Jiwanram Sheoduttrai Industries IPO: GMP, subscription status on day 1, other details to know
₹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 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.
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