Kolkata’s Jiwanram Sheoduttrai Industries is all set to make its mark in the stock market as it launches its Initial Public Offering (IPO) on September 8. The company aims to raise an impressive Rs 17.07 crore with shares priced at just Rs 23 each. This Jiwanram Sheoduttrai IPO offers a unique opportunity for investors to join hands with a renowned industrial safety gloves and garments manufacturer.
The Fixed-Price Issue
This Jiwanram Sheoduttrai IPO is a fixed-price issue, making it convenient for potential investors to gauge their investments. The offering consists of 74.22 lakh equity shares, all of which are fresh issues by Jiwanram Sheoduttrai Industries. Out of this, 3.72 lakh shares are earmarked for market makers, leaving 70.5 lakh shares as the net issue.
The net issue shares will be distributed equally between two investor categories: retail investors and high-net-worth individuals. This means that each group will have access to 35.25 lakh shares, creating a balanced opportunity for both types of investors.
For those looking to participate, the lot size has been fixed at 6,000 equity shares, and you can invest in multiples of 6,000 shares thereafter. Retail investors are limited to bidding for 6,000 shares, which is worth Rs 1.38 lakh, as exceeding this limit is not permitted within the Rs 2 lakh investment cap. In contrast, high-net-worth individuals can make a minimum investment of Rs 2.76 lakh, entitling them to 12,000 shares.
A Glimpse into Jiwanram Sheoduttrai Industries
Established in 1997, Jiwanram Sheoduttrai Industries is renowned for its manufacturing and export of industrial safety gloves and garments. Its state-of-the-art manufacturing facilities are strategically located at Nandankanan and Falta SEZ in West Bengal.
In the fiscal year ending March FY23, exports contributed significantly, accounting for over 59 percent of the company’s total revenue of Rs 40.69 crore. The remaining revenue was generated from the domestic business.
Utilizing Fresh Issue Proceeds
The funds raised from this fresh issue will be allocated primarily towards the company’s working capital requirements, amounting to Rs 9.11 crore. Additionally, Rs 2 crore will be used to repay existing debts. The remaining funds will serve general corporate purposes, including offering expenses totaling Rs 2.76 crore.
Investors should mark their calendars for key dates in this IPO journey. The public issue will close on September 12, and the basis of allotment of IPO shares will be finalized with the consultation of NSE by September 15. Successful investors can expect the equity shares to be transferred to their demat accounts by September 20, while refunds for unsuccessful investors will be credited to their bank accounts by September 18.
Exciting times are ahead for Jiwanram Sheoduttrai Industries as its equity shares will start trading on the NSE Emerge platform, commencing from September 21. This marks a significant milestone in the company’s journey and an opportunity for investors to participate in its growth story.
About Jiwanram Sheoduttrai:
Jiwanram Sheoduttrai Industries Private Limited specializes in manufacturing a wide range of fabricated products and services. Our product portfolio includes hydraulic power packs, cylinders, rubber rollers, heat treatment furnaces, solvent recovery systems, and machining components. Additionally, we offer comprehensive services such as site selection, energy recovery solutions, and waste management services. With a commitment to quality and innovation, Jiwanram Sheoduttrai Industries caters to customers worldwide.
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