Jeyyam Global Foods IPO to open on September 2; price band set at ₹59-61 apiece

The IPO subscription window for Jeyyam Global Foods will commence on Monday, September 2, and will conclude on Wednesday, September 4. The price range for Jeyyam Global Foods IPO shares is between ₹59 to ₹61, with a face value of ₹5. Multiple shares are available, and a minimum of 2000 shares are open for bidding.

The Qualified Institutional Buyers (QIB) will be offered 63,80,000 equity shares, including an anchor portion of up to 38,28,000 equity shares. Non-Institutional Investors (NII) can be offered up to 19,14,000 equity shares, and retail investors can be offered up to 44,66,000 equity shares.

Jeyem Global Foods Ltd (previously Kichoni Online Services Private Ltd), which was founded in 2008, manufactures and/or processes Bengali chickpeas, also referred to as "chana" in the community, Fried Gram, and Besan Flour. It provides these products to a range of customers, including distributors, big-box stores, hotels, restaurants, caterers, branded supermarkets, and wholesalers. The following are the products offered by Jeyyam: Standard fried gram (split), Standard fried gram (whole), and Jeyyam fried gram (split).

As per the red herring prospectus (RHP), the company's listed peer is Sameera Agro and Infra Ltd (with a P/E of 9.80).

Between the fiscal year ending on March 31, 2024, and March 31, 2023, Jeyyam Global Foods Ltd had a 65% rise in sales and a 92% increase in profit after tax (PAT).

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's plans to use the funds to pay for working capital needs, capital expenditures, and general corporate reasons, among other goals.

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

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