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.
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.
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.
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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.
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.
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