Jeyyam Global Foods IPO Day 1: Issue subscribed 67%; check offer size, price band and other key details

Jeyyam Global Foods Limited IPO opened to a lukewarm response from investors on Monday, September 2. The NSE SME public offer was booked 63% after launch.

The initial public offering (IPO) of the chana or Bengal gram manufacturer received bids for more than 57.24 lakh shares against 89.84 lakh shares on offer on the first day of bidding, the NSE data till 12:55 pm showed.

Retail individual investors applied for over 52.68 lakh shares of Jeyyam Global Foods against 44.66 lakh shares set aside for the category. The retail portion of the IPO was booked 1.17 times.

The non-institutional investors (NIIs) applied for 4.56 lakh shares against 19.14 lakh shares reserved for the category, subscribing the quota 23%.

The qualified institutional buyers’ (QIBs) category did not receive any bids. The company has set aside 26.04 lakh shares for QIBs.

If you are looking forward to bidding for the shares of Jeyyam Global Foods, here are a few key details to know before bidding.

Jeyyam Global Foods IPO offer size, price band and minimum investment

Jeyyam Global Foods aims to raise ₹81.94 crore via its public issue. The book-built issue consists of a fresh issuance of 120.89 lakh shares to raise ₹73.74 crore along with an offer-for-sale (OFS) of 13.43 lakh shares, aggregating to ₹8.19 crore.

Jeyyam Global Foods IPO price band has been fixed at ₹59 to ₹61 per share. Retail investors can place bids for a minimum of a single lot size comprising 2,000 shares, which aggregates to an investment of ₹1,22,000. On the other hand, high networth individuals (HNIs) can place bids for a minimum of 2 lots, or 4,000 shares, which aggregates to an investment of ₹2,44,000.

Jeyyam Global Foods IPO allotment status, listing date, allotment status

Jeyyam Global Foods IPO is open for bidding from September 2 to September 4. The IPO share allotment status is likely to be finalised by Thursday, September 5. Subsequent to the allotment of shares, refunds will be initiated for unsuccessful bidders on Friday, September 6 and successful bidders will receive shares in their Demat accounts on the same day. Shares of Jeyyam Global Foods will be listed on the NSE SME platform, Emerge. The tentative listing date for Jeyyam Global Foods shares is September 9.

Jeyyam Global Foods IPO registrar

The registrar for Jeyyam Global Foods IPO is Kfin Technologies Limited. The book running lead manager for the issue is Corpwis Advisors Private Limited and the market maker for the issue is Nnm Securities.

Jeyyam Global Foods: Key financials

In FY24, Jeyyam Global Foods’ revenue increased over 64% to ₹629.83 crore compared to ₹382.2 crore in FY23. The company’s profit-after-tax surged to ₹15.09 crore in FY24, an increase of nearly 92% compared to ₹7.86 crore in FY23. In FY24, Jeyyam Global Foods’ net worth grew over 23% to ₹80.22 crore against ₹65.13 crore in FY23.

Jeyyam Global Foods: Promoters

The promoters of Jeyyam Global Foods include Shripal Veeramchand Sanghvi, Amit Agarwal, Sujathaa Mehta, Shanti Guru Industries Limited, Sarika Ssangavi, M/s Shripal Sanghvi Hindu Undivided Family (HUF) and M/s. Mahipal Sanghvi HUF. The promoters of the company jointly held 92% stake in the company before the issue.

Jeyyam Global Foods IPO: Objective

Jeyyam Global Foods plans to use the funds raised via the public issue for funding working capital requirements, capital expenditures and for other general corporate purposes.

About Jeyyam Global Foods Limited

Jeyyam Global Foods was established in 2008. The company produces and processes chana or Bengal gram, fried gram and Besan. It supplies the chana products to distributors, large retailers, hotels, restaurants, caterers, branded supermarkets and wholesalers. The company had 155 employees as of March 31, 2024.