Jiwanram IPO: What latest GMP, subscription status signal ahead of allotment date

Jiwanram IPO share allotment will take place on Friday, September 15. Those allotted shares will get them in their demat accounts on Wednesday, September 20. The refund process for those who did not get shares will begin on Monday, September 18. Jiwanram Sheoduttrai Industries IPO shares will be listed on NSE SME on Thursday, September 21.

Jiwanram Sheoduttrai Industries manufactures and exports Industrial Safety Gloves and Garments. The company built a cutting-edge production plant and began exporting to the United States, Spain, Germany, and Belgium.

Jiwanram Sheoduttrai Industries IPO Subscription Status details

Jiwanram IPO subscription status was 112.96 times on day 3. The retail portion was subscribed 151.47 times, while the Non-Institutional Bidders (NIB) portion was subscribed 69.75 times.

Jiwanram Sheoduttrai Industries Ltd IPO has received bids for 79,63,68,000 shares against 7,422,000 shares on offer,  according to data available on the chittorgarh.com.

Jiwanram IPO subscription status was 6.03 times on day 1, and day 2 the issue was subscribed 36.73, according to data available on chittorgarh.com.

Jiwanram Sheoduttrai Industries IPO GMP today

Jiwanram IPO GMP today or grey market premium is +12 similar to the previous trading session. This indicates Jiwanram Sheoduttrai share price were trading at a premium of ₹12 in the grey market on Wednesday, according to topsharebrokers.com

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Jiwanram Sheoduttrai share price is ₹35 apiece, which is 52.17% higher than the IPO price of ₹23.

Today IPO GMP trending upward and expects a strong listing. The lowest GMP is ₹6, while the highest GMP is ₹15, according to topsharebrokers.com

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

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Jiwanram IPO details

Jiwanram IPO, which is worth ₹17.07 crore, is completely a fresh issue of 74,22,000 equity share; there is no offer for sale (OFS) component. The face value of the equity shares is ₹10 each and the issue price is 2.30 times of the face value. Jiwanram Sheoduttrai Industries IPO lot is 6,000 shares.

The company plans to utilise ₹2 crore for repayment/prepayment of some borrowings, ₹9.1 crore for working capital, and ₹3.2 crore for other corporate purposes from the issue proceeds. The company’s share capital will rise from ₹17.32 crore before the public offering to ₹24.74 crore post the issue . Promoters and Promoters Group holds a 99.996% share in the company. Promoter group holding will be 70.01% after the IPO.

Jiwanram Sheoduttrai Industries currently has a turnover of ₹42 crore, a profit after tax (PAT) of ₹4 crore, and a PAT margin of 9.5%, growing at a 20% rate.The company reported ₹34.2 crore in revenue for FY21–22 and ₹1.5 crore in net profit.

The issue’s book-running lead manager is Affinity Global Capital Market Private Ltd, while Jiwanram Sheoduttrai Industries IPO registrar is Cameo Corporate Services Ltd.

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Updated: 13 Sep 2023, 03:10 PM IST