Jiwanram IPO listing: Jiwanram Sheoduttrai Industries share price opens at 30% premium on NSE SME
2 min read 18 Sep 2023, 10:06 AM ISTJiwanram Sheoduttrai Industries IPO listed on NSE SME at a premium of 30% above the issue price of ₹23.
PremiumJiwanram listing date: Shares of Jiwanram Sheoduttrai Industries Ltd listed on NSE SME at a premium on Monday. On NSE SME, Jiwanram share price today was listed at ₹30 per share, 30% higher than the issue price of ₹23.
However, after a strong debut the shares were locked at 5% lower circuit.
Jiwanram Sheoduttrai Industries IPO opened for subscription on Friday, September 8, and closed on Tuesday, September 12. The company set the IPO's price band at ₹23 per equity share. Jiwanram IPO subscription status was 112.96 times on day 3.
Jiwanram Sheoduttrai Industries manufactures and exports Industrial Safety Gloves and Garments. The company built a cutting-edge production plant and began exporting to the United States, Spain, Germany, and Belgium.
Jiwanram IPO details
Jiwanram IPO, which is worth ₹17.07 crore, is completely a fresh issue of 74,22,000 equity share; there is no offer for sale (OFS) component. The face value of the equity shares is ₹10 each and the issue price is 2.30 times of the face value. Jiwanram Sheoduttrai Industries IPO lot is 6,000 shares.
The company plans to utilise ₹2 crore for repayment/prepayment of some borrowings, ₹9.1 crore for working capital, and ₹3.2 crore for other corporate purposes from the issue proceeds. The company's share capital will rise from ₹17.32 crore before the public offering to ₹24.74 crore post the issue . Promoters and Promoters Group holds a 99.996% share in the company. Promoter group holding will be 70.01% after the IPO.
Jiwanram Sheoduttrai Industries currently has a turnover of ₹42 crore, a profit after tax (PAT) of ₹4 crore, and a PAT margin of 9.5%, growing at a 20% rate.The company reported ₹34.2 crore in revenue for FY21–22 and ₹1.5 crore in net profit.
The issue's book-running lead manager is Affinity Global Capital Market Private Ltd, while Jiwanram Sheoduttrai Industries IPO registrar is Cameo Corporate Services Ltd.
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Jiwanram Sheoduttrai Industries IPO GMP today
Jiwanram IPO GMP today or grey market premium is +13 similar to the previous trading session. This indicated Jiwanram Sheoduttrai share price were trading at a premium of ₹13 in the grey market on Monday, according to topsharebrokers.com
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Jiwanram Sheoduttrai share price is ₹36 apiece, which is 56.52% higher than the IPO price of ₹23.
Today IPO GMP trending upward and expected a strong listing. The lowest GMP is ₹6, while the highest GMP is ₹16, according to topsharebrokers.com
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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