BackSJS Enterprises files DRHP to raise ₹800 cr via IPO
The IPO consists of a pure offer for sale of ₹688 crore by Evergraph Holdings and ₹112 crore by KA Joseph. Currently, Evergraph Holdings and KA Joseph hold 77.86% and 20.74% stake in the company, respectively
PremiumSJS Enterprises Ltd has filed a draft red herring prospectus with the Securities Exchange Board of India to raise ₹800 crore via initial public offering.
The IPO consists of a pure offer for sale of ₹688 crore by Evergraph Holdings Pte Ltd and ₹112 crore by KA Joseph. Currently, Evergraph Holdings and KA Joseph hold 77.86% and 20.74% stake in the company, respectively.
Axis Capital, Edelweiss Financial Services and IIFL Securities are book lead managers to the issue.
SJS Enterprises is one of the leading players in the Indian decorative aesthetics industry, offering the widest range of aesthetics products in India. It is a “design-to-delivery" aesthetics solutions provider with the ability to design, develop and manufacture a diverse product portfolio for a wide range of customers primarily in the automotive and consumer appliance industries.
It has supplied over 115 million parts with more than 6,000 SKUs in fiscal 2021 to around 170 customers in approximately 90 cities across 20 countries.
In addition to manufacturing aesthetics products, which cater to the requirements for two-wheelers, passenger vehicles, and consumer appliance industries, it also manufactures a wide range of aesthetics products that cater to the requirements of commercial vehicles, medical devices, farm equipment, and sanitary ware industries.
Its product offerings include decals and body graphics, 2D appliques and dials, 3D appliques and dials, 3D lux badges, domes, overlays, aluminium badges, “in-mould" label or decoration parts (“IML/IMD(s)"), lens mask assembly and chrome-plated, printed and painted injection moulded plastic parts. It also offers a variety of accessories for the two-wheelers’ and passenger vehicles’ aftermarket under the “Transform" brand.
It has manufacturing facilities located in Bengaluru and Pune spread across an area of approximately 235,000 and 68,350 square feet, respectively. As of March 2021, the annual production capacity of the firm and its arm's manufacturing facility was 208.61 million and 29.50 million products, respectively.
Its relationship with its 10 largest customers in terms of revenue, averaged approximately 15 years.
For the fiscal year 2021, its revenue from operation was at ₹251.62 crore against ₹216.17 crore last year. Net profit for the year stood at ₹47.77 crore versus ₹41.29 crore a year ago.
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