Active Stocks
Fri Apr 12 2024 15:57:45
  1. Tata Steel share price
  2. 163.50 -1.00%
  1. NTPC share price
  2. 362.00 -0.32%
  1. ITC share price
  2. 430.10 -1.56%
  1. HDFC Bank share price
  2. 1,518.90 -1.10%
  1. State Bank Of India share price
  2. 766.75 -1.57%
Business News/ Markets / Ipo/  Jay Kailash Namkeen IPO: Issue subscribed over 38.03 times on day 4, check GMP and other key details
BackBack

Jay Kailash Namkeen IPO: Issue subscribed over 38.03 times on day 4, check GMP and other key details

The Jay Kailash Namkeen IPO was subscribed over 38.03 times on the fourth day of subscription. The SME IPO received 6,21,26,400 share applications against the offered 1,34,99,200 shares on April 3.

Jay Kailash Namkeen IPO: Founded in 2021, Jay Kailash Namkeen Limited specialises in producing packaged Indian snacks. (PTI)Premium
Jay Kailash Namkeen IPO: Founded in 2021, Jay Kailash Namkeen Limited specialises in producing packaged Indian snacks. (PTI)

Gujarat-based Jay Kailash Namkeen's initial public offering (IPO) opened for subscription on March 28. The small and medium enterprise (SME) IPO was subscribed more than 8.26 times on the third day of bidding.

Founded in 2021, Jay Kailash Namkeen Limited specialises in producing packaged Indian snacks. Its diverse product range comprises Chana Jor Namkeen, Masala Chana Jor, Pudina Chana, Masala Mung Jor, Plain Mung Jor, Soya Sticks, Haldi Chanas, Chana dal, Sev Murmura & Garlic Sev Murmura, Bhavnagari Gathiya, Chana Dal, Sing Bhujia, Popcorn, Roasted Peanuts, and more.

Also read: Vijay Kedia backed TAC Infosec IPO continues to see strong demand from retail, NIIs on day 2; check GMP, other details

The Jay Kailash Namkeen IPO is entirely a fresh issue of 16.34 lakh shares, with 464,000 shares (28.40 per cent) allocated to Qualified Institutional Buyers (QIB), 310,400 shares (19.00 per cent) allocated to Non-Institutional Investors (NII), and 776,000 shares (47.50 per cent) allocated to Retail Individual Investors (RII).

Jay Kailash Namkeen IPO subscription status

The Jay Kailash Namkeen IPO was subscribed over 38.03 times on the fourth day of subscription. The SME IPO received 6,21,26,400 share applications against the offered 1,34,99,200 shares on April 3.

The retail category was subscribed 50.99 times, receiving 3,95,68,000 shares against the offered 7,76,000 shares. Meanwhile, QIB and NII were subscribed 2.32 times and 54.57 times, respectively.

Also read: Creative Graphics Solutions IPO: Check GMP, subscription status on day 1, other key details to know

QIB section received 10,78,400 applications against the allocated 4,64,000 shares, whereas, NII received 2,14,80,000 shares against the allocated 3,93,600 share applications, on the fourth day of bidding.

Jay Kailash Namkeen IPO details

The Jay Kailash Namkeen IPO is a book-built offering valued at 11.93 crore. This issuance solely comprises 16.34 lakh newly issued shares. 

The price band for the Jay Kailash Namkeen IPO has been fixed at 70 to 73 per share. Allocation for the IPO is anticipated to be confirmed by Thursday, April 4, 2024. Jay Kailash Namkeen IPO is scheduled to be listed on BSE SME, with a tentative listing date set for Monday, April 8, 2024.

Investors have the option to bid for a minimum of 1,600 shares, with the opportunity to increase their bid in multiples of this amount. Retail investors are required to invest a minimum of 116,800.

Also read: SRM Contractors IPO last bidding day today: Should you subscribe or not? Check GMP, subscription status, other details

Expert Global Consultants Private Limited serves as the book-running lead manager for the Jay Kailash Namkeen IPO, with Skyline Financial Services Private Ltd acting as the issue's registrar. Rikhav Securities is designated as the market maker for the Jay Kailash Namkeen IPO.

Jay Kailash Namkeen IPO GMP today

The shares of Jay Kailash Namkeen are available at a premium of 15 in the grey market, as per investorgain.com.

According to analysts at investorgain, the lowest grey market premium (GMP) of Jay Kailash Namkeen IPO is 0, while the highest GMP is 38. This means that the Jay Kailash Namkeen SME IPO's estimated listing price is 88, which is 20.55 per cent more than the IPO price of 73.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 28 Mar 2024, 08:40 PM IST
Next Story footLogo
Recommended For You
GENIE RECOMMENDS

Get the best recommendations on Stocks, Mutual Funds and more based on your Risk profile!

Let’s get started
Switch to the Mint app for fast and personalized news - Get App