S.J.S. Enterprises Limited is proposing to open the initial public offering of its Equity Shares on Monday, November 1, and close on November 3. The price band for the offer has been fixed at Rs 531-542 per share bearing a face value of Rs 10 each. Minimum Bid Lot is 27 Equity Shares and in multiples of 27 Equity Shares thereafter. The company is planning to raise Rs 800 crore through its public issue, which is entirely an offer for sale by Evergraph Holdings Pte Ltd (Rs 710 crore) and KA Joseph (Rs 90 crore).
- Offer Opens: Monday, November 1, 2021
- Offer Closes: Wednesday, November 3, 2021
- Price Band: Rs 531-542 per equity share
- Minimum Bid Lot: 27 Equity Shares and in multiples
Verdict – Neutral
The company has garnered Rs 240 crore from 18 anchor investors ahead of the opening of its initial public offering. The company has finalized the allocation of 44,28,043 equity shares to anchor investors, at a price of Rs 542 per equity share. Notable investors were Tara Emerging Asia Liquid Fund, Societe Generale, Nomura, Goldman Sachs, and Citigroup. Axis Mutual Fund, Franklin MF, Aditya Birla Sun Life Insurance, Avendus, and Edelweiss also invested in the company.
The Company is one of the leading decorative aesthetics suppliers with the widest product coverage across decorative aesthetics pertaining to major vehicle segments such as two-wheelers, passenger vehicles, and consumer durables. In addition, it also manufactures a wide range of aesthetic products that cater to the requirements of commercial vehicles, medical devices, farm equipment, and sanitary ware industries. The company designs develop and manufacture aesthetic products i.e., decals and body graphics, 2D appliques and dials, 3D appliques and dials, 3D lux badges, domes, overlays, aluminum badges, in-mold label or in-mold decorations, lens mask assembly, and chrome-plated, printed and painted injection-molded plastic parts. The Company has supplied over 115 million parts in 2021 to around 170 customers in approximately 90 cities across 20 countries.
The Company’s key customer base includes Suzuki Motorcycle India, Mahindra & Mahindra, John Deere India, Skoda Auto Volkswagen India, Honda Motorcycle and Scooter India, Bajaj Auto, Royal Enfield, Marelli UM Electronic Systems, Visteon, Whirlpool, Panasonic India, Samsung India, Eureka Forbes, Godrej & Boyce, etc.