Jeyyam Global Foods, a Chennai-based food products company, is all set to go public with its initial public offering on September 2, 2024. This retail-investor-focused IPO will be listed on the NSE. This is part of Jeyyam Global Foods’ fundraising plan to raise a capital target fund to help expand its business.
Following is the key information regarding the IPO:
- Dates: This IPO for retail investors will be opened on September 2, 2024, and closed on September 4, 2024. Bidding will open for anchoring investors, if any, from August 30, 2024.
- Price Band: The company has fixed the bid price within Rs 59 to Rs 61 per share.
- Fund involve: Jeyyam Global Foods looks forward to raising between Rs 79.25 crore and Rs 81.94 crore.
- Minimum Order: The minimum bid lot is 2,000 equity shares, following which it can be invested in multiples of 2,000.
- Total Share 12: This IPO consists of 1,34,32,000 equity shares, comprising a new issue of 1,20,88,800 shares and an offer for sale of 13,43,200 shares from the promoter shareholder, Mr Sripal Veeramchand Sanghvi.
How the Funds Will Be Used
The funds so raised will be used to:
- Working Capital: For the day-to-day business operation and financial strength of the company.
- Capital Expenditure: For the growth and expansion of the company.
- Corporate Uses: For other corporate uses that are required to be fulfilled because of the growth of the company.
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Expansion Plan
The company is planning to do expansions on a robust basis. Jeyyam Global Foods will establish two compact Bengal gram cleaning and grading units in the Maharashtra area. One main integrated Bengal gram unit will be established in Madhya Pradesh.
The present plant facility where the primary operations are being conducted and which is in Salem Tamil Nadu, will be expanded in an additional area of 40,000 square feet.
About Jeyyam Global Foods
Jeyyam Global Foods operates for 12 years since 2008. The main operations take place in Salem, Tamilnadu. The raw material used in Jeyyam Global Foods is to be collected in the states Andhra Pradesh, Karnataka, Maharashtra, Madhya Pradesh, and various states in North India.
Throughout India, Jeyyam Global Foods are entering the market by making their products reach the end consumer directly. Jeyyam Global Foods are entering the B2C segment where they are reaching out to consumers directly by products such as soya chunks and vermicelli.
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