Jeyyam Global Foods IPO Day 3: Issue subscribed 48 times so far; check allotment date and other key details

The SME IPO of Jeyyam Global Foods has received a robust response from investors. The initial public offering was subscribed 48 times so far on Wednesday, September 4, the final day of bidding.

The initial share sale, which went live on September 2, will close on September 4 at 5 pm. The price band has been fixed at ₹59 to ₹61 per share.

Jeyyam Global Foods: Category-wise subscription status

The ₹81.94 crore IPO is a fresh issue of shares worth ₹74 crore and an offer-for-sale (OFS) of ₹8 crore.

The company will use ₹19 crore from the fresh issue for capital expenditure, ₹35 crore for working capital needs and the remaining funds for general corporate purposes.

Jeyyam Global Foods: Timeline

• Bidding period: September 2 to September 4
• Allotment finalisation: September 5
• Refund initiation: September 6
• Demat transfer: September 6
• Listing: September 9

About Jeyyam Global Foods

Jeyyam Global Foods manufactures and supplies key food products such as Bengal gram, fried gram and besan flour. The company plans to expand its business-to-customer (B2C) market with new offerings such as spices, ready-to-cook and ready-to-eat foods, sugar, salt, soya and vermicelli.

The company reported revenue of ₹250 crore in the financial year (FY) 2021-22, ₹320 crore in March 2023, and ₹630 crore in March 2024. For FY25, the Chennai-based firm expects to register a top line of ₹750-₹780 crore.