Day 2 of Jeyyam Global Foods' IPO saw 3.91 subscriptions due to strong retail demand.
The shares of Jeyyam Global Foods are priced between ₹59 and 61, and the IPO started on September 2 and finishes on September 4. In order to raise ₹81.94 crore for corporate, capital, and working capital needs, the IPO would sell 13,43,200 shares and issue 12,088,800 new shares.
Monday, September 2, marked the beginning of the Jeyyam Global Foods IPO subscription period, which runs through Wednesday, September 4. With a face value of ₹5, the IPO shares of Jeyyam Global Foods are priced between ₹59 and ₹61. A minimum of 2000 shares are up for grabs, and numerous shares are up for grabs.
Qualified Institutional Buyers (QIB) may purchase up to 38,28,000 equity shares as part of the issuance, which provides 63,80,000 equity shares. A maximum of 19,14,000 equity shares may be issued to non-institutional investors (NII), while retail investors may be offered up to 44,66,000 equity shares.
Establishing itself in 2008, Jeyem Global Foods Ltd (formerly Kichoni Online Services Private Ltd) specialised in the production and/or processing of Bengali chickpeas, popularly known as “chana,” Besan Flour, and Fried Gram. A diverse range of clients, including distributors, well-known retail chains, hotels, restaurants, caterers, prominent supermarkets, and wholesalers, make up its clientele. Standard fried gram (split), Standard fried gram (whole), and Jeyem fried gram (split) are the items that Jeyem sells.
According to Sameera Agro and Infra Ltd’s red herring prospectus (RHP), the company’s listed peer has a P/E ratio of 9.80.
Sales at Jeyyam Global Foods Ltd. increased by 65%, while profit after tax (PAT) increased by 92% during the fiscal year that ended on March 31, 2024, and March 31, 2023.
Status of Jeyyam Global Foods’ IPO subscription
As of day two, Jeyyam Global Foods’ IPO subscription status stands at 3.91 times.
There were 6.51 subscriptions for the retail segment and 2.32 bookings for the NII portion. The buyer part for qualified institutions is 63% booked.
According to information on chittorgarh.com, at 16:32 IST, the company received bids for 3,51,44,000 shares against the 89,84,000 shares that were on offer.
On the first day of the IPO, Jeyyam Global Foods’ subscription status was 1.62 times.
Details about Jeyyam Global Foods’ IPO
A new issue of 12,088,800 equity shares having a face value of ₹5 and a selling offer of 13,43,200 equity shares are included in the ₹81.94 crore Jeyyam Global Foods IPO.
The money will be used by the business for a number of things, such as working capital needs, capital expenditures, and general corporate objectives.
The issue registrar for the Jeyyam Global Foods IPO is Kfin Technologies Limited, while the book running lead manager is Corpwis Advisors Private Limited. Nnm Securities is the market maker for the Jeyyam Global Foods IPO.
Today’s IPO GMP for Jeyyam Global Foods
The grey market premium, or IPO GMP, for Jeyyam Global Foods is ₹25 today. According to investorgain.com, this shows that the price of Jeyyam Global Foods’ shares were selling at a premium of ₹25 on the black market.
Based on the top end of the IPO price range and the existing premium on the grey market, Jeyyam Global Foods’ predicted listing price was ₹86 per share, 40.98% more than the IPO price of ₹61.
A “grey market premium” denotes the willingness of investors to part with more money than the issue price.
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