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Business News/ Markets / Ipo/  Jiwanram IPO listing: Jiwanram Sheoduttrai Industries share price opens at 30% premium on NSE SME

Jiwanram 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.

Also Read: Jupiter Hospital IPO listing date today. GMP, experts predict 'positive' debut of shares

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

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

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

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Updated: 18 Sep 2023, 10:06 AM IST
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