Jay Bee Laminations IPO Sees Frenzy: Fully Subscribed Within Hours, Strong Investor Demand on Day 1

The initial public offering (IPO) of Jay Bee Laminations Ltd opened for bidding on Tuesday and saw a strong response right from the start. The IPO was fully subscribed within hours of opening, highlighting the high demand from investors.

Jay Bee Laminations manufactures and supplies products like electrical laminations, slit coils, and assembled cores made from cold-rolled silicon steel. This IPO is a Small and Medium Enterprise (SME) IPO and will be open for subscription until August 29. The company aims to raise around ₹89 crore from the market.

Subscription Status

On the first day of the IPO, Jay Bee Laminations was subscribed 1.48 times by Tuesday afternoon. The issue received bids for 60.43 lakh equity shares against 40.78 lakh shares on offer. The retail category was subscribed 2.40 times, while the Non-Institutional Investors (NII) category saw a subscription of 1.24 times.

IPO GMP (Grey Market Premium)

The shares of Jay Bee Laminations are trading at a good premium in the grey market. As of today, the IPO’s grey market premium (GMP) is ₹85 per share. This means that Jay Bee Laminations shares are trading at ₹231 per share in the grey market, which is 58.22% higher than the issue price of ₹146 per share.

IPO Details

• Opening Date: August 27
• Closing Date: August 29
• Allotment Date: Expected on August 30
• Listing Date: Likely on September 3
• IPO Type: SME IPO, with shares to be listed on NSE SME
• Price Band: ₹138 to ₹146 per share
• Total Funds to Be Raised: ₹88.96 crore
• Fresh Issue: 45.7 lakh shares worth ₹66.72 crore
• Offer-for-Sale (OFS): 15.23 lakh shares totaling ₹22.24 crore
• Lot Size: 1,000 shares
• Minimum Investment: ₹146,000 for retail investors

The company plans to use the funds from the IPO to meet working capital requirements and cover general corporate expenses. Swaraj Shares and Securities Pvt Ltd is managing the IPO, and Bigshare Services Pvt Ltd is the registrar.