The subscription period for Jay Bee Laminations' initial public offering (IPO) begins on Tuesday, August 27, and will runs through Thursday, August 29. The price band for the Jay Bee Laminations IPO is ₹138–146 per share, with a face value of ₹10. There is a minimum of 1000 shares available for bidding, and multiples of those are also offered. The floor price and the cap price are 13.8 times and 14.6 times the face value of the equity shares respectively.
For the power industry, Jay Bee Laminations currently manufactures and supplies a range of products, such as electrical laminations, slit coils, and assembled cores consisting of cold-rolled silicon steel that is grain-oriented and cold-rolled non-grain-oriented steel that is used in transformers, UPSs, and inverters.
The company's production facilities, which span a total of 10,878 square meters, are outfitted with all the internal tools needed for slitting, cutting, assembling, and testing CRGO and CRNGO electrical steel cores. The corporation also includes an internal tool section for sharpening blades and a laboratory for analysing samples of completed items and raw materials.
In order to satisfy the quality requirements of power and distribution transformers, their production facilities place a strong emphasis on the processing and manufacture of electrical steel cores. With the capacity to manufacture transformers up to 220 kV class, their existing facilities are well-equipped to service customers. As of March 31, 2024, they had also utilised 83% of their installed capacity.
The company's only listed peer is Vilas Transcore Ltd (with a P/E of 36.19).
The profit after tax (PAT) of Jay Bee Laminations climbed by 42% and revenue by 23% during the fiscal year that ended on March 31, 2023, and March 31, 2024.
The IPO, worth ₹88.96 crore, is a combination of fresh issue of shares worth ₹88.96 crore, and an offer-for-sale of 1,523,000 shares by the promoter.
The net proceeds from the new issuance will be used by the firm to pay for general corporate expenses as well as to meet its working capital needs.
The registrar for the Jay Bee Laminations IPO is Bigshare Services Pvt Ltd, and the book running lead manager is Swaraj Shares and Securities Private Limited. Shreni Shares is the market maker for the IPO of Jay Bee Laminations.
Jay Bee Laminations IPO GMP is +45. This indicates Jay Bee Laminations share price were trading at a premium of ₹45 in the grey market, according to investorgain.com.
The expected listing price of Jay Bee Laminations shares was determined to be ₹191 per share, which is 30.82% more than the IPO price of ₹146, taking into account the top end of the IPO pricing band and the present premium on the grey market.
'Grey market premium' indicates investors' readiness to pay more than the issue price.'
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