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Tuesday, December 07, 2021

SJS Enterprises IPO: Everything you need to know

SJS Enterprises IPO: The Rs 800 crore initial public offering (IPO) of SJS Enterprises will be available from November 1-3, 2021. It has a price band of Rs 531-542 per share.

By: Express Web Desk | New Delhi |
Updated: November 1, 2021 4:41:15 pm
SJS Enterprises IPO, SJS Enterprises IPO price, SJS Enterprises IPO sizeSJS Enterprises is a leading player in the Indian decorative aesthetics industry offering the widest range of aesthetics products in the country. (Representative image, source: Getty/Thinkstock)

SJS Enterprises IPO: The initial public offering (IPO) of SJS Enterprises has opened for subscription on Monday, November 1, 2021, at a price band of Rs 531-542 per share. The offer will be available till Wednesday, November 3, 2021.

Through the offer, SJS Enterprises aims to raise Rs 800 crore. The IPO is entirely an offer for sale (OFS) of shares worth Rs 710 crore by Evergraph Holdings Pte Ltd and shares to the tune of Rs 90 crore by KA Joseph.

The company will not receive any proceeds from the offer.

At present, Evergraph Holdings and KA Joseph own 77.86 per cent and 20.74 per cent stake in the company, respectively.

SJS Enterprises is a leading player in the Indian decorative aesthetics industry offering the widest range of aesthetics products in the country.

It is a “design-to-delivery” aesthetics solutions provider with the ability to design, develop and manufacture a diverse product portfolio.

The company caters to the requirements of the two-wheeler, passenger vehicle, commercial vehicle, consumer appliance, medical devices, farm equipment and sanitary ware industries.

SJS Enterprises’ 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 in-mould decoration, lens mask assembly and chrome-plated, printed and painted injection moulded plastic parts.

Investors who wish to subscribe to SJS Enterprises IPO can bid in a lot of 27 equity shares and multiples thereafter. At the upper price band, they will be shelling out Rs 14,634 to get a single lot of SJS Enterprises. The shares will be listed on both BSE as well as the National Stock Exchange (NSE).

The applicants also must note that the cut-off time for UPI mandate confirmation is Monday, November 8, 2021, upto 12:00 pm. If they fail to do so then their application may not be considered.

Axis Capital, Edelweiss Financial Services and IIFL Securities are the book running lead managers to the offer while Link Intime India is the registrar of the issue.

Before heading into the IPO, SJS Enterprises raised nearly Rs 240 crore (Rs 2,39,99,99,306) from 18 anchor investors in lieu of 44,28,043 equity shares at Rs 542 each, data from the stock exchanges showed.

The anchor investors include the likes of Goldman Sachs, Nomura Singapore, Citigroup Global Markets Mauritius, Societe Generale, Axis Mutual Fund and Aditya Birla Sun Life Mutual Fund among others.

The share allotment is likely to take place on Wednesday, November 10, 2021, and the shares are expected to be listed on Monday, November 15, 2021, according to the timeline given in the red herring prospectus (RHP).

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