Jeyyam Global Foods IPO to open on September 2: Issue size, price band and other details

Jeyyam Global Foods IPO (initial public offering) will open for subscription on September 2. The public offer, which will conclude on September 4, has set a price band of ₹59 to ₹61 per equity share.

The IPO is a fresh issue of 1.20 crore equity shares and an offer for sale (OFS) component of 13.43 lakh shares. At the lower end of the price band, the company will raise ₹79.25 crore, and at the upper price band, it will raise ₹81.94 crore.

The Chennai-headquartered company will use the fresh issue proceeds to expand into the business-to-consumer segment, widen its product portfolio, make capital expenditures, and general corporate purposes.

Shrreyans Mehta, an official from Jeyyam Global Foods, said, "We have identified 99 clusters across India to procure the fried gram and polished channa, and we will be doing the cleaning and grading at the place of procurement. We will also be launching soya chunks and vermicelli."

From the fresh issue, Mehta said the company would set up three manufacturing plants, one each in Nanded and Latur in Maharashtra and the third unit in Indore, Madhya Pradesh.

"We will be scaling up the production of fried gram from 55,000 tonne capacity a year by 30%, capacities of cleaning and grading of Bengal grams (Channa), fried grams to 2.15 lakh tonne (a year) Besan Flour to 40,000 tonne a year, from the current 10,000 tonne." he said.

The bidding for anchor investors will take place on August 30.

About Jeyyam Global Foods

Jeyyam Global Foods Ltd manufactures, processes, and supplies pulses, especially Bengal gram (channa) and fried gram.

The company had reported revenues of ₹250 crore as of March 2022, ₹320 crore in March 2023 and ₹630 crore in March 2024. For the current financial year, the company expects to register a top line of ₹750-₹780 crore.