Jiwanram Sheoduttrai Industries IPO to open on September 8: Check price band & other details

The initial public offering (IPO) of Jiwanram Sheoduttrai Industries will open for subscription on Friday, September 8. The company will offer its shares at a fixed price of Rs 23 apiece to raise Rs 17.07 crore from its initial stake sale. The issue is a SME platform and will be listed on the emerging platform of the National Stock Exchange (NSE).

The initial stake sale offer comprises a fresh issue of 74,22,000 with no offer-for-sale (OFS) component. As per the RHP of the company, net proceeds from the issue shall be utilized towards meeting the working capital requirements, repayment of certain unsecured loans availed by the company, general corporate purpose and to meet the offer expenses.

Investors need to bid for a minimum of 6,000 equity shares, with each lot costing Rs 1.38 lakh to investors. Retail investors can apply for a single lot only, while non-institutional investors need to apply for two at least two lots, or 12,000 equity shares. The issue will close for bidding on Tuesday September 12.
 
Jiwanram Sheoduttrai Industries iis engaged in the business of manufacturing industrial garment and safety gloves, along with personal protective equipment (PPE).  It has manufacturing units located in Baruipur, Nandankanan, and Falta SEZ West Bengal. It has more than 20 years of experience in the industrial safety sector, with its reach extending to more than 20 nations.

Affinity Global Capital Market is the sole manager to the issue, while Cameo Corporate Services is the registrar to the offer. Giriraj Stock Broking is the market maker to the issue. The company may make its debut at the bourses on September 21, Thursday.

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