Jiwanram Sheoduttrai Industries IPO Listing Date Today: What GMP Hints?

The listing of the initial public offering (IPO) of Jiwanram Sheoduttrai Industries Ltd. will be seen on Monday, 18th September 2023. Jiwanram Sheoduttrai Industries Ltd. shares will be listed on the NSE Emerge SME Platform, according to information on the NSE website and circular no. 1233/2023.

The equity shares of Jiwanram Sheoduttrai Industries Limited (Symbol: JIWANRAM) shall be available for trading in Series 'ST' (Trade for Trade Surveillance Segment (TFTS) - Settlement Type 'W') and subsequently be shifted to Series 'SM' (Normal Rolling Segment - Settlement Type ''N") as per SEBI circular no. CIR/MRD/DP/01/2012 & CIR/MRD/DP/02/2012 dated January 20, 2012.

The Jiwanram security will be part of pre-open session for IPO and Other category of scrips as per SEBI circular no.CIR/MRD/DP/01/2012 & CIR/MRD/DP/02/2012 dated January 20, 2012.

The above security will be part of pre-open session for IPO and other category of scrips and it will be available for trading in continuous market as per Exchange Circular No. NSE/CMTR/37202 dated March 14, 2018. This shall be effective from September 18, 2023.
The initial public offering (IPO) of Kolkata-based Jiwanram Sheoduttrai Industries Ltd. received an enormous response from retail investors and was followed by Non-Institutional Bidders (NIB) on its last day of bidding. The SME IPO began on September 8 and ran for three days. The JSIL IPO received 108.38 subscriptions.

A total of 89,063 applications have been submitted to the firm. The retail component received 151.47 subscriptions, while the Non-Institutional Bidders (NIB) portion received 65.23 subscriptions. With 70,50,000 shares on sale, Jiwanram Sheoduttrai Industries Ltd.'s IPO has received bids for 76,41,12,000 shares. In contrast to the 35,28,000 shares that were offered, bids for the retail investors' portion totalled 53,43,78,000 shares, while bids for the NIB component were 22,97,34,000 shares against 35,22,000 on offer for this segment.

Alok Prakash, Promoter and Managing Director, Jiwanram Sheoduttrai Industries Ltd. said, "We're thrilled by the overwhelming response to our IPO, with retail and Non-Institutional Bidders showing exceptional confidence. Jiwanram Sheoduttrai Industries Ltd.'s journey is off to an impressive start, reflecting trust in our vision and dedication to the safety sector. We look forward to a promising future."

The initial public offering consists of a fresh issuance of 74,22,000 shares at a fixed price of Rs. 23/- per equity share, totaling up to Rs. 17.07 crore, and no offer for sale (OFS). The equity shares have a face value of Rs 10 per share and an issue price that is 2.30 times that face value. The minimum number of equity shares that the company will issue is 6,000, and further equity shares will be offered in multiples of 6,000, for a total of Rs 1.38 lakh per application.

The company would use Rs 2 crore for repayment or prepayment of some borrowings, Rs 9.1 crore for working capital, and Rs 3.2 crore for general corporate purposes from the issue proceeds. Before the public offering, the company's share capital was Rs 17.32 crore; after the issue, it would be Rs 24.74 crore. The Promoters & Promoters Group owns 99.996% of the company's equity. The promoter group stake after the IPO will be 70.01 percent.

The promoters of the company are Mr. Alok Prakash - MD, Mrs. Anupama Prakash - CFO, Mr. Gyan Prakash and Alok Prakash (HUF). The company's current turnover is INR 42 crore, with a PAT of INR 4 crore and a 9.5% PAT Margin. This figure is growing at a 20% rate.The firm reported Rs 34.2 crore in sales for FY21-22 and Rs 1.5 crore in net profit.

Affinity Global Capital Market Private Limited (AGCMPL), a Category I Merchant Banker registered with SEBI, is managing Jiwanram's issue.The NSE EMERGE Platform will serve as the listing platform of the company's shares. Cameo Corporate Services Limited serves as the offer's registrar, while Giriraj Stock Broking Pvt. Ltd. acts as the issue's market maker.

As of September 17th, 2023, 11:30 PM, Jiwanram Sheoduttrai Industries SME IPO latest GMP was Rs 13. Jiwanram Sheoduttrai Industries SME IPO's anticipated listing price is Rs 36 (cap price plus today's GMP), considering an upper price band of Rs 23.00. As a result, according to the grey market, market observers anticipate that Jiwanram Sheoduttrai will list on the NSE SME platform today at a premium of 56.52% over the issue price.