Schedule of Jeyyam Global Foods
| Issue open date | 02 Sep 2024 |
| Issue close date | 04 Sep 2024 |
| UPI mandate deadline | 04 Sep 2024 (5 PM) |
| Allotment finalization | 05 Sep 2024 |
| Refund initiation | 06 Sep 2024 |
| Share credit | 06 Sep 2024 |
| Listing date | 09 Sep 2024 |
| Mandate end date | 19 Sep 2024 |
| Lock-in end date for anchor investors (50%) | 05 Oct 2024 |
| Lock-in end date for anchor investors (remaining) | 04 Dec 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 Jeyyam Global Foods
Incorporated in 2008, Jeyyam Global Foods specializes in manufacturing, processing, and supply of Bengal Gram (locally known as ‘Chana’), Fried Gram, and Besan Flour to a wide variety of markets like distributors, large retailers, hotels, restaurants, caterers, branded supermarkets and wholesalers. The company’s product portfolio includes Jeyyam fried gram (split), Jeyyam fried gram (whole), Standard fried gram (split) and Standard fried gram (whole), Jeyyam gram flour, Ponni gram flour, or Leader gram flour. The company is continuously engaged in undertaking research and development and is ready to enter into the B2C business of spices and masala, ready-to-cook and ready-to-eat foods, salt, sugar, soya, vermicelli, Whole toor dal, Urad dal, Toor dal split and Moong dal among others.
Financials of Jeyyam Global Foods
Issue size
| Funds Raised in the IPO | Amount |
| Overall | ₹81.94 crores |
| Fresh Issue | ₹73.74 crores |
| Offer for sale | ₹8.19 crores |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Working capital requirements | 35 (47.46%) |
| Capital expenditure | 19 (25.77%) |
| Others | 1.30 (1.77%) |
| General corporate purposes | 18.44 (25%) |
Strengths
- “Jeyyam” brand is known best for its quality. The company ensures that FSSAI ISO 9001:2015 and ISO 22000:2018 standards are followed.
- The company’s manufacturing facilities are completely automated and enabled with soft touch technology to ensure the production of hygienic products with minimal human intervention to retain the nutrient content of the products.
- The company specializes in manufacturing and processing of Bengal Gram, Fried Gram, and Besan flour with its significant R&D on processing. It does not have a major competitor focused solely on Chana-related products.
Risks
- The company’s 63% revenues are dependent on its top 10 customers. Any inability to maintain such business may hurt its operations.
- Its trade receivable days and the working capital cycle days have increased compared to the past 3 financial years from 15 as of March 2023 to 19 as of March 31, 2024. In addition to the same, its working capital cycle days have also increased from 42 as of March 2023 to 47 as of March 31, 2024.
- The Trading in the securities of one of the promoter companies i.e. Shanti Guru Industries Limited has been suspended by BSE Limited in the past for non-compliance with the SEBI requirements.
- The business is subject to seasonality as the chana crop is sown between October to December period and harvested between March and May. The primary impact of seasons on the business is pricing w.r.t the procurement of raw chana, which may adversely affect the business.
- The business is manpower intensive. The business may be adversely affected by work stoppages, increased wage demands by the employees, or an increase in minimum wages, if they are unable to engage new employees at commercially attractive terms.