Jiwanram IPO listing: Jiwanram Sheoduttrai Industries share price opens at 30% premium on NSE SME
₹30 per share, 30% higher than the issue price of ₹23. However, after a strong debut the shares were locked at 5% lower circuit. Jiwanram Sheoduttrai Industries IPO opened for subscription on Friday, September 8, and closed on Tuesday, September 12.
The company set the IPO's price band at ₹23 per equity share. Jiwanram IPO subscription status was 112.96 times on day 3. 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, 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.
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