Shares of Jay Kailash Namkeen were quoting at Rs 80.75 on the BSE, a premium of 10.62% compared with the issue price of Rs 73.
The scrip was listed at Rs 85, a premium of 16.44% compared with the initial public offer (IPO) price. The stock is currently frozen at its lower limit of 5% over its listing price.The counter hit a high of Rs 86.90 and a low of Rs 80.75. About 7.97 lakh shares of the company changed hands at the counter.
Jay Kailash Namkeen's IPO was subscribed 38.03 times. The issue opened for bidding on 28 March 2024 and it closed on 3 April 2024. The price band of the IPO was fixed at Rs 70 to Rs 73 per share.
The IPO comprised fresh issue of 16,33,600 equity shares. The promoter and promoter group shareholding diluted to 48.33% from 71.82% pre-IPO.
The company intends to utilise the net proceeds to meet working capital requirement and general corporate purpose.
Jay Kailash Namkeen is a manufacturer of packaged Indian snacks. With a total of 186 SKUs (Stock Keeping Units) across 56 products, the company offers a range of convenient pack sizes, from small Rs 5 and Rs 10 packs to larger 200-gram, 400-gram, 500-gram, 5-kg, and 20-kg packs. The company has total 14 employees.
The company recorded revenue from operations of Rs 6.39 crore and net profit of Rs 40.45 crore for the period as on 30 November 2023.
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