Upcoming SME IPO: Jyoti Global Plast IPO opens soon. GMP signals strong premium; price, date, other details
Jyoti Global Plast is a leading polymer-based packaging manufacturer, with a recent foray into defence and aerospace.
The offer is a mix of fresh issue of 40,50,000 shares and an offer for sale (OFS) of up to 10,50,000 equity shares of face value of ₹ 10 each. Jyoti Global Plast IPO price band has been fixed in the range of ₹ 62 to ₹ 66 per share.
Retail investors can bid for the IPO in lot sizes of 4,000 shares, amounting to a minimum investment of ₹ 2.64 lakh at the upper end of the price band.
The company plans to use the proceeds raised from the fresh share sale for funding a new manufacturing unit at MIDC Mahad, loan repayment and general corporate purposes.
Unistone Capital Pvt Ltd is the book-running lead manager of this issue.
The grey market premium (GMP) for Jyoti Global Plast IPO has seen a strong jump. From nil a few days back, Jyoti Global Plast IPO has risen to ₹ 11 currently. At this GMP, Jyoti Global Plast IPO shares could list at ₹ 77, a premium of 16.67%.
Incorporated in January 2004, Jyoti Global Plast specialises in plastic molding solutions. The company offers custom solutions for polymer-based packaging containers and toys for industries including pharmaceuticals, chemicals, food & beverages, oil, adhesives, and childcare.
The company provides a diverse and innovative range of plastic molding products, catering to various industries.
Jyoti Global Plast has recently forayed into the defence and aerospace sectors and has already secured an order book exceeding ₹ 20 crore, the company said in a press release. The company is also venturing into drone and anti-drone systems, including drone jammers, detectors, etc.
The company has reported excellent operational and financial performance over years, witnessing a multi-fold growth in revenue and profitability over the years. For FY24-25 ended March, the company has reported a net profit of ₹ 608 lakh and revenue of ₹ 93.48 crore. The company's total income stood at ₹ 93.79 crore, with ₹ 11.65 crore EBITDA. The YoY growth in net profit was 68% whereas EBITDA Margin stood at 12.47%.
Disclaimer: This story is for educational purposes only. The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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