Jiwanram Sheoduttrai Ind Hit D-Street At 30% Premium Over IPO Issue Price

On Monday, the shares of Jiwanram Sheoduttrai Industries Ltd were listed on NSE SME at Rs 30 per share, which is 30% more than the IPO issue price of Rs 23. The subscription period for Jiwanram Sheoduttrai Industries' IPO began on Friday, September 8, and ended on Tuesday, September 12.

Jiwanram's Rs 17.07 crore initial public offering (IPO) consists only of new issuance of 74,22,000 equity shares; there is no offer for sale (OFS) portion. The equity shares have a face value of Rs. 10 per share. 6,000 shares make up the Jiwanram Sheoduttrai Industries IPO lot.

On its last bidding, the JSIL IPO received 108.38 subscriptions. The company has received 89,063 applications in total. The Non-Institutional Bidders (NIB) segment garnered 65.23 subscriptions, while the retail component received 151.47 subscriptions. Jiwanram Sheoduttrai Industries Ltd.'s initial public offering (IPO) of 70,50,000 shares received 76,41,12,000 bids. Bids for the retail investors' portion were 53,43,78,000 shares versus the 35,28,000 shares offered, while bids for the NIB portion were 22,97,34,000 shares vs. the 35,22,000 shares on sale for this segment.

From the IPO issue proceeds, the company will allocate Rs 2 crore for debt repayment or prepayment, Rs 9.1 crore for working capital, and Rs 3.2 crore for general corporate objectives. The company's share capital was Rs 17.32 crore before the IPO; after it, it would be Rs 24.74 crore. 99.996% of the company's equity is held by The Promoters & Promoters Group. Following the IPO, the promoter group's shareholding will be 70.01 percent.

Affinity Global Capital Market Private Ltd. is the issue's book-running lead manager, while Cameo Corporate Services Ltd. is the issue's IPO registrar on behalf of Jiwanram Sheoduttrai Industries. Industrial safety gloves and garments are produced and exported by Jiwanram Sheoduttrai Industries. The company has a large presence in both the domestic and international personal protective equipment (PPE) markets. For working capital needs, the repayment of some unsecured debts the firm took out, general corporate purposes, and to cover offer expenses, the company plans to raise Rs. 17.07 crore.