SJS Enterprises, one of the leading players in the Indian decorative aesthetics products industry, has fixed November 1 as the opening date for its initial public offering (IPO).
The price band has been set at Rs 531-542 per share.
The Rs 800-crore IPO is entirely an offer for sale (OFS) of Rs 710 crore by Evergraph Holdings Pte Ltd and Rs 90 crore by KA Joseph.
The issue will close on November 3. The minimum bid lot size has been set at 27 shares and in multiples of 27 shares thereafter.
Retail investors can bid for a minimum Rs 14,634 worth of shares and the maximum investment by them would be worth Rs 1,90,242 at the upper price band.
Half of the offer has been reserved for qualified institutional buyers including anchor investors for whom the issue will be opened for a day on October 29. Of the total offer, 15 percent is reserved for non-institutional bidders and the remaining 35 percent for retail investors.
Book Running Lead Managers are - Axis Capital Limited, Edelweiss Financial Services Limited and IIFL Securities Limited.
Sanjay Thapar, Executive Director and CEO at SJS Enterprises told The Economic Times, “IPO primarily is for Evergraph, one of our investors, wants to diversify some stake and same for Joseph. Moving forward, both Joseph and Evergraph are a part of the promoter group and they will continue to be in the company for the next few years. Joe of course is the promoter and he is driving the whole business.”
“We expect strong growth from the segments that we cater to -- largely automotive and includes both two-wheelers and four-wheelers. That accounts for about 65% of our sales, of which 35% to 30% comes from appliances. We are very well diversified both in terms of the customers, the product mix and the geographies that we serve. 17% of our sales come from export and we are supplying to many end segments and we see very strong traction moving forward,” Thapar said.
SJS is one of the leading players in the Indian decorative aesthetics industry. The product offerings include decals and body graphics, 2D appliques and dials, 3D appliques and dials, 3D lux badges), domes, overlays, aluminium badges, in-mould label or decoration parts, lens mask assembly and chrome-plated, printed and painted injection moulded plastic parts.
