Jeyyam Global Foods IPO subscribed 1.05 times on Day 1 so far on robust retail demand. Check GMP, issue details, more.

The subscription period for the Jeyyam Global Foods IPO started on Monday, September 2, and will end on Wednesday, September 4. The IPO shares of Jeyyam Global Foods are priced in the range of ₹59 to ₹61, with a face value of ₹5. Investors can bid for a minimum of 2000 shares, and multiple shares are available for bidding.

The issue offers 63,80,000 equity shares to Qualified Institutional Buyers (QIB), with an anchor portion comprising up to 38,28,000 equity shares. Non-Institutional Investors (NII) may be offered a maximum of 19,14,000 equity shares, and up to 44,66,000 equity shares may be offered to retail investors.

Jeyem Global Foods Ltd, previously known as Kichoni Online Services Private Ltd, was established in 2008 and specialises in the production and/or processing of Bengali chickpeas, commonly known as “chana,” Fried Gram, and Besan Flour. Its customer base includes a wide variety of clients such as distributors, major retail chains, hotels, restaurants, caterers, popular supermarkets, and wholesalers. Jeyem offers the following products: Standard fried gram (split), Standard fried gram (whole), and Jeyem fried gram (split).

The company’s red herring prospectus (RHP) indicates that Sameera Agro and Infra Ltd is its listed peer, with a P/E ratio of 9.80.

Jeyyam Global Foods Ltd experienced a 65% surge in sales and a 92% growth in profit after tax (PAT) between the fiscal year ending on March 31, 2024, and March 31, 2023.

Jeyyam Global Foods IPO subscription status

Jeyyam Global Foods IPO subscription status is 1.05 times, on day 1, so far.

The retail portion was subscribed 1.81 times, and NII portion was booked 69%. Qualified Institutions Buyers are yet to be booked.

The company has received bids for 94,02,000 shares against 89,84,000 shares on offer, at 15:57 IST, according to data on chittorgarh.com

Jeyyam Global Foods IPO details

The Jeyyam Global Foods IPO, valued ₹81.94 crore, includes a fresh issuance of 12,088,800 equity shares with a face value of ₹5, and 13,43,200 equity shares offer for sale.

The company intends to use the funds for a variety of purposes, including general corporate purposes, capital expenditures, and working capital requirements.

Corpwis Advisors Private Limited is the book running lead manager for the Jeyyam Global Foods IPO, while Kfin Technologies Limited is the issue registrar. The market maker for the Jeyyam Global Foods IPO is Nnm Securities.

Jeyyam Global Foods IPO GMP today

Jeyyam Global Foods IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹61 with no premium or discount in the grey market according to investorgain.com

Experts at investorgain.com predict that, based on the activity of the last eight sessions of the grey market, the IPO GMP trend is unchanged and should continue in this manner until the listing day.

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

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