Jay Kailash Namkeen shares debut with a 16% premium on BSE SME platform
economictimes.indiatimes.comJay Kailash Namkeen listed on the BSE SME platform with a premium of 16.43% over the issue price. The stock debuted at Rs 85, compared with an offer price of Rs 73.
Ahead of the listing, the company's shares traded with a premium of Rs 15 in the unlisted market.
The IPO, which was completely a fresh equity issue of 16.33 lakh shares, received decent response from investors with an overall subscription of 40 times at close.
The net proceeds from the public offer will be used for meeting working capital requirements and general corporate purposes.
Jai Kailash is engaged in the business of manufacturing packaged Indian snacks. Its snack offerings include Chana Jor Namkeen, Masala Chana Jor, Pudina Chana, Masala Moong Jor, Plain Moong Jor, Soya Sticks among others.
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The company was initially engaged in B2B business wherein it manufactured products in bulk quantities for other well recognised companies/brands in the same industry.
It also made products and supplied them in the states of Assam, Bihar, Chhattisgarh, Gujarat, Madhya Pradesh, Maharashtra, Odisha, Rajasthan, Telangana and Uttar Pradesh. However, it has also started B2C offering since April 2022 under its own brand name Kailash.
The Indian food industry is growing at a CAGR of 11% and the output is projected to reach $535 billion by 2025. The food processing sector will be led by the demand in retail and the rise of health-conscious consumers, as
