Schedule of Jay Bee Laminations
| Issue open date | 27 Aug 2024 |
| Issue close date | 29 Aug 2024 |
| UPI mandate deadline | 29 Aug 2024 (5 PM) |
| Allotment finalization | 30 Aug 2024 |
| Refund initiation | 02 Sep 2024 |
| Share credit | 02 Sep 2024 |
| Listing date | 03 Sep 2024 |
| Mandate end date | 13 Sep 2024 |
| Lock-in end date for anchor investors (50%) | 29 Sep 2024 |
| Lock-in end date for anchor investors (remaining) | 28 Nov 2024 |
Note: The schedule is tentative. The anchor lock-in period ends 30 days after the actual allotment date for 50% of the shares and 90 days after for the remaining portion. The allotment status can be checked on the registrar's website and the exchange website.
About Jay Bee Laminations
Established in 1988, Jay Bee Laminations manufactures and supplies a range of products such as electrical laminations, slit coils, and assembled cores made of cold rolled grain-oriented silicon steel and cold-rolled non-grain-oriented steel for applications in transformers, UPS, and inverters, for end-use in the power industry.
The company’s manufacturing units are equipped with all in-house facilities for slitting, cutting, assembling, and testing of CRGO and CRNGO electrical steel cores spread across a total area of 10,878 sq mt and have used 83% of the installed capacity as of March 31, 2024. Current facilities are well equipped to serve customers who are manufacturing transformers up to 220 kV.
Financials of Jay Bee Laminations
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹88.96 crores |
| Fresh Issue | ₹66.72 crores |
| Offer for sale | ₹22.24 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working capital requirements | 43 (64.48%) |
| General corporate purposes | 16.68 (25%) |
| Others | 7.04 (10.52%) |
Strengths
- Long-standing client relationships: The company’s services are focused on consistently delivering efficiencies, accuracy meeting, and achieving customers’ performance indicators. This led to nearly 35% of restated revenues from key customers and 40% of revenues from repeat customers.
- Low Rejection Rates: The company prioritizes quality control and safety measures during the distribution of the CRGO and CNRGO steel cores to its customers. Through a concerted effort, The company has achieved a remarkably low rejection rate of 0.72% of cores among its customers.
- Quality assurance: The company, which holds ISO 9001:2015 certification, has implemented quality management systems internally. In addition to external agency inspections, internal inspections and incremental quality control of raw materials are conducted to uphold quality assurance standards.
Risks
- Third-party dependence: The company depends significantly on third-party transportation providers for both procurement of raw materials and distribution of the products. Any disruption of such services could adversely impact the business operations and financial performance.
- Lack of long-term contracts: The company does not have any long-term agreements with its customers. If customers choose to refrain from sourcing their requirements from the company or manufacturing such products in-house, the business and results of operations may be adversely affected.
- Restrictions on import of raw materials: The company currently imports CRGO steel and CRNGO steel from China, Poland, USA, UAE, Japan, Germany, etc to manufacture electrical steel products. Any restriction on the import of raw materials may adversely impact the business and results of operations.
- Geographical concentration: Nearly 75% of the company’s domestic sales (including supply to SEZ) are derived from the northern and southern regions, and any adverse developments in this market could adversely affect the business.