Jay Bee Laminations Limited IPO Opens; Check Price Band, Lot Size And Day 1 Subscription Status
The SME IPO opened for subscription on August 27. Here's all you need to know about the initial public offering of Jay Bee Laminations Limited.
The Jay Bee Laminations Ltd.'s initial public offering opened on Tuesday, August 27. The SME IPO comprises a total issue size of Rs 88.96 crores, split into a fresh issue of 45.7 lakh shares worth Rs 66.72 crores and an offer for sale of 15.23 lakh shares valued at Rs 22.24 crores.
Jay Bee Laminations IPO: Price Band, Lot Size And More
The IPO's price band is set between Rs 138 and Rs 146 per share. Retail investors can apply for a minimum lot size of 1,000 shares, requiring an investment of Rs 1,46,000. High Net-Worth Individuals must apply for a minimum of 2 lots, totaling 2,000 shares, which amounts to Rs 2,92,000.
Swaraj Shares and Securities Private Ltd. is the book-running lead manager for the IPO, while Bigshare Services Pvt Ltd. serves as the registrar. Shreni Shares is appointed as the market maker for the issue.
As per the company's red herring prospectus, out of the 60,93,000 shares offered, 18.71% are reserved for qualified institutions, 14.31% for non-institutional investors, 33.91% for retail investors and 28.06% for anchor investors.
The subscription period for the IPO will end on August 29, 2024, with the allotment set to be finalised on August 30, 2024. The shares are expected to be listed on the NSE SME platform, with the tentative listing date scheduled for September 3, 2024.
Jay Bee Laminations IPO Day 1 Subscription Status
The IPO was subscribed 5.21 times on Tuesday.
Qualified Institutions: 0 times.
Non-institutional Buyers: 3.33 times.
Retail Investors: 8.88 times.
About Jay Bee Laminations Ltd.
Founded in 1988, Jay Bee Laminations Ltd specialises in the supply of Cold Rolled Grain Oriented (CRGO) Silicon Steel Cores and Cold-Rolled Non-Grain-Oriented (CRNGO) Steel Cores. The company’s products include electrical laminations, slotted coils, and assembled cores designed for use in transformers, UPS systems, and inverters within the power industry.
Jay Bee Laminations operates a production facility covering 10,878 square meters, equipped with advanced proprietary equipment for cutting, slitting, assembling, and testing electrical steel cores. The facility also includes a laboratory for raw material and product testing, along with a tooling department for blade sharpening.
Jay Bee Laminations IPO: Use of Funds and Objectives
The net proceeds from the fresh issue will be used to fund working capital requirements and for general corporate expenses.
Financial Performance of Jay Bee Laminations
In the financial year ending March 31, 2024, Jay Bee Laminations Ltd. reported a 23% increase in revenue compared to the previous year. Profit After Tax saw a rise of 42%.
