Jyoti Global Plast, a well-established manufacturer of plastic packaging solutions, is launching its IPO on August 4, 2025, aiming to raise ₹35.44 crore through a combination of Fresh Issue and Offer for Sale. The issue will remain open till August 6, 2025, with the allotment expected on August 7, 2025, and listing on NSE SME around August 11, 2025.

The IPO comprises a Fresh Issue of 43.20 lakh equity shares amounting to ₹28.51 crore, and an Offer for Sale of 10.50 lakh shares aggregating to ₹6.93 crore. The price band has been set at ₹62 to ₹66 per share, and at the upper price band, the market capitalisation of the company is estimated to be ₹130.81 crore.

The lot size is 2,000 shares, with a minimum investment of two lots (i.e., 4,000 shares) totalling ₹2,64,000 for individual retail investors. The issue is being managed by Unistone Capital Private Limited as the Book Running Lead Manager, with MUFG Intime India Private Limited as the Registrar and LFC Securities Private Limited acting as the Market Maker.

Business Overview

Jyoti Global Plast initially started by serving industries like FMCG, pharmaceuticals, and food & beverages. Known for its durable and cost-effective packaging, it has diversified into advanced plastic molding, expanding its capabilities and clientele.

The company is promoted by Bhawanji Shah, Deven Shah, and Hiren Shah. Bhawanji Shah started his journey in 1990 with Jyoti Industries and co-founded Jyoti Polycontainers in 2004 with the other promoters. Deven Shah serves as CEO and Whole Time Director, Hiren Shah as Managing Director, and other key promoters include Karan Deven Shah (CFO) and Sainyum Hiren Shah (Sales and Marketing Head).

Financial Performance

The company has shown consistent financial growth:

• Revenue from operations:

  • FY25: ₹9,379.79 lakh

  • FY24: ₹8,796.41 lakh

  • FY23: ₹8,935.45 lakh

• EBITDA:

  • FY25: ₹1,212.35 lakh

  • FY24: ₹862.30 lakh

  • FY23: ₹626.52 lakh

• Profit after Tax:

  • FY25: ₹608.06 lakh

  • FY24: ₹361.53 lakh

  • FY23: ₹232.36 lakh

Key metrics from FY24 include:

• Pre-issue EPS: ₹3.92

• Post-issue EPS: ₹3.07

• Pre-issue P/E: 16.83x

• Post-issue P/E: 21.51x

• Industry P/E: 24x

• ROCE: 22.35%

• ROE: 33.22%

• RoNW: 28.49%

These figures suggest a fair valuation for the IPO when compared to industry peers.

IPO Objectives

The Net Proceeds from the Fresh Issue will be used as follows:

1. ₹1,116.88 lakh for establishing a new manufacturing facility in Mahad, Raigad, Maharashtra

2. ₹899.53 lakh for capital expenditure to set up a Solar Power Plant

3. ₹120.00 lakh to repay or prepay borrowings

4. Remaining for general corporate purposes

Anchor Investment

Before the IPO opened, Jyoti Global Plast successfully raised ₹10.06 crore from Anchor Investors by allocating 15.24 lakh equity shares at ₹66 per share in consultation with the Book Running Lead Manager. This allocation came from the QIB reservation quota.

Grey Market Premium (GMP) and Listing Outlook

As of 29 July 2025, the Grey Market Premium (GMP) is reported to be ₹0, showing no premium or discount. This lack of interest suggests muted listing expectations, and therefore, the GMP does not indicate positive price discovery at this stage.

It’s important to note that GMP trading is unofficial, unregulated, and based purely on demand and supply. Thus, relying on it for investment decisions is not recommended.

Subscription Status and Allotment

• IPO subscription opens on August 4, 2025 and ends on August 6, 2025.

• The allotment is expected to be finalized on August 7, 2025.

• Investors can check their allotment status by visiting the registrar’s website and entering their PAN, DP ID, or Application Number.

Here’s how to check the Jyoti Global Plast IPO Allotment:

1. Go to the IPO allotment section of the registrar website

2. Select Jyoti Global Plast Limited IPO from the list

3. Enter your application number, PAN, or DP ID

4. Submit to view your allotment status

GMP Trend Chart

Conclusion: Should You Invest?

While Jyoti Global Plast has solid financials, strong promoter background, and fair pricing compared to peers, the GMP is flat. This, combined with the lack of visible listing gains, makes the IPO less attractive for short-term investors.

Given the low excitement in grey market, listing gain seekers may avoid. However, long-term investors who believe in the plastic packaging growth story and Jyoti’s expansion plans could consider with caution, especially if allotted at the lower band.

Disclaimer
This article is for educational and informational purposes only and does not constitute financial advice. Investment decisions should be based on individual risk tolerance and consultation with SEBI-registered advisors. Market conditions are volatile and subject to change. Neither the author nor the platform is responsible for losses arising from use of this information.

The Upcoming IPOs in this week and coming weeks are BLT Logistics, Bhadora Industries, Highway Infrastructure, Parth Electricals & Engineering, Jyoti Global Plast, Essex Marine, Aaradhya Disposal Industries.

The Current active IPO are Flysbs Aviation, Cash Ur Drive Marketing, Renol Polychem, B.D. Industries (Pune), NSDL, Takyon Networks, Mehul Colours, M&B Engineering, Sri Lotus Developers & Realty.

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