Jay Bee Laminations IPO: Key Highlights and Market Performance

Market Performance of Jay Bee Laminations IPO

Jay Bee Laminations made an impressive market debut on Tuesday, September 3. Its shares are listed at ₹277.40 each on the NSE SME, representing a 90 per cent premium over the upper band of the issue price, which was set at ₹146. Following the strong opening, the stock surged further, reaching a 5% upper circuit at ₹291.25 per share.

Investors who were allotted shares saw their investments double within just an hour. The IPO garnered significant attention during its bidding period from August 27 to August 29, 2024, with a price range between ₹138 and ₹146.

IPO Subscription and Investor Interest

• The IPO achieved an overall subscription rate of 113.95 times.
• Non-institutional investors were particularly active, subscribing at 230 times.
• Retail investors showed robust interest, with an 87 times subscription rate.

Financial Aspects and Corporate Goals

The SME IPO, valued at ₹88.96 crore, included a fresh issue of 45.7 lakh shares amounting to ₹66.72 crore and an offer for the sale of 15.23 lakh shares totalling ₹22.24 crore. The company plans to use the net proceeds from the fresh issue to fund its working capital requirements and general corporate expenses.

About Jay Bee Laminations

Founded in 1988, Jay Bee Laminations Ltd. specializes in supplying cold-rolled grain-oriented (CRGO) and cold-rolled non-grain-oriented (CRNGO) steel cores. The company produces various products used in transformers, UPS systems, and inverters.

The company’s manufacturing facilities span 10,878 square meters, equipped with specialized machinery for cutting, slitting, assembling, and testing electrical steel cores. An in-house laboratory is maintained for material testing.

Capacity and Customer Base

As of December 31, 2023, Jay Bee Laminations utilized 84 per cent of its installed capacity, catering to manufacturers of power and distribution transformers with voltage ratings from 11 kV to 220 kV.