Sunil Shankar Matkar
September 06, 2023 / 07:25 PM IST
Kolkata-essentially based entirely mostly Jiwanram Sheoduttrai Industries' IPO will most likely be opening for subscription on September 8, with a design to rob Rs 17.07 crore at a tag of Rs 23 per piece.
It is a mounted-tag convey.
The initial public offering of 74.22 lakh equity shares consists of most productive a contemporary convey by the financial safety gloves and garments maker. Out of the total convey, 3.72 lakh shares are reserved for the market maker and the final portion of 70.5 lakh shares is the on-line convey.
Extra, the on-line convey is divided equally between retail merchants and excessive networth other folks, i.e. 35.25 lakh shares every.
The lot measurement has been mounted at 6,000 equity shares and in multiples of 6,000 shares thereafter. Retail merchants can portray for most productive 6,000 shares fee Rs 1.38 lakh as it might probably perhaps exceed the funding limit of as a lot as Rs 2 lakh, whereas excessive networth other folks can build a minimum funding of Rs 2.76 lakh for 12,000 shares.
Incorporated in 1997, Jiwanram Sheoduttrai Industries manufactures and exports industrial safety gloves and garments, with manufacturing products and services at Nandankanan and Falta SEZ in West Bengal.
Exports contributed over 59 percent to the topline of Rs 40.69 crore and the final earnings got here from the home commerce in the yr ended March FY23.
The contemporary convey proceeds will most likely be utilised mainly for the working capital requirements amounting to Rs 9.11 crore and repaying debts fee Rs 2 crore. The final money will most likely be ancient for fashioned corporate applications and provide costs of Rs 2.76 crore.
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The final public convey will cease on September 12 and the muse of allotment of IPO shares will be finalised with the session of NSE by September 15.
The equity shares will most likely be transferred to the demat accounts of winning merchants by September 20, whereas the refunds will most likely be credited to financial institution accounts of unsuccessful merchants by September 18.
The purchasing and selling in equity shares will delivery on the NSE Emerge with attain from September 21.