SVJ Enterprises IPO: Last day to bid tomorrow. Check GMP, subscription status details

The initial public offering (IPO) of SVJ Enterprises Ltd opened for public subscription on Thursday, February 23, 2023, and the three day issue will conclude tomorrow i.e., Tuesday, Feb 28, 2023. The issue is priced at ₹36 per share.

As of 2:55 pm, the SVJ Enterprises IPO has been overall subscribed 0.58 times with 0.70 times in the retail category, and 0.47 times in the NII category, as per the exchanges data. The public issue is a SME IPO of 1,701,000 equity shares of the face value of ₹10, aggregating up to ₹6 crore.

As per market observers, SVJ Enterprises shares are commanding a discount of ₹-4 in the grey market today. The shares of the company are expected to list on the BSE SME platform next week on Thursday, March 9, 2023. The SME platform of the exchanges is intended for small and medium sized companies. First Overseas Capital Limited is the leading manager of the issue.

The finalisation of the basis of share allotment of the initial share sale is expected to take place on March 3, 2023 and if allotted, the credit of shares to demat account will happen on March 8, 2023. Bigshare Services Private Limited.

The company in its IPO papers had said that the net proceeds of the issue are proposed to be used for working capital requirements and general corporate purposes.

SVJ Enterprises Ltd manufactures disposable paper plates. They have the modern infrastructure to carry out all types of paper plate manufacturing, tailor-made to customer requirements as per international standards.

Before their current venture, SVJ Enterprise was involved in manufacturing, buying, supplying, importing, exporting and selling honey products, food grains etc. in India and abroad. Suresh Jha and Veena Jha are the Promoters of the company.