Today, on April 8, 2024, Jay Kailash Namkeen had a strong start in the market as its shares began trading at ₹85 each on BSE SME. This marked a 16.43% premium compared to the IPO price of ₹73.
The SME IPO, valued at ₹11.93 crore, was open for subscription from March 28 to April 3, 2024, with shares priced in the range of ₹70–73 each. It consisted solely of a fresh issue of 16.34 lakh newly issued shares, with no offer-for-sale component.
The IPO received a remarkable response, with an overall subscription of 40 times. Retail investors showed significant interest, subscribing 50.99 times, while non-institutional buyers displayed strong enthusiasm with a subscription of 68.93 times. Qualified institutional buyers (QIBs) subscribed 2.32 times, as per data from Chittorgarh.
Established in 2021, Jay Kailash Namkeen specializes in packaged Indian snack production, offering a diverse range of products including Chana Jor Namkeen, Masala Chana Jor, Soya Sticks, and more.
The Indian snack food market is highly competitive, with numerous players competing for market share. Despite this, the company believes its competitive edge lies in maintaining product quality, timely delivery, and competitive pricing.
In terms of financial performance, the company’s revenue has fluctuated over the past years, with a rebound in the first six months of FY24. Similarly, profitability has shown a varying pattern, with a notable increase in profit after tax (PAT) in recent years, including the first six months of FY24.
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