Jivial Industries IPO opens today. Check GMP, price band, subscription and other details

Synopsis

The BSE SME issue will close on June 25, while the shares are scheduled to list on July 1. The IPO is priced at Rs 196 per share and comprises a combination of a fresh issue worth Rs 26.65 crore and an offer for sale (OFS) of Rs 5.34 crore, taking the total issue size to Rs 31.99 crore.

Jivial Industries' SME IPO will open for subscription on Tuesday, with the grey market indicating a subdued listing. The company's shares commanded a grey market premium (GMP) of 0% ahead of the issue, suggesting no expected listing gains at current levels.

The BSE SME issue will close on June 25, while the shares are scheduled to list on July 1. The IPO is priced at Rs 196 per share and comprises a combination of a fresh issue worth Rs 26.65 crore and an offer for sale (OFS) of Rs 5.34 crore, taking the total issue size to Rs 31.99 crore.

Retail investors can bid for a minimum of 1,200 shares, requiring an investment of Rs 2.35 lakh.

Aluminium railing manufacturer

The company caters to construction firms, architects, interior designers, fabricators and glass solution providers across India, with a strong presence in Gujarat, Maharashtra and Chhattisgarh. It also exports a small portion of its products to Oman.

Jivial operates a manufacturing facility in Rajkot and plans to establish a second unit to expand production capacity and strengthen backward integration through aluminium extrusion.

Use of IPO proceeds

With the GMP at zero, the grey market is not pricing in listing gains at present. Investors may therefore focus on the company's long-term growth prospects and execution of its expansion plans rather than short-term listing expectations.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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