The subscription period for the Jeyyam Global Foods IPO started on Monday, September 2, and will end on Wednesday, September 4. The IPO shares of Jeyyam Global Foods are priced in the range of ₹59 to ₹61, with a face value of ₹5. Investors can bid for a minimum of 2000 shares, and multiple shares are available for bidding.
The issue offers 63,80,000 equity shares to Qualified Institutional Buyers (QIB), with an anchor portion comprising up to 38,28,000 equity shares. Non-Institutional Investors (NII) may be offered a maximum of 19,14,000 equity shares, and up to 44,66,000 equity shares may be offered to retail investors.
Jeyem Global Foods Ltd, previously known as Kichoni Online Services Private Ltd, was established in 2008 and specialises in the production and/or processing of Bengali chickpeas, commonly known as "chana," Fried Gram, and Besan Flour. Its customer base includes a wide variety of clients such as distributors, major retail chains, hotels, restaurants, caterers, popular supermarkets, and wholesalers. Jeyem offers the following products: Standard fried gram (split), Standard fried gram (whole), and Jeyem fried gram (split).
The company's red herring prospectus (RHP) indicates that Sameera Agro and Infra Ltd is its listed peer, with a P/E ratio of 9.80.
Jeyyam Global Foods Ltd experienced a 65% surge in sales and a 92% growth in profit after tax (PAT) between the fiscal year ending on March 31, 2024, and March 31, 2023.
Jeyyam Global Foods IPO subscription status is 119.41 times, on day 3.
The retail portion was subscribed 70.43 times, and NII portion was booked 321.82 times. Qualified Institutions Buyers portion is booked 54.62 times.
The company has received bids for 1,07,27,44,000 shares against 89,84,000 shares on offer, according to data on chittorgarh.com
Jeyyam Global Foods IPO subscription status was 1.62 times, on day 1, and the issue was booked 4.37 times on the second bidding day.
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 intends to use the funds for a variety of purposes, including general corporate purposes, capital expenditures, and working capital requirements.
Corpwis Advisors Private Limited is the book running lead manager for the Jeyyam Global Foods IPO, while Kfin Technologies Limited is the issue registrar. The market maker for the Jeyyam Global Foods IPO is Nnm Securities.
Jeyyam Global Foods IPO GMP today or grey market premium is ₹25. This indicates Jeyyam Global Foods share price were trading at a premium of ₹25 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Jeyyam Global Foods share price was indicated at ₹86 apiece, which is 40.98% higher than the IPO price of ₹61.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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