Jeyyam Global Foods IPO is a book-built issue totaling Rs 81.94 crores. It comprises a fresh issue of 120.89 lakh shares worth Rs 73.74 crores and an offer for sale of 13.43 lakh shares worth Rs 8.19 crores.
The Jeyyam Global Foods IPO opens for subscription on September 2, 2024, and closes on September 4, 2024. The allotment is expected to be finalized on Thursday, September 5, 2024, with the IPO listing on the NSE SME, tentatively scheduled for Monday, September 9, 2024.
The IPO price band is set at ₹59 to ₹61 per share, with a minimum application lot size of 2,000 shares. Retail investors will need to invest at least ₹122,000, while HNIs must invest in a minimum of 2 lots (4,000 shares), amounting to ₹244,000.
Corpwis Advisors Private Limited is the book-running lead manager for the IPO, with Kfin Technologies Limited serving as the registrar. Nnm Securities is the market maker for the Jeyyam Global Foods IPO.
Below are the details of Jeyyam Global Foods IPO Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
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Jeyyam Global Foods IPO Details
| IPO Date | September 2, 2024 to September 4, 2024 |
| Listing Date | [.] |
| Face Value | ₹5 per share |
| Price Band | ₹59 to ₹61 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 13,432,000 shares (aggregating up to ₹81.94 Cr) |
| Fresh Issue | 12,088,800 shares (aggregating up to ₹73.74 Cr) |
| Offer for Sale | 1,343,200 shares of ₹5 (aggregating up to ₹8.19 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 35,407,956 |
| Share holding post issue | 47,496,756 |
| Market Maker portion | 672,000 shares |
Jeyyam Global Foods IPO Timeline
| IPO Open Date | Monday, September 2, 2024 |
| IPO Close Date | Wednesday, September 4, 2024 |
| Basis of Allotment | Thursday, September 5, 2024 |
| Initiation of Refunds | Friday, September 6, 2024 |
| Credit of Shares to Demat | Friday, September 6, 2024 |
| Listing Date | Monday, September 9, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 4, 2024 |
Jeyyam Global Foods IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹122,000 |
| Retail (Max) | 1 | 2000 | ₹122,000 |
| HNI (Min) | 2 | 4,000 | ₹244,000 |
Jeyyam Global Foods IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 37,76,000 (28.11%) |
| Market Maker Shares Offered | 6,72,000 (5%) |
| QIB Shares Offered | 26,04,000 (19.39%) |
| NII (HNI) Shares Offered | 19,14,000 (14.25%) |
| Retail Shares Offered | 44,66,000 (33.25%) |
| Total Shares Offered | 1,34,32,000 (100%) |
Jeyyam Global Foods IPO Promoters Holdings
The Promoters of the Company are Mr. Shripal Veeramchand Sanghvi, Mr. Amit Agarwal, Mrs. Sujathaa Mehta, Shanti Guru Industries Limited, Mrs. Sarika Ssangavi, M/s. Shripal Sanghvi HUF and M/s. Mahipal Sanghvi HUF.
Jeyyam Global Foods IPO Anchor Investor
| Bid Date | August 30, 2024 |
| Shares Offered | 3,776,000 |
| Anchor Portion Size (In Cr.) | 23.03 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 5, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 4, 2024 |
Jeyyam Global Foods IPO Financial Information
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||
| Assets | 19,226.39 | 16,835.02 | 9,941.17 | |||||||||||||||||||||||||||
| Revenue | 62,983.42 | 38,220.62 | 25,388.3 | |||||||||||||||||||||||||||
| Profit After Tax | 1,509.11 | 786.8 | 436.8 | |||||||||||||||||||||||||||
| Net Worth | 8,022.42 | 6,513.6 | 5,726.51 | |||||||||||||||||||||||||||
| Reserves and Surplus | 6,252.02 | 6,452.26 | 5,665.46 | |||||||||||||||||||||||||||
| Total Borrowing | 9,620.5 | 9,226.05 | 3,319.3 | |||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||
Jeyyam Global Foods IPO Review
Jeyyam Global Foods Ltd. (JGFL) was initially incorporated in 2008 as “Kichoni Online Services Private Limited” for data sales but later shifted focus to FMCG trading. After several name changes, it became Jeyyam Global Foods in May 2023. The company specializes in manufacturing and supplying Bengal Gram products and aims to expand into the B2C market with spices, ready-to-eat foods, and more. Jeyyam is known for quality, transparency, and adherence to standards, with ISO and FSSAI certifications.
JGFL is launching an IPO to raise ₹81.94 crores, including a fresh issue of ₹73.74 crores and an offer for sale worth ₹8.19 crores. The IPO is priced between ₹59-₹61 per share, and post-IPO, the company’s market cap will be ₹289.73 crores. Funds raised will be used for working capital, capex, and corporate purposes. Financially, the company has shown significant growth, with revenues increasing from ₹253.88 crores in FY22 to ₹629.83 crores in FY24, but profit margins remain modest. The IPO is seen as fully priced, and suitable for long-term investors.
Jeyyam’s focus on the Chana industry and integrated supply chain positions it for growth, though some caution is advised due to pricing.