Jay Bee Laminations makes strong debut, shares list at 90% premium to IPO price

Jay Bee Laminations Ltd made a strong debut on the NSE SME platform on Tuesday, September 3, as its shares were listed at a premium of over 90% against the issue price of ₹146 apiece.

Jay Bee Laminations stock opened at ₹277.4 apiece, with an upside of 90% against the issue price of ₹146. After listing, the stock rose 5% and was locked at the upper circuit limit of ₹291.25 per share.

Soon after the stock began to trade, 9.01 lakh shares of the company changed hands on the NSE. The company's total market capitalisation stood at ₹657.28 crore.

The minimum lot size to apply for Jay Bee Laminations IPO was 1,000 shares for retail investors. After listing, successful bidders of Jay Bee Laminations IPO would have earned a profit of at least ₹1,31,400 (₹131.4 x 1,000).

Jay Bee Laminations Ltd IPO details

The subscription window for Jay Bee Laminations IPO was open from Tuesday, August 27 to Thursday, August 29. Jay Bee Laminations share allotment status was finalised on Friday, August 30.

The NSE SME issue saw strong subscription in its three-day bidding period as the initial public offer was booked 118.54 times. The IPO was booked 231.18 times in the Non-institutional investors (NIIs) category. In the retail category the NSE SME issue was booked 96.48 times. The Qualified institutional Buyers’ (QIBs) portion was booked 72.35 times.

Jay Bee Laminations aimed to raise ₹88.96 crore from its public issue. The book-built issue consisted of a fresh issuance of 45.7 lakh shares worth ₹66.72 crore along with an offer-for-sale (OFS) of 15.23 lakh shares, aggregating to ₹22.24 crore. Jay Bee Laminations IPO price band was fixed at ₹138 to ₹146 per share.

Jay Bee Laminations plans to use the money raised via the public issue for funding its working capital requirements, and for general corporate purposes.

Jay Bee Laminations Limited, established in 1988, is a manufacturer and supplier of products such as electrical laminations, slotted coils and assembled cores in cold rolled grain oriented silicon steel and cold rolled non-grain oriented steel for end use in the power industry.