SME IPO: Jiwanram Sheoduttrai issue to open on September 8. 10 things to know about the offer
1) Company overview
Jiwanram Sheoduttrai Industries initially started manufacturing industrial safety gloves and gradually expanded its presence in the industrial garment sector. Its business is classified under three product verticals — manufacturing and export of industrial leather gloves, industrial garments and work and casual wear.
2) Industry overview
The global personal protective equipment market (PPE Market) was $68.5 billion in 2022 and is projected to reach $64.2 billion by 2027, at a CAGR of -1.3% from 2022 to 2027.
3) Issue size
The IPO is entirely a fresh issue of up to 74.2 lakh equity shares aggregating to Rs 17.07 crore.
4) Price band
The company will offer its shares at a price band of Rs 23 apiece, and investors can bid for 6,000 shares in 1 lot.
5) Financial performance
For the period ended March 2023, the company has recorded revenues of Rs 42.23 crore and net profit of Rs 4.02 crore.
6) Objects of the offer
The net proceeds from the public offer will be used to fund working capital requirements, repayment of debt, and other general corporate purposes.
7) Lead managers and Registrar
Affinity Global Capital is acting as the lead manager to the issue, while Cameo Corporate Services is the registrar.
8) Issue structure
About 50% of the offer is reserved for retail investors, and the rest for other investors.
9) Important dates
The IPO opens on September 8 and closes on September 12.
The final allotment will likely be made on September 15. The company's shares will likely get listed on September 21.
10) Listing of shares
The company's shares will get listed on the NSE SME platform.
