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InnerKore IPO
DRHPLast filing 1 Oct 20262 medium

Sai Infinium Limited

CIN
Source documents

Sai Infinium Limited (CIN U35105GJ2004PLC044607) has filed a Draft Red Herring Prospectus with SEBI for an IPO comprising a fresh issue of ₹280 Cr and an offer for sale of 1.2 Cr shares. In FY26 it reported revenue of ₹689 Cr (+30.4% on FY25) and a net profit of ₹82 Cr. Promoters hold 92.0% before the IPO. Our earlier look-up of its claims found 2 medium or high concerns across 40 claims looked up.

Read from public SEBI filings; last updated . Not investment advice.

Key signals

Read from the filing. Signals summarise it; they are not a recommendation or investment advice.

  • ValuationNot available
    Not yetThe price band isn't out, so P/E and price-to-book can't be worked out.
  • GrowthLooks fine
    21.3% a yearSales FY24 to FY26; latest year +30.4%.p.111
  • ProfitabilityLooks fine
    12% net marginFY26; operating margin improving.p.111
  • DebtLook closer
    0.91x equity₹358 crore borrowed at the end of FY26.p.111
  • 100% of profitOperations brought in ₹82.5 crore against ₹82.4 crore of profit in FY26.p.111
  • One-off incomeLook closer
    6% of profitOther and one-off income is 6% of pre-tax profit; management describes 1 one-off item.p.543
  • Not comparable yetFresh issue of ₹280 crore; offer for sale of 1.2 Cr shares. The two aren't in the same unit until the price band is out.p.155
  • Red flagsLook closer
    2 to review40 claims looked up earlier: 0 high, 2 medium concern.
How we rate these
  • Valuation: P/E at the top of the band: up to 25x good, up to 40x watch, above that concern.
  • Growth: Sales growth per year: 20% or more good, 8% or more watch, below that concern.
  • Profitability: Net profit margin: 10% or more good, 4% or more watch, below that concern. The trend note compares operating margin with the year before (1.5 points either way).
  • Debt: Borrowings / net worth: up to 0.5x good, up to 1.5x watch, above that concern.
  • Profit into cash: Cash from operations as a share of net profit: 80% or more good, 40% or more watch, below that (or negative) concern.
  • One-off income: Other and one-off income as a share of pre-tax profit: up to 10% good, up to 30% watch, above that concern. Any one-off item management itself describes moves "good" to "watch".
  • Where the money goes: Offer for sale as a share of the whole issue: under 40% good, under 75% watch, above that concern. In an offer for sale the money goes to the selling shareholders, not the company.
  • Red flags: Earlier web look-ups of the filing's claims: any high-concern finding is concern, any medium is watch, otherwise good.

Rules are rules of thumb, not a verdict: a fast-growing business can reasonably carry a higher P/E, and some sectors run on debt.

The IPO

What Sai Infinium Limited is offering, at what price, and who owns it today. Read from the DRHP; anything the company hasn't fixed yet shows as pending.

Draft under SEBI review

Price band and dates are announced only once the RHP is filed.

Fresh issue
₹280 Cr
New money for the company
Offer for sale
1.2 Cr shares
Amount set at the price band
Price band
To be announced
Announced with the RHP
Shares today
29.83 Cr
Before the IPO
Face value
₹2
Listing on
BSE & NSEEQ
Lead managers
Fedex SecuritiesNeomile Capital Advisors
Registrar
KFin Technologies
Read from p.1p.88p.106p.107+2

Where the money goes

Earmarked for specific objects
₹210 Cr

of a ₹280 Cr fresh issue

Object₹ crore% of issue
Capex
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
75%
General corporate
General corporate purposes
Not fixed yetn/a

Amounts marked “not fixed yet” are left blank in the draft and are set once the price is decided. The offer-for-sale portion is not shown here: that money goes to the selling shareholders, not the company. Source: page 155

Who owns it

Promoters hold before the IPO
92.0%

As stated in the filing. The full shareholding table could not be cross-checked.

Valuation

Valuation comes with the price band. P/E, price-to-book and price-to-sales need an offer price, and draft filings leave it blank. We'll compute them here as soon as the RHP announces the band.

Business model

Is Sai Infinium Limited a good business, and why? Its market, industry, edge and team, each rated by a stated rule.

Each domain is scored from -10 to +10 by a stated rule, with the evidence behind it. There is no overall score and no buy or sell verdict.

Read the business-model analysis

Financials

What Sai Infinium Limited earned and how, read straight from its DRHP.

Sales FY26
₹689 Cr
+30.4% vs FY25
Net profit FY26
₹82 Cr
12.0% net margin
Net worth
₹392 Cr
Debt / equity 0.91x
Operating cash flow FY26
₹83 Cr
Cash generated by the business
₹ crore · As reported · FY = year ended 31 MarchSource p.109p.111p.112
MetricFY24FY25FY26
Profit & loss
Sales468529689
Sales growth–12.9%30.4%
Operating profit2854128
Operating margin5.9%10.2%18.6%
Other income11217.3
Interest109.613
Depreciation206.710
Profit before tax8.259113
Profit before tax excl. other & one-off income-2.538106
Other & one-off income as % of PBT129.9%36.2%6.4%
Tax rate-25.5%-25.6%-27.0%
Net profit6.14482
Net margin1.3%8.3%12.0%
EPS (₹)0.432.801.59
Balance sheet
Net worth127259392
Borrowings9169358
Total assets280472850
Debt / equity0.71x0.27x0.91x
Return on equity4.8%16.9%21.0%
Cash flow
Cash from operations-17-2883
Cash from investing-17-30-387
Cash from financing3357331

Non-recurring items

One-off items management describes in its own discussion of the results. They are real, but they do not come from day-to-day operations and may not repeat, so an analyst would set them aside when judging the recurring business.

  • Other

    Write offs during the period/year in respect of trade receivables were 4.75 (Fiscal 2026), 13.28 (Fiscal 2025), and a negative amount (Fiscal 2024).

    p.543

How they earn

Where the revenue comes from. Each split adds up to the reported sales.

Revenue split based on product group

₹ crore · Source p.453
SegmentFY24FY25FY26Share of FY26
TMT Bar28740638355.5%
Ferrous & Non - Ferrous Scrap166.515222.1%
Others31857911.5%
Billet13331395.7%
Structural Items0.000.00365.2%

Revenue breakdown

₹ crore · Source p.46
SegmentFY24FY25FY26Share of FY26
Dealers*25321429743.1%
Customers18112327039.2%
Distributors*3419212217.7%

Full statements

As printed in the filing's summary financial information, converted to ₹ crore.

₹ crore (per-share figures in ₹), as restated in the filing. Click + to see what a line is made of.Source p.111
Line itemFY24FY25FY26
Revenue from operations468529689
Other income11217.3
479550696
Finance costs109.613
Depreciation and amortization expense206.710
471491584
Restated Profit before tax (III = I-II)8.259113
Deferred tax Expense0.96-5.5-4.2
-2.1-15-30
Restated Profit for the year (V=III-IV)6.14482
Basic (Rs. per share) (Considering effect of Split of shares)0.432.801.59
0.432.801.59
₹ crore (per-share figures in ₹), as restated in the filing. Click + to see what a line is made of.Source p.109
Line itemFY24FY25FY26
Property, Plant and Equipment9490302
Goodwill0.000.000.00
Investments0.000.000.00
126182680
Inventories10819779
Investments0.000.000.00
Trade Receivables444423
Cash And Cash Equivalents0.590.2627
155290169
Total Assets (A+B)280472850
Equity Share capital535960
Other Equity74200333
127259392
Borrowings5227313
5637326
384145
₹ crore (per-share figures in ₹), as restated in the filing. Click + to see what a line is made of.Source p.112p.113
Line itemFY24FY25FY26
Restated Profit before tax8.259113
Profit /(Loss) on sale of assets and investments-0.36-160.01
Operating profit before working capital changes3959134
-17-2883
-17-30-387
3357331
Net Increase in cash and cash equivalents0.30-0.3227
Cash and cash equivalents at beginning of period0.280.590.26
Cash and cash equivalents at end of period0.590.2627
Total Cash and Cash Equivalents0.590.2627
0.590.2627

Discounted cash flow

What Sai Infinium Limited's cash flow would be worth today. Change the rate, time period or growth to see how sensitive the answer is.

% / yr
years
% / yr
Worth today (10 years of cash)
₹1,178 Cr
Per share
–
Needs the price band.
Top of the price band
–
0200400600Year 1: ₹99 Cr projected, ₹88 Cr in today's money1Year 2: ₹119 Cr projected, ₹93 Cr in today's money2Year 3: ₹143 Cr projected, ₹99 Cr in today's money3Year 4: ₹171 Cr projected, ₹106 Cr in today's money4Year 5: ₹205 Cr projected, ₹112 Cr in today's money5Year 6: ₹246 Cr projected, ₹120 Cr in today's money6Year 7: ₹296 Cr projected, ₹127 Cr in today's money7Year 8: ₹355 Cr projected, ₹135 Cr in today's money8Year 9: ₹426 Cr projected, ₹144 Cr in today's money9Year 10: ₹511 Cr projected, ₹153 Cr in today's money10
Projected cash flow (₹ Cr) Worth today at 12.8% a yearAlong the bottom: years from now

Starting rate 12.8%: the cost of equity for the industry group Industrial Products, September 2026. It is the 10-year government bond yield of 7.41% less India's default spread of 1.87%, plus beta 1.03 from 154 listed companies times an equity risk premium of 7.08%. The yield is from Investing.com, India 10-year bond yield (historical data page); the premium is from Damodaran, Country Default Spreads and Risk Premiums (NYU Stern). Change the rate above to test other views.

Starts from FY26 cash from operations of ₹83 Cr, grown 20% a year (based on revenue growth FY24–FY26, capped at 20%) and discounted at 12.8% a year, with no value counted beyond year 10. A simple illustration from the filing's numbers, not a forecast or investment advice; small changes to the rate or growth move the answer a lot.

The short version

Start here. The story in a few minutes, with every fact tied to the page it came from.

Here’s a detail you probably missed about Sai Infinium Limited: while there are ongoing legal proceedings before the NCLT in Ahmedabad, the public record doesn't confirm a Goods and Services Tax case covering the entire period mentioned in the claim.

AI-written summary of Sai Infinium Limited's filings. Verify against the source documents.

Bottom line

So, to summarize, we've looked at the structure of the offering, the recent financial performance showing some growth in revenue and profit, the inherent risks in their supply chain, and the various legal points that came up in the filing. Ultimately, that's the picture the filing paints—what you make of it is up to you.

Red flags from earlier look-ups

For this filing we looked up selected claims (promoters, court cases, subsidiaries) on the open web earlier. We no longer check what a filing says; SEBI reviews it.

  • MediumLitigation

    Sai Infinium Limited

    50% confidence
    What the filing says

    One Goods and Services Tax case for Financial Years 2018-19 to 2024-25 is pending before the Commissioner (Appeals), CGST.

    What we found

    The search results indicate that there are ongoing legal proceedings involving Sai Infinium Limited before the NCLT at Ahmedabad, specifically concerning contempt notices. However, the search results do not explicitly confirm a pending Goods and Services Tax case for the entire period mentioned in the claim.

  • MediumLitigation

    Sai Infinium Limited

    50% confidence
    What the filing says

    One Direct Tax case for the period 2018-19 is pending.

    What we found

    The search results indicate that there are ongoing legal proceedings involving Sai Infinium Limited and the NCLT Ahmedabad, specifically concerning contempt notices. Some results mention the direction to issue contempt notices, suggesting active legal issues, but they do not explicitly confirm a 'Direct Tax case' for the 2018-19 period.

Inside the filing

Section-by-section summaries of the Draft Red Herring Prospectus. Turn on Detailed view at the top to expand everything.

What the company does and how it got here

Business & industry

What the company actually does, its customers, competition and the industry it sells into.

pp. 202–358

This section provides an overview of the economic outlook, detailing projections for global GDP growth, the impact of various economic drivers, and the specific impact on the steel industry. It discusses the influence of geopolitical conflicts, trade tensions, and inflationary pressures on global growth, and how these macroeconomic factors affect steel demand. Furthermore, it analyzes the effect of Free Trade Agreements (FTAs) on the Indian steel industry, noting both opportunities for exports and challenges from import competition.

Key points (395, showing 60)

  • Global economic growth is expected to sustain around 3% in the near term, with potential downside risks due to geopolitical tensions. p.202
  • India is projected to sustain the fastest pace of expansion, with real GDP growth of 6.4% in CY26P, significantly outpacing the global average of 3%. p.202
  • Rising investments in technology and artificial intelligence are boosting productivity and supporting new business models across industries. p.203
  • Government spending and accommodative monetary policies are crucial in sustaining global growth by stabilizing economies post-pandemic. p.203
  • Domestic demand resilience, driven by rising middle-class consumption and urbanization, is supporting economic activity. p.203

History & corporate structure

How the company came to be: key milestones, subsidiaries, acquisitions and restructurings.

pp. 359–368

The company's history began with its incorporation as a private limited company in 2004. Over the subsequent years, the company underwent several significant changes, including name changes, conversion to a public limited company, and various amendments to its Memorandum of Association, which reflected increases in authorized share capital and changes to its main objects. The company also experienced mergers and acquisitions, such as the merging of related party bodies, and milestones related to manufacturing capacity and diversification into structural products. The company's name has changed multiple times, culminating in a final name change in 2024.

Key points (20)

  • The company was originally incorporated as a private limited company on August 16, 2004, under the name “Sai Inductomelt Private Limited”. p.359
  • The name of the Company was changed to “Sai Bandhan Infinium Private Limited” on March 31, 2019. p.359
  • The Company was converted from a private limited company to a public limited company on September 13, 2024. p.359
  • The name of the Company was changed to “Sai Infinium Limited” on October 24, 2024. p.359
  • The registered office was shifted from “Plot No. 1497/B, Opp. Theosophical Lodge, Rupani Circle, Bhavnagar - 364201, Gujarat” to “3rd Floor, Plot No 2137, Bansal House, Near Golden Arc Complex, Atabhai Chowk, Bhavnagar - 364002, Gujarat” on October 01, 2020. p.359

The IPO terms and where the money goes

Cover & definitions

Headline offer terms and the glossary the rest of the document relies on.

pp. 6–32

The definitions section outlines various terms used in the Draft Red Herring Prospectus. It specifies that references to certain legal documents should be interpreted as amended or updated. Key entities such as the Issuer, which is Sai Infinium Limited, are defined, along with various corporate and financial terms. It also defines terms related to the offer process, including different types of bids and the roles of various intermediaries.

Key points (37)

  • The Issuer is Sai Infinium Limited. p.6
  • The Registered Office of the company is 3rd Floor, 2137, Bansal House, Near Golden Arc, Atabhai Chowk, Bhavnagar - 364002, Gujarat, India. p.6
  • The Statutory Auditors of the company are M/s ANR & Associates, Chartered Accountants (FRN: 142359W). p.6
  • The Company is incorporated under the Companies Act, 1956. p.6
  • The Corporate Office is located at Unit No. 802, Chandak Unicorn, Off Link Road, Opp. Pizza Express, Andheri West, Mumbai-400053, Maharashtra, India. p.7

The offer

How many shares are being sold, by whom, and on what terms.

pp. 106–114

This section details the structure of the equity offer, outlining various components such as the face value of the shares, the pricing mechanism, and the different categories of investors involved. It specifies limits for Fresh Issue, Offer for Sale, and various portions of the Qualified Institutional Buyer (QIB) and Non-Institutional portions. Furthermore, it describes the allocation rules for different investor categories, including provisions for anchor investors, mutual funds, and retail bidders, along with rules for spill-over allocations.

Key points (15)

  • The face value of the equity shares being offered is ₹2 each. p.106
  • The Fresh Issue is limited to up to [●] Equity Shares of face value of ₹2 each aggregating up to ₹280.00 Crore. p.106
  • The Offer for Sale is limited to up to 1,20,00,000 Equity Shares of face value of ₹2 each aggregating up to ₹[●] million. p.106
  • The QIB Portion includes an Anchor Investor Portion and a Net QIB Portion. p.106
  • A portion of the QIB allocation is available for allocation to Anchor Investors on a discretionary basis, with 40% reserved for domestic Mutual Funds and 6.67% for Life Insurance Companies and Pension Funds. p.107

Capital structure

Who owns what today, past share issues and what the shareholding looks like after the IPO.

pp. 129–154

This section details the authorized and issued equity share capital of the company as of the Draft Red Herring Prospectus date. It outlines the structure of the capital, including the authorized share capital, the issued and paid-up share capital before the offer, and various subsequent issuances and allotments. Furthermore, it provides a detailed history of equity share allotments, including rights issues, bonus issues, and private placements, which show the evolution of the shareholding over time.

Key points (60)

  • The authorized share capital is 40,50,50,000 Equity Shares with a face value of ₹2/- each, aggregating to ₹81,01,00,000. p.129
  • The issued, subscribed and paid-up share capital before the offer was 29,83,27,183 Equity Shares with a face value of ₹2/- each, aggregating to ₹59,66,54,366. p.129
  • A series of allotments occurred on August 16, 2004, involving 10 Equity Shares allotted to 1 Raj Kumar Bansal and 10 Equity Shares allotted to 2 Sarojben Bansal, totaling 10,000 Equity Shares and ₹1,0 in cash consideration. p.130
  • A rights issue on March 28, 2015 resulted in the allotment of 66,40,000 Equity Shares and 10 Equity Shares in cash consideration totaling ₹6,65,00,000. p.130
  • A rights issue on March 28, 2018 involved the allotment of 29,12,622 Equity Shares and 10 Equity Shares in cash consideration totaling ₹9,56,26,220. p.130

Use of proceeds

What the money raised will be spent on: growth, debt repayment or promoters cashing out.

pp. 155–201

The Offer involves a Fresh Issue of equity shares and an Offer for Sale of equity shares by the Promoter Selling Shareholder. The Net Proceeds from the Fresh Issue are proposed to be utilized for funding specific objects, primarily related to expanding manufacturing capacity and general corporate purposes. The utilization plan details the deployment of these net proceeds across fiscal years, with a significant portion earmarked for capital expenditure requirements. The proposed expansion includes the construction of a Proposed Melting Shop, which has a detailed cost breakdown.

Key points (83, showing 60)

  • The Offer comprises a Fresh Issue of up to [●] Equity Shares and an Offer for Sale of up to 1,20,00,000 Equity Shares. p.155
  • One of the proposed objects is funding the capital expenditure requirements for expanding the manufacturing capacity of MS Billets by installing an induction melting system of 50 (1x50) tonnes. p.155
  • Another object is for general corporate purposes. p.155
  • The Net Proceeds from the Fresh Issue are estimated to be ₹[●] million after deducting offer related expenses. p.155
  • The Net Proceeds are proposed to be used for general corporate purposes, with the amount not exceeding 25% of the Gross Proceeds of the Fresh Issue. p.155

The numbers behind the story

Financial information

Revenue, profit, debt, cash flow and the auditors' notes behind them.

pp. 406–545

This section details the examination process for the Restated Financial Information, which includes the Restated Statement of Assets and Liabilities, Profit and Loss, Changes in Equity, and Cash Flows for the financial years ended March 31, 2026, 2025, and 2024. The examination was conducted by an independent auditor to ensure compliance with various legal requirements and accounting standards. The financial information used for the Draft Red Herring Prospectus was compiled from audited standalone and special purpose Ind AS financial statements.

Key points (379, showing 60)

  • The examination covered the Restated Financial Information comprising the Restated Statement of Assets and Liabilities, Profit and Loss, Changes in Equity, and Cash Flows for the financial years ended March 31, 2026, March 31, 2025, and March 31, 2024. p.407
  • The Restated Financial Information was approved by the Board of Directors of the Company at their meeting held on September 12, 2026 for inclusion in the Draft Red Herring Prospectus (DRHP). p.407
  • The Company's Board of Directors is responsible for the preparation of the Restated Financial Information for inclusion in the DRHP. p.408
  • The financial information for the year ended March 31, 2026, were the first financials prepared in accordance with Ind AS up to the financial year ended March 31, 2025. p.409
  • The Special Purpose Ind AS Financial Statements for the years ended March 31, 2025 and March 31, 2024 were prepared in accordance with Ind AS. p.409

What could go wrong, per the company

Risk factors

The risks the company is legally required to disclose, in its own words.

pp. 33–105

Investors should be aware that the company relies heavily on third-party suppliers for raw materials and stock-in-trade, which exposes the business to risks such as supply disruptions, price volatility, and issues with supplier performance. The company has not entered into long-term contracts for raw materials, leaving it vulnerable to market fluctuations, currency changes, and various other factors that could impact procurement costs and manufacturing operations. Furthermore, the company faces risks related to the quality and timely delivery of materials from these suppliers. There is also a concern regarding the potential for adverse effects from related party transactions, which have constituted a significant percentage of the company's revenue in recent fiscal years.

Key points (234, showing 60)

  • The company is dependent on third-party suppliers to meet most of its raw material requirements and for the purchase of stock-in-trade. p.33
  • Loss of any of the company's suppliers, disruption to the timely and adequate supply of raw materials, or volatility in raw material prices may adversely affect the ability to continue manufacturing and impact business, operations, and financial condition. p.33
  • The company sources a majority of its MS Billets from third-party suppliers, in addition to manufacturing some internally from sponge iron and steel scrap. p.33
  • The absence of long-term supply contracts subjects the company to risks from commodity market fluctuations, currency fluctuations, climatic and environmental conditions, production and transportation costs, changes in domestic government policies, and regulatory/trade sanctions. p.34
  • Disruption in the supply chains of domestic vendors or adverse movement in international prices or availability of steel scrap from overseas vendors could indirectly affect procurement costs and manufacturing operations. p.34

Who runs and controls the company

Related-party transactions

Business done between the company and people or firms connected to its owners.

pp. 115–128

This section summarizes related party transactions as per requirements under Ind AS 24 and SEBI ICDR Regulations for the fiscal years ended March 31, 2026, 2025, and 2024. The disclosed transactions include various financial dealings such as loans, salaries, director's remuneration, and purchases/sales with related parties. The data is presented in terms of Indian Rupees in million and as a percentage of revenue from operations.

Key points (69, showing 60)

  • Ishu Bansal had a loan taken and repaid for the fiscal year 2026. p.115
  • A reimbursement of expenses was recorded for Shivnarayan Bansal in the fiscal year 2026. p.115
  • Munish Kumar Bansal received director's remuneration in the fiscal year 2026. p.115
  • Nikhil Gupta had a loan taken and repaid for the fiscal year 2026. p.115
  • Nikhil Gupta received director's remuneration in the fiscal year 2026. p.115

Management & board

Directors and senior management: who they are, their background and pay.

pp. 369–391

The Board of Directors comprises six members: three Independent Directors, one Managing Director, and two Executive Directors, in compliance with corporate governance norms. Shivnarayan Bansal is the Chairman and Managing Director, holding a term until October 23, 2029, and is also a Promoter. Munishkumar A Bansal is an Executive Director responsible for overseeing ship recycling operations. Nikhil Gupta is an Executive Director focused on promotional strategies and liaisoning activities. The Independent Directors include Dineshkumar Ravishankar Dave, Mehul Shashikant Vadodaria, and Astha Digant Mehta, with various terms for their appointments and sitting fees being detailed.

Key points (58)

  • The Board has a minimum of 3 and a maximum of 15 Directors, and currently comprises 6 Directors, including 3 Independent Directors, 1 Managing Director, and 2 Executive Directors. p.369
  • Dineshkumar Ravishankar Dave is a Non-Executive Independent Director and has served as Assistant General Manager of State Bank of India for 40 years. p.370p.371
  • Mehul Shashikant Vadodaria is a Non-Executive Independent Director and has held the designation of Mayor and Councillor of Bhavnagar Municipal Corporation. p.370p.371
  • Astha Digant Mehta is a Non-Executive Independent Director and has approximately 12 years of experience in ship broking activities. p.370p.371
  • No Directors have entered into service contracts with the Company that provide benefits upon termination of employment. p.373

Promoters

The people or entities controlling the company, and what else they own.

pp. 392–405

The company's promoters include Shivnarayan Bansal, Ishu Bansal, and Devansh Infinium Private Limited. Ishu Bansal holds a significant portion of the equity, representing 78.89% as of the filing date, while Devansh Infinium Private Limited holds 13.12%. The promoters are confirmed as the founders, and the promoter group will maintain majority control post-offer. Details regarding the build-up of promoter shareholding and changes in control have been provided in separate sections. The company has extended various guarantees to lenders for the borrowings of the group companies, and there have been transactions involving the transfer of company properties.

Key points (41)

  • Ishu Bansal holds 23,53,54,800 Equity Shares of face value of ₹2 each, representing 78.89% of the issued, subscribed and paid-up Equity Share capital. p.392
  • Shivnarayan Bansal is one of the Promoters and serves as the Chairman and Managing Director of the Company. p.392
  • Shivnarayan Bansal has other ventures including Infinium Sealink IFSC LLP, Axat Impex LLP, and Shivnarayan Bansal HUF. p.392
  • Devansh Infinium Private Limited holds 3,91,46,950 Equity Shares of face value of ₹2 each, representing 13.12% of the issued, subscribed and paid-up Equity Share capital. p.393
  • Devansh Infinium Private Limited is incorporated as a private limited company under the Companies Act, 2013 and was granted a certificate of incorporation by RoC on May 29, 2023. p.393

Sai Infinium Limited IPO: common questions

Short answers drawn from the filings above.

How big is the Sai Infinium Limited IPO?

Sai Infinium Limited's IPO comprises a fresh issue of ₹280 Cr and an offer for sale of 1.2 Cr shares, according to its Draft Red Herring Prospectus. The price band has not been announced yet: draft filings leave it blank and it is set in the Red Herring Prospectus.

What are Sai Infinium Limited's revenue and profit?

Sai Infinium Limited reported revenue from operations of ₹689 Cr in FY26, +30.4% versus FY25. Net profit was ₹82 Cr (FY25: ₹44 Cr). Revenue grew at a compound rate of 21.3% a year from FY24 to FY26. Figures are read from the DRHP, as printed there.

How much do promoters own in Sai Infinium Limited?

Promoters hold 92.0% of Sai Infinium Limited before the IPO.

How will Sai Infinium Limited use the IPO money?

The fresh-issue proceeds are earmarked for: 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 Cr); General corporate purposes (amount not fixed yet). The offer-for-sale portion goes to the selling shareholders, not the company.

What are the red flags in Sai Infinium Limited's DRHP?

Earlier, we looked up 40 claims from the filing on the open web (we no longer do this, since SEBI reviews the filing): 0 raised a high concern, 2 medium and 6 low. The most notable: The search results indicate that there are ongoing legal proceedings involving Sai Infinium Limited before the NCLT at Ahmedabad, specifically concerning… The search results indicate that there are ongoing legal proceedings involving Sai Infinium Limited and the NCLT Ahmedabad, specifically concerning contempt… This is an automated screen, not a verdict; each finding links to its sources.

What does Sai Infinium Limited do?

Here’s a detail you probably missed about Sai Infinium Limited: while there are ongoing legal proceedings before the NCLT in Ahmedabad, the public record doesn't confirm a Goods and Services Tax case covering the entire period mentioned in the claim.

Who manages the Sai Infinium Limited IPO?

Book running lead managers: Fedex Securities Private Limited, Neomile Capital Advisors Private Limited. Registrar to the offer: KFin Technologies Limited. Shares are proposed to list on BSE and NSE.

Where can I read the original Sai Infinium Limited IPO documents?

All 1 filing for Sai Infinium Limited (DRHP) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document.

Source documents

Every page reference on this site links to the original SEBI PDF.

DocumentSource
DRHPDraft Red Herring Prospectus
SAI INFINIUM LIMITED · 1 Oct 2026
PDF
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