Established in 1988, Jay Bee Laminations Limited, currently manufactures and supplies range of products such as electrical laminations, slit coils, and assembled cores made of Cold Rolled Grain Oriented Silicon steel and Cold-Rolled Non-Grain Oriented Steel for applications in transformers, UPS, and inverters, for end-use in power industry.

Jay Bee, an Book Built Issue amounting to ₹66.72 Crores, consisting entirely a Fresh Issue of 45.7 Lakh Shares worth ₹66.72 Crores and an Offer for Sale of 15.23 Lakh Shares totaling to ₹22.23 Crores. The subscription period for the Jay Bee IPO opens on August 27, 2024, and closes on August 29, 2024. The allotment is expected to be finalized on or about Friday, August 30, 2024, and the shares will be listed on the NSE SME with a tentative listing date set on or about Tuesday, September 03, 2024.

The Share price band of Jay Bee IPO is set at ₹138 to ₹146 equity per share, with a minimum lot size of 1,000 shares. Retail investors are required to invest a minimum of ₹146,000, while the minimum investment for High-Net-Worth Individuals (HNIs) is 2 lots (2,000 shares), amounting to ₹292,000.

SWARAJ SHARES AND SECURITIES PRIVATE LIMITED is the book-running lead manager, BIGSHARE SERVICES PRIVATE LIMITED is the registrar for the Issue. Shreni Shares Limited will act as the Market Maker for the Jay Bee IPO.

Jay Bee Laminations Limited IPO GMP Today
The Grey Market Premium of Jay Bee Limited IPO is expected in the range of ₹100 to ₹110 based on the financial performance and subscription status of the company. No real trading is done on the basis of Grey Market Premium that's why no real discovery of price can be done before the listing of shares on the stock exchange. The Grey Market Premium totally depends upon the Demand and Supply of the shares of the company in unorganized manner which is not recommended. The Grey Market Premium is mentioned for educational and informational purposes only.

Jay Bee Laminations Limited IPO Allotment Status
Jay Bee IPO allotment date is 30 August, 2024, Friday. Jay Bee IPO Allotment will be out on 30th August 2024 and will be live on Registrar Website from the allotment date. Check Jay Bee Limited IPO Allotment Status here. Here's how you can check the allotment status:
- Navigate to the IPO allotment status page.
- Select Jay Bee Limited IPO from the dropdown list of IPOs.
- Enter your application number, PAN, or DP Client ID.
- Submit the details to check your allotment status.
By following either of these methods, investors can quickly determine their allotment status and proceed accordingly with their investments.

Objectives of Jay Bee Laminations Limited IPO
Jay Bee Issue Proceeds from the Fresh Issue will be utilized towards the following objects : 
1) ₹4,300.00 Lakhs is required for Funding our working capital requirements
2) General Corporate Expenses

Refer to Jay Bee Laminations Limited RHP for more details about the Company.

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About Jay Bee Laminations Limited

Established in 1988, Jay Bee Laminations Limited, currently manufactures and supplies range of products such as electrical laminations, slit coils, and assembled cores made of Cold Rolled Grain Oriented Silicon steel and Cold-Rolled Non-GrainOriented Steel for applications in transformers, UPS, and inverters, for end-use in power industry.

The Company’s manufacturing units are equipped with all in-house facilities for slitting, cutting, assembling, and testing of CRGO and CRNGO electrical steel cores spread across total area of 10,878 sq mt. They also have their in-house laboratory for raw material and finished goods sample testing and in-house tooling division for blade sharpening. Their production facilities emphasize on processing and manufacturing electrical steel cores to meet the quality standards of power and distribution transformers. Their current facilities are well equipped to serve customer manufacturing transformers up to 220 kV class. Further, they have used 83% of their installed capacity as on March 31, 2024.

Presently, the Company’s main focus is on supplying CRGO electrical steel cores to transformer manufacturers. These materials necessitate a high level of expertise in manufacturing, handling, and processing due to their sensitivity to physical stresses and jerks, which is vital for ensuring the safety and quality of transformers. Adhering to strict quality requirements, all transformer core-related raw materials imported, purchased, and sold in India must conform to the standards set by the Bureau of Indian Standards (BIS).

Their clientele encompasses manufacturers producing transformers in the range of 11kVto 220 kV class, spanning Power and Distribution transformers. The quality of these transformers relies significantly on the raw materials used in their manufacturing, with the CRGO steel core accounting for 25-30% of the transformer’s total cost depending on the size of the transformer. Additionally, the core plays a crucial role in reducing transmission and distribution (T&D) losses within the electricity supply infrastructure, highlighting its pivotal significance in the realm of power distribution.

Indian Manufacturing Industry
Manufacturing is emerging as an integral pillar in the country’s economic growth, thanks to the performance of key sectors like automotive, engineering, chemicals, pharmaceuticals, and consumer durables. The Indian manufacturing industry generated 16-17% of India’s GDP pre-pandemic and is projected to be one of the fastest growing sectors. 

The machine tool industry was literally the nuts and bolts of the manufacturing industry in India. Today, technology has stimulated innovation with digital transformation a key aspect in gaining an edge in this highly competitive market. 

Technology has today encouraged creativity, with digital transformation being a critical element in gaining an advantage in this increasingly competitive industry. The Indian manufacturing sector is steadily moving toward more automated and process-driven manufacturing, which is projected to improve efficiency and enhance productivity. 
India has the capacity to export goods worth US$ 1 trillion by 2030 and is on the road to becoming a major global manufacturing hub. 

With 17% of the nation’s GDP and over 27.3 million workers, the manufacturing sector plays a significant role in the Indian economy. Through the implementation of different programmer and policies, the Indian government hopes to have 25% of the economy’s output come from manufacturing by 2025. 

India now has the physical and digital infrastructure to raise the share of the manufacturing sector in the economy and make a realistic bid to be an important player in global supply chains. 

A globally competitive manufacturing sector is India's greatest potential to drive economic growth and job creation this decade. Due to factors like power growth, long-term employment prospects, and skill routes for millions of people, India has a significant potential to engage in international markets. Several factors contribute to their potential. First off, these value chains are well positioned to benefit from India's advantages in terms of raw materials, industrial expertise, and entrepreneurship.

Second, they can take advantage of four market opportunities: expanding exports, localizing imports, internal demand, and contract manufacturing. With digital transformation being a crucial component in achieving an advantage in this fiercely competitive industry, technology has today sparked creativity. Manufacturing sector in India is gradually shifting to a more automated and process driven manufacturing which is expected to increase the efficiency and boost production of the manufacturing industry. 

India is gradually progressing on the road to Industry 4.0 through the Government of India’s initiatives like the National Manufacturing Policy which aims to increase the share of manufacturing in GDP to 25 percent by 2025 and the PLI scheme for manufacturing which was launched in 2022 to develop the core manufacturing sector at par with global manufacturing standards. 

Manufacturing has emerged as one of the high growth sectors in India. Prime Minister of India, Mr. Narendra Modi, launched the ‘Make in India’ program to place India on the world map as a manufacturing hub and give global recognition to the Indian economy. Government aims to create 100 million new jobs in the sector by 2022.

Manufacturing exports have registered highest ever annual exports of US$ 447.46 billion with 6.03% growth during FY23 surpassing the previous year (FY22) record exports of US$ 422 billion. By 2030, Indian middle class is expected to have the second-largest share in global consumption at 17%.

India’s gross domestic product (GDP) at current prices stood at Rs. 51.23 lakh crore (US$ 694.93 billion) in the first quarter of FY22, as per the provisional estimates of gross domestic product for the first quarter of 2021-22. The manufacturing GVA at current prices was estimated at US$ 77.47 billion in the third quarter of FY22 and has contributed around 16.3% to the nominal GVA of during the past ten years. India has potential to become a global manufacturing hub and by 2030, it can add more than US$ 500 billion annually to the global economy. As per the economic survey reports, estimated employment in manufacturing sector in India was 5.7 crore in 2017-18, 6.12 crore in 2018-19 which was further increased to 6.24 crore in 2019-20. India's display panel market is estimated to grow from ~US$ 7 billion in 2021 to US$ 15 billion in 2025. As per the survey conducted by the Federation of Indian Chambers of Commerce and Industry (FICCI), capacity utilization in India’s manufacturing sector stood at 72.0% in the second quarter of FY22, indicating significant recovery in the sector.

India is an attractive hub for foreign investments in the manufacturing sector. Several mobile phone, luxury, and automobile brands, among others, have set up or are looking to establish their manufacturing bases in the country. The manufacturing sector of India has the potential to reach US$ 1 trillion by 2025. The implementation of the Goods and Services Tax (GST) will make India a common market with a GDP of US$ 2.5 trillion along with a population of 1.32 billion people, which will be a big draw for investors. The Indian Cellular and Electronics Association (ICEA) predicts that India has the potential to scale up its cumulative laptop and tablet manufacturing capacity to US$ 100 billion by 2025 through policy interventions. One of the initiatives by the Government of India's Ministry for Heavy Industries & Public Enterprises is SAMARTH Udyog Bharat 4.0, or SAMARTH Advanced Manufacturing and Rapid Transformation Hubs. This is expected to increase competitiveness of the manufacturing sector in the capital goods market. With impetus on developing industrial corridors and smart cities, the Government aims to ensure holistic development of the nation. The corridors would further assist in integrating, monitoring, and developing a conducive environment for the industrial development and will promote advance practices in manufacturing.

Indian Power And Distribution Industry
Electricity distribution companies (DISCOMs) are the backbone of the country’s power sector. Their poor financial health can have a ripple effect on the efficient functioning of the electricity generation and transmission sector. For India’s growth momentum to stay intact, the efficient functioning of all three is crucial. 

India is on a path of strong economic growth. According to International Monetary Fund (IMF) estimates, its gross domestic product (GDP) could grow by 6.3% in the fiscal year (FY) 2025. The Central Electricity Authority’s (CEA) Optimal Generation Mix report for 2029-30 projects a peak electricity demand of 334.8 gigawatts (GW) and electrical energy requirement of 2,279.7 billion units (BU) for 2029-30. To meet this demand, India needs to add 777.1GW of capacity, including 251.7GW of coal and lignite, 292.7GW of solar photovoltaic, 99.9GW of wind and 53.8GW of hydro. 

Given the uncertainty around DISCOMs being able to effectively cater to demand, Indian consumers, especially commercial and industrial (C&I), installed 77GW of captive installed capacity as of June 2022. Further, most residential consumers have backup power, which either runs on battery or diesel, adding to carbon emissions. In rural areas, people stack fuel like kerosene, solar home systems and solar pumps, in addition to the grid, to deal with erratic power supply. 

The political economy is critical in determining the electricity tariff, with most states providing subsidies to agricultural and residential consumers. However, these subsidies are poorly targeted, adding to the financial woes of DISCOMs. As on 31 March 2021, DISCOMs had accumulated a deficit of Rs5,166 billion (US$62.6 billion).

Indian Transformer And Distribution Industry
Distribution Transformers play a very important and vital role in delivering electricity to the last mile. It can be rightly said that the Distribution industry is bringing light in the life of the people. The thrust by the Indian Government to provide quality power to each village and every household through various schemes of electrification like DDUGJY/ IPDS/ RAPDRP/ Saubhagya has given a huge fillip to the demand of distribution transformers all over India. 

The demand of Distribution transformers is catered majorly by the domestic Industry and the import of transformers is very marginal/ project specific. The Industry is dominated by unorganized MSME units which are spread all over India and are mainly supplying to their state utilities. There are large scale units also which apart from having Pan India presence are also engaged in export of transformers. 

The transformers produced in India have been brought under mandatory BIS certification, resulting in standardization of the product, which has resulted in improvement of quality and reduction of failure of transformers. The distribution transformers have also been brought under mandatory BEE star labelling scheme which has resulted in the use of modern technology in manufacturing energy efficient transformers. 

The demand of distribution transformers will keep on increasing due to increase in generation capacity of both conventional and non-renewable sources due to increase in per capita consumption of electricity and new avenues like electric vehicle charging stations etc. The demand will also increase due to replacement of old transformers with energy efficient transformers. 

The challenges faced by the industry is the lack of mandatory guidelines for installation and maintenance of transformers, bad earthing practices, overloading of transformers, tampering/ bypassing the protection equipment, theft of material/ oil which leads to fire and failure of transformers. The payment position by the utilities, though has improved due to UDAY scheme and MSMED act, needs to be further streamlined.

JAY BEE LAMINATIONS LIMITED STRENGTHS
1. Well Established Brand with Targeted Sales and Marketing Initiatives
2. Strong Operational and Financial Performance
3. Experienced Promoters and Management Team
4. Long-standing client relationships
5. Quality assurance
6. Low Rejection Rates

JAY BEE LAMINATIONS LIMITED STRATEGIES
1. Focus on increasing their market share by expanding their manufacturing capacity at Unit-II
2. Targeting new products and customer segments

JAY BEE LAMINATIONS LIMITED RISK FACTORS & CONCERNS
1. The Compay currently operate two manufacturing facilities, located at Noida & Greater Noida and any slowdown or disruption in their manufacturing operations can affect their business.
2. Demand for their products is related to growth and trends of their end user industry.
3. Nearly majorly of their revenues from operations are derived on sales made within India.
4. A significant portion of their domestic sales (including supply to SEZ) is derived from the northern and southern region, and any adverse developments in this market could adversely affect their business.
5. The company has an in-house testing laboratory to conduct CRGO raw material sample testing and any failure can lead to loss in business.