Jyoti Global Plast Sets IPO Price Band At ₹62–66; Issue To Open On Aug 4 And Raise ₹35.44 Crore

Mumbai: Plastic and FRP moulding company Jyoti Global Plast on Friday said it has fixed the price band of Rs 62-66 per share for its Rs 35.44 crore initial public offering, which will hit the capital market on August 4.

The SME issue will close on August 6, and the company's shares will be listed on the NSE's Emerge platform.

The Initial Public Offering (IPO) comprises a fresh issue of 43.20 lakh equity shares and an Offer for Sale of 10.5 lakh shares by existing shareholders, the company said in a statement.

The company has fixed the price at Rs 62 to 66 per share for the IPO of 53.70 lakh equity shares, it said.

The company has proposed to use the IPO proceeds to fund a new manufacturing unit at MIDC Mahad, a solar power plant, loan repayment and general corporate purposes.

Jyoti Global Plast is engaged in the business of plastic and fibre-reinforced polymer (FRP) moulding, providing custom solutions for polymer-based products.

The company has recently forayed into defence and aerospace and has already secured an order book exceeding Rs 20 crore in the defence & aerospace segment, the statement said.

For the financial year 2024-25 ended March, the company reported a net profit of Rs 6.08 crore and revenue of Rs 93.48 crore.

Unistone Capital Pvt Ltd is the book-running lead manager of this issue.

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