Jeyyam Global Foods Limited IPO Opens on September 02, 2024

Equity Share Allocation

• Total Issue Size – 1,34,32,000 Equity Shares
• Market Maker Reservation – 6,72,000 Equity Shares
• Net Issue Size – 1,27,60,000 Equity Shares
• Of the Net Issue size:
• Qualified Institutional Buyers (QIB) – 63,80,000 Equity Shares (including anchor portion of up to 38,28,000     Equity Shares)
• Non-Institutional Investors (NII) – Up To 19,14,000 Equity Shares
• Retail Individual Investors (RII) – Up To 44,66,000Equity Shares

Out of the Net Funds raised (i.e., excluding the potion of Offer for Sale and Issue related expenses), ₹ 19 crore will be utilized for Capital Expenditure, ₹ 35 crore for Working Capital and balance towards the general corporate purpose. The Issue closes on September 04, 2024.

The Book Running Lead Manager to the Issue is CorpwisAdvisors Private Limited. The Registrar to the Issue is KfinTechnologies Limited.

Jeyyam Global Foods Limited (‘the Company’) is lead by a dynamic board comprising of Mr. Amit Agarwal, Managing Director, Mr. Shripal Veeramchand Sanghvi, Whole Time Director, Mrs. Sujathaa Mehta, Non-Executive Director, Mr. Vikash Mahipal, Non-Executive Independent Director & Mr. Shanmugam, Non-Executive Independent Director.

The Promoters of the Company are Mr. Shripal VeeramchandSanghvi, Mr. Amit Agarwal, Mrs. Sujathaa Mehta, Shanti Guru Industries Limited, Mrs. Sarika Ssangavi, M/s. Shripal Sanghvi HUF and M/s. Mahipal Sanghvi HUF.

Key Highlights

• Issue Size – 1,34,32,000 Equity Shares of ₹ 5 each
• Anchor Investor bidding date – August 30, 2024
• Price band – ₹ 59 per equity share to ₹ 61 per equity shar
• Issue Size – ₹ 79.25 Crores at the lower end of the price band and ₹ 81.94 Crores at the upper end of the price band
• ​Lot Size – 2,000 Equity Share
• Bid/offer opening date – September 02, 2024
• Bid/offer closing date – September 04, 2024

Shripal Veeramchand Sanghvi, Whole Time Director of Jeyyam Global Foods Limited expressed, “We are excited to announce our decision to go public with an Initial Public Offering. Our journey in the Chana and the Chana related products industry has been characterized by unwavering commitment to quality.The IPO proceeds will support our working capital requirements, ensuring preparedness to meet increasing demand. We are dedicated to excellence and anticipate using the funds to strengthen our market positionand broaden our product range while we embark on this exciting new chapter.”

Mr. Vishal Kumar Garg, Director of Corpwis Advisors Private Limited said, “Jeyyam Global Food Limited’s IPO is a testament to the company’s strong fundamentals and growth prospects. With track record of delivering quality products, Jeyyam is well-positioned to capitalize on the opportunities in the food processing industry. With its strategic move into the B2C market and a diverse product range, the company is poised for significant expansion. The utilization of the net proceeds will further enhance the company’s operational capabilities and drive value creation. Wishing the team every success as they embark on this exciting new chapter.”

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.