Jiwanram Sheoduttrai Industries IPO details: Jiwanram Sheoduttrai Industries IPO opened for subscription today (Friday, September 8), and will close on Tuesday, September 12. The company has set the IPO’s price band at ₹23 per equity share and the share will be listed on the NSE SME exchange Thursday, September 21.
Jiwanram IPO, which is worth ₹17.07 crore, is completely a fresh issue of 74,22,000 equity share; there is no offer for sale (OFS) component. The face value of the equity shares is ₹10 each and the issue price is 2.30 times of the face value. Jiwanram Sheoduttrai Industries IPO lot is 6,000 shares.
The company plans to utilise ₹2 crore for repayment/prepayment of some borrowings, ₹9.1 crore for working capital, and ₹3.2 crore for other corporate purposes from the issue proceeds. The company’s share capital will rise from ₹17.32 crore before the public offering to ₹24.74 crore post the issue . Promoters and Promoters Group holds a 99.996% share in the company. Promoter group holding will be 70.01% after the IPO.
Jiwanram Sheoduttrai Industries currently has a turnover of ₹42 crore, a profit after tax (PAT) of ₹4 crore, and a PAT margin of 9.5%, growing at a 20% rate.The company reported ₹34.2 crore in revenue for FY21–22 and ₹1.5 crore in net profit.
The issue’s book-running lead manager is Affinity Global Capital Market Private Ltd, while Jiwanram Sheoduttrai Industries IPO registrar is Cameo Corporate Services Ltd.
Jiwanram Sheoduttrai Industries manufactures and exports Industrial Safety Gloves and Garments. The company built a cutting-edge production plant and began exporting to the United States, Spain, Germany, and Belgium.
Jiwanram IPO dates
Jiwanram IPO share allotment will take place on Friday, September 15. Those allotted shares will get them in their Demat accounts on Wednesday, September 20. The refund process for those who did not get shares will begin on Monday, September 18. Jiwanram Sheoduttrai Industries IPO shares will be listed on NSE SME on Thursday, September 21.
Jiwanram Sheoduttrai Industries IPO Subscription Status
Jiwanram IPO subscription status was 5.95 times on day 1. The retail portion was subscribed 10.64 times, while the Non-Institutional Bidders (NIB) portion was subscribed 1.26 times.
Jiwanram Sheoduttrai Industries Ltd IPO has received bids for 4,19,82,000 shares against 70,50,000 shares on offer, according to data available on the bourses.
“The remarkable oversubscription within just two hours reflects the trust and confidence investors have in our vision and the growth potential of our company. We are excited about this journey ahead, and we are committed to utilizing these funds to further strengthen our position in the industrial safety sector and continue delivering high-quality products to our global clientele,” said Alok Prakash, Promoter and Managing Director of the company.
HNI quota consists of up to 3,522,000 shares, and retail consists of 3,528,000 shares , for a total of 7,050,000 shares. The allotted market maker quota is 372,000 shares. The issue less market maker reservation portion i.e. issue of upto 70,50,000 equity shares.
Jiwanram Sheoduttrai Industries IPO GMP today
Jiwanram IPO GMP today or grey market premium is +15 similar to the previous trading session. This indicates Jiwanram Sheoduttrai share price were trading at a premium of ₹15 in the grey market on Friday, according to topsharebrokers.com
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Jiwanram Sheoduttrai share price is ₹38 apiece, which is 65.22% higher than the IPO price of ₹23.
Today IPO GMP trending upward and expects a strong listing. The lowest GMP is ₹6, while the highest GMP is ₹15, according to topsharebrokers.com
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Updated: 08 Sep 2023, 08:46 PM IST