Jeyyam Global Foods IPO subscribed 119.41 times on Day 3 on robust NIIs, retail demand. Check GMP, issue details.

  • The Jeyyam Global Foods IPO began on September 2 and ends on September 4, with shares priced between 59-61. The IPO includes 12,088,800 new shares and 13,43,200 shares for sale, aiming to raise 81.94 crore for corporate, capital, and working capital needs.

Dhanya Nagasundaram
Updated4 Sep 2024, 01:52 PM IST
Jeyyam Global Foods IPO is valued at  <span class='webrupee'>₹</span>81.94 crore, offering shares at  <span class='webrupee'>₹</span>59-61 each from September 2-4.
Jeyyam Global Foods IPO is valued at ₹81.94 crore, offering shares at ₹59-61 each from September 2-4. (www.jeyyamfoods.com/)

The subscription period for the Jeyyam Global Foods IPO started on Monday, September 2, and will end on Wednesday, September 4. The IPO shares of Jeyyam Global Foods are priced in the range of 59 to 61, with a face value of 5. Investors can bid for a minimum of 2000 shares, and multiple shares are available for bidding.

The issue offers 63,80,000 equity shares to Qualified Institutional Buyers (QIB), with an anchor portion comprising up to 38,28,000 equity shares. Non-Institutional Investors (NII) may be offered a maximum of 19,14,000 equity shares, and up to 44,66,000 equity shares may be offered to retail investors.

Jeyem Global Foods Ltd, previously known as Kichoni Online Services Private Ltd, was established in 2008 and specialises in the production and/or processing of Bengali chickpeas, commonly known as "chana," Fried Gram, and Besan Flour. Its customer base includes a wide variety of clients such as distributors, major retail chains, hotels, restaurants, caterers, popular supermarkets, and wholesalers. Jeyem offers the following products: Standard fried gram (split), Standard fried gram (whole), and Jeyem fried gram (split).

Also Read | Jeyyam Global Foods IPO to open on Sep 2; price band set at ₹59-61 apiece

The company's red herring prospectus (RHP) indicates that Sameera Agro and Infra Ltd is its listed peer, with a P/E ratio of 9.80.

Jeyyam Global Foods Ltd experienced a 65% surge in sales and a 92% growth in profit after tax (PAT) between the fiscal year ending on March 31, 2024, and March 31, 2023.

Jeyyam Global Foods IPO subscription status

Jeyyam Global Foods IPO subscription status is 119.41 times, on day 3.

The retail portion was subscribed 70.43 times, and NII portion was booked 321.82 times. Qualified Institutions Buyers portion is booked 54.62 times.

The company has received bids for 1,07,27,44,000 shares against 89,84,000 shares on offer, according to data on chittorgarh.com

Jeyyam Global Foods IPO subscription status was 1.62 times, on day 1, and the issue was booked 4.37 times on the second bidding day.

Also Read | Gala Precision Engineering IPO Day 1: GMP, review, other details. Apply or not?

Jeyyam Global Foods IPO details

The Jeyyam Global Foods IPO, valued 81.94 crore, includes a fresh issuance of 12,088,800 equity shares with a face value of 5, and 13,43,200 equity shares offer for sale.

The company intends to use the funds for a variety of purposes, including general corporate purposes, capital expenditures, and working capital requirements.

Corpwis Advisors Private Limited is the book running lead manager for the Jeyyam Global Foods IPO, while Kfin Technologies Limited is the issue registrar. The market maker for the Jeyyam Global Foods IPO is Nnm Securities.

Jeyyam Global Foods IPO GMP today

Jeyyam Global Foods IPO GMP today or grey market premium is 25. This indicates Jeyyam Global Foods share price were trading at a premium of 25 in the grey market, according to investorgain.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Jeyyam Global Foods share price was indicated at 86 apiece, which is 40.98% higher than the IPO price of 61.

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

 

Also Read | Upcoming IPO: Solar 91 files DRHP at BSE to launch SME IPO worth ₹100 crore

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

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First Published:4 Sep 2024, 01:52 PM IST
Business NewsMarketsIPOJeyyam Global Foods IPO subscribed 119.41 times on Day 3 on robust NIIs, retail demand. Check GMP, issue details.

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