The anchor investor bidding is scheduled for August 30, 2024. The corporate goals to boost between ₹79.25 crore and ₹81.94 crore, relying on the ultimate worth band, based on the corporate’s administration.
The IPO will encompass as much as 1,34,32,000 fairness shares with a face worth of ₹5 every. This features a contemporary challenge of as much as 1,20,88,800 fairness shares and a suggestion on the market (OFS) of as much as 13,43,200 fairness shares by promoter shareholder Sripal Veeramchand Sanghvi. The fairness shares will probably be listed on the NSE’s SME platform.
Traders can place bids for no less than 2,000 fairness shares and in multiples of two,000 thereafter. Corpwis Advisors is serving because the book-running lead supervisor for the provide.
Utility of the proceeds
The corporate plans to make use of the proceeds from the IPO, excluding the OFS portion and issue-related bills, for capital expenditure (₹19 crore), working capital wants (₹35 crore), and different company functions.
Jeyyam International Meals intends to ascertain two Bengal gram (chana) cleansing and grading models in Maharashtra and an built-in unit in Madhya Pradesh that can embody a cleansing and grading plant, a fried gram plant, a gram dal plant, and a gram flour plant. Moreover, the corporate will increase its operations in Salem, Tamil Nadu, with a brand new 40,000 sq ft facility.
The corporate plans to extend its fried gram manufacturing capability by 30 per cent from the present 55,000 tonnes every year, whereas the capability for cleaned and graded chana will rise from 106,000 tonnes to 216,000 tonnes. The gram flour capability can even increase to 50,000 tonnes from the present 10,000 tonnes.
Based in 2008, Jeyyam International Meals Ltd specialises within the manufacturing and provide of chana, fried gram, and besan flour to B2B segments. The corporate is now transferring into the B2C section, initially introducing merchandise like soya chunks and vermicelli, with plans to additional increase into spices, masalas, ready-to-eat meals, salt, and sugar.
Promoter holding
The corporate’s promoters embody Shripal Veeramchand Sanghvi, Amit Agarwal, Sujathaa Mehta, Shnti Guru Industries, Sarika Sangavji, Shripal Sanghvi, and Manipal Sanghvi. Amit Aggarwal serves because the Managing Director, whereas Shripal Veeramchand Sanghvi is the Complete Time Director. Publish-IPO, the promoters’ holding will come right down to 66-67 per cent from 92 per cent earlier.
In FY24, the corporate reported revenues of ₹630 crore, up from ₹380 crore in FY23, with a internet revenue of about ₹16 crore.
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