Jiwanram Sheoduttrai Industries gets NSE SME nod for their upcoming SME IPO
Sep 1, 2023
kolkata, West bengal Sep 1, 2023 (Issuewire.com) - Jiwanram Sheoduttrai Industries Ltd. (JSIL) has filed draft papers to raise funds through the SME initial public offering (SME IPO). The company received approval from NSE SME on the Draft Prospectus on 29th August 2023, Merchant Banker being Affinity Global Capital Market
Private Limited (AGCMPL). The company aims to raise funds via SME IPO by offering fresh equity shares of 74,22,000 and no offer for sale (OFS). The company aims to utilize the Offer proceeds to meet the working capital requirements, prepayment and repayment of all or a portion of certain unsecured loans availed by our company, for general corporate purposes and to meet the offer expenses as per the DRHP.
Jiwanram Sheoduttrai Industries Ltd. (JSIL) is a significant participant in the domestic industry as well as the worldwide personal protective equipment market (PPE industry). Jiwanram began producing PPEs when it first began business in 1997. The company built a cutting-edge production plant and began exporting to the United States, Spain, Germany, and Belgium. JSIL has distinguished itself in the market as it has grown, notably in Europe, America, and the Middle East, with its high-quality products. JSIL has more than 20 years of experience in the industrial safety sector. Its geographic reach extends
to more than 20 nations.
The company first produced industrial safety gloves before progressively expanding its offering in the industrial garment industry. The company has expanded into one of the top exporters and technology-driven safety solutions providers in India, 10 other countries, and 6 other states, with 3 manufacturing
facilities.
The personal protective equipment market (PPE Market) was valued at USD 68.5 billion in 2022 and is projected to shrink by 1.3% between 2022 and 2027 to reach USD 64.2 billion. The manufacturing and construction sectors' rising need for personal protection equipment is one of the key drivers fuelling
market expansion.
The promoters of the company are Mr. Alok Prakash - MD, Mrs. Anupama Prakash - CFO and Mr. Gyan Prakash. Growing at 20%, the company's current turnover is INR 42 crore with a PAT of INR 4 crore
and 9.5% PAT Margin.
Jiwanram Sheoduttrai Industries Limited has registered with the Government e-Marketplace (GeM) under the Quality Council of India as an Original Equipment Manufacturer (OEM). The purpose of this action was to strengthen the company's position in the domestic market. For some of the brand owners in the work and casual clothing market, JSIL has been giving employment opportunities.
Jiwanram's issue is being managed by Affinity Global Capital Market Private Limited (AGCMPL), a Category I Merchant Banker registered with SEBI. With the objective of becoming a single-window,
multilateral, and diversified solution provider, AGCMPL is a pioneer in the financial services industry.
www.Affinityglobalcap.in www.jiwanramgroup.com
Media Contact
Hunk Golden
B901/902 Cosmic Heigts Bhakti Park Wadala East Mumbai 400037
Source :Affinity Global
This article was originally published by IssueWire. Read the original article here.
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