No. 1016/2 and 1019 Paiky -B, Chamardi Village, taluka – Vallabhipur, Bhavnagar - 364310, Gujarat | 210.00 |
| 2 | General corporate purposes | 0.00 |
| Total | 210 |
About Sai Infinium Limited
Sai Infinium Limited, incorporated in 2004, is primarily engaged in the manufacturing and sale of Thermo Mechanically Treated (TMT/TMX) bars and structural steel products under its brand “Bandhan.” Its product portfolio includes TMT bars in various grades and sizes, along with structural steel products such as angles, beams, channels, girders, flat bars and rods.
The company also manufactures MS Billets, which are largely used for captive consumption in its steel manufacturing operations, with the balance sold to rolling mills and traders. Its manufacturing facility is located at Chamardi Village, Vallabhipur, Bhavnagar, Gujarat, with an installed capacity of 108,000 MTPA for MS Billets and 108,000 MTPA for TMT bars.
Sai Infinium markets its long steel products primarily across Gujarat, Rajasthan and Punjab, with Gujarat accounting for the majority of its sales. As of March 31, 2026, its sales network comprised 222 dealers in Gujarat and 4 dealers in Punjab, along with distributors across Gujarat, Rajasthan and Punjab.
In addition to steel manufacturing, the company has diversified operations spanning ship recycling, trading of ferrous and non-ferrous scrap, and real estate. Its real estate activities primarily involve the acquisition, sale and leasing of commercial properties in Gujarat for capital appreciation and rental income generation.
The company commenced manufacturing of MS Billets after installing its Melting Shop in Fiscal 2021, strengthening its semi-integrated manufacturing capabilities. Its key strengths include a single-location semi-integrated manufacturing facility with multi-product capabilities, diversified revenue streams, an extensive steel product portfolio, a strong dealer network, experienced management, and a consistent track record of growth and financial performance.
HUMAN RESOURCES
As of March 31, 2026, March 31, 2025 and March 31, 2024, we had a workforce comprising of 413, 314 and 260
permanent employees and 88, 78 and 23 contract labourers, respectively.
Promoters
Shivnarayan Bansal
Ishu Bansal
Devansh Infinium Pvt.Ltd.
Contact details
Sai Infinium Limited
3 rd Floor, Plot No. 2137, Bansal House,
Near Golden Arc, Atabhai Chowk,
Bhavnagar, Gujarat, 364002
Telephone: 0278 2565062
Email: investors@infiniumgroup.in
Website: https://www.bandhanglobal.com/
Sai Infinium IPO FAQs
- Has Sai Infinium IPO filed for an IPO?
- Sai Infinium Limited filed its draft red herring prospectus (DRHP) with SEBI on 30 Sep 2026.
- When will the Sai Infinium IPO open?
- Issue dates are announced after SEBI observations and the RHP filing. They are not available yet.
- What is the Sai Infinium IPO price band?
- The price band is announced a few days before the issue opens. It is not available yet.
Details are from the draft prospectus and can change in the final RHP. This is not investment advice.