Jeyyam Global Foods IPO Opens September 2: Grab Shares Between ₹59-₹61 Before It’s Too Late!

Jeyyam Global Foods’ IPO will be available for subscription from Monday, September 2, until Wednesday, September 4. The share price range is set between ₹59 and ₹61, with a minimum bid of 2000 shares.

The IPO offers 63.8 lakh equity shares to Qualified Institutional Buyers (QIBs), including up to 38.28 lakh shares for anchor investors. Non-Institutional Investors (NIIs) have up to 19.14 lakh shares available, and retail investors can access up to 44.66 lakh shares.

Jeyyam Global Foods Ltd, previously known as Kichoni Online Services Private Ltd, was founded in 2008. The company specializes in the production and processing of Bengali chickpeas (chana), fried gram, and besan flour, catering to a wide range of customers, including distributors, big-box stores, hotels, restaurants, caterers, branded supermarkets, and wholesalers. Their product lineup includes standard fried gram (split), standard fried gram (whole), and Jeyyam fried gram (split).

According to the red herring prospectus (RHP), Jeyyam Global Foods’ listed peer is Sameera Agro and Infra Ltd, which has a price-to-earnings ratio (P/E) of 9.80.

Between the fiscal years ending on March 31, 2024, and March 31, 2023, Jeyyam Global Foods Ltd saw a 65% increase in sales and a 92% rise in profit after tax (PAT).

The Jeyyam Global Foods IPO, worth ₹81.94 crore, includes the issuance of 1,20,88,800 fresh equity shares and an offer for sale of 13,43,200 equity shares. The funds raised will be used for working capital, capital expenditures, and general corporate purposes.

Corpwis Advisors Private Limited is the lead manager for the IPO, and Kfin Technologies Limited is the registrar. Nnm Securities is the market maker for Jeyyam Global Foods’ IPO.