Jyoti Global Plast Limited, a well-known player in the plastic packaging solutions industry, has launched its Initial Public Offering (IPO) on the NSE SME platform with a total issue size of ₹35.44 Crores. This IPO consists of a Fresh Issue of 43.20 lakh shares worth ₹28.51 Crores and an Offer for Sale (OFS) of 10.50 lakh shares aggregating to ₹6.93 Crores. The IPO is live for subscription from August 04 to August 06, 2025, and shares are expected to be listed on or around August 11, 2025.

The price band is fixed at ₹62 to ₹66 per equity share, and the minimum lot size for retail investors is 2,000 shares, requiring a minimum investment of ₹2,64,000.

Company Overview

Jyoti Global Plast started its journey by offering durable and cost-effective plastic packaging to a wide range of sectors such as FMCG, pharmaceuticals, and food & beverages. Over the years, the company has gained trust for its high precision manufacturing and quality-centric innovation. The adoption of advanced molding techniques has helped it grow beyond traditional packaging.

The company is promoted by Bhawanji Shah, Deven Shah, and Hiren Shah. Bhawanji Shah, an industry veteran, began with Jyoti Industries in 1990 and later expanded into Jyoti Polycontainers. The current management team, including Deven Shah as CEO and Hiren Shah as MD, brings solid domain experience to scale operations. Karan Deven Shah and Sainyum Hiren Shah also serve as senior executives in finance and marketing.

IPO Objectives

The company has clearly outlined its use of net proceeds from the IPO. Here are the main objectives:

• ₹1,116.88 Lakh will be used to partly finance the new manufacturing facility at MIDC, Mahad, Maharashtra.

• ₹899.53 Lakh will go into capital expenditure for a solar power plant, promoting sustainable production.

• ₹120.00 Lakh is earmarked for debt repayment or prepayment to reduce interest burdens.

• The remaining funds will be allocated to general corporate purposes.

Subscription Status and Anchor Investment

As of 11:30 AM on August 4, 2025, the IPO was subscribed 0.38 times, indicating a lukewarm response on the first day. However, anchor investors have shown confidence, subscribing to 15,24,000 shares and investing ₹10.06 Crores at the upper end of the price band, i.e., ₹66 per share.

The shares allotted to anchor investors are part of the Qualified Institutional Buyers (QIBs) quota, as per regulatory guidelines.

Grey Market Premium (GMP)

The Grey Market Premium (GMP) of Jyoti Global Plast IPO is currently at ₹0, suggesting no listing gains are expected. GMP values are unofficial and indicate investor sentiment in the unregulated grey market. While GMP can offer a hint at market mood, it is not a reliable pricing tool.

Financial Performance

Over the past three financial years, Jyoti Global Plast has shown consistent and steady growth:

• Revenue:

  • FY23: ₹8,935.45 Lakh

  • FY24: ₹8,796.41 Lakh

  • FY25: ₹9,379.79 Lakh

• EBITDA:

  • FY23: ₹626.52 Lakh

  • FY24: ₹862.30 Lakh

  • FY25: ₹1,212.35 Lakh

• Profit After Tax (PAT):

  • FY23: ₹232.36 Lakh

  • FY24: ₹361.53 Lakh

  • FY25: ₹608.06 Lakh

This trend shows profit margins are improving and the bottom line is strengthening, making it financially sound.

Valuation Metrics

From the IPO documents, the valuation of Jyoti Global Plast shows:

• Pre-Issue EPS (FY24): ₹3.92

• Post-Issue EPS (FY24): ₹3.07

• Pre-Issue P/E Ratio: 16.83x

• Post-Issue P/E Ratio: 21.51x

• Industry P/E Ratio: 24x

The company’s ROCE (Return on Capital Employed) for FY24 is 22.35%, ROE (Return on Equity) is 33.22%, and RoNW (Return on Net Worth) is 28.49%. These figures show that the IPO is fairly priced, though not undervalued.

Allotment and Listing

• Allotment Date: August 07, 2025

• Expected Listing Date: August 11, 2025

• Registrar: MUFG Intime India Pvt. Ltd.

• Lead Manager: Unistone Capital Pvt. Ltd.

• Market Maker: L.F.C. Securities Pvt. Ltd.

Investors can check their allotment status online by visiting the registrar’s website. By entering details like PAN, application number, or DP ID, they can quickly view the allotment status.

GMP Trends

The GMP has remained flat across the final week of July, giving no indication of speculative listing gains.

Risk Factors and Market Sentiment

While the financials of the company show a positive growth trend, the muted response in the grey market, along with a flat listing premium, poses a cautionary sign for short-term investors. If the broader market remains volatile, it may affect Jyoti Global Plast’s debut on the exchange.

Expert Recommendation

Given the steady growth, experienced promoters, and decent profitability, the long-term outlook for Jyoti Global Plast seems promising. However, with zero GMP and limited listing gain visibility, short-term investors looking for quick profits should avoid subscribing solely for listing gains.

Long-term investors may still consider subscribing if their focus is on growth potential in the plastic packaging industry, particularly as Jyoti aims to enter renewable energy integration via its solar plant expansion.

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 ConnPlex Cinemas, ALL Time Plastics, JSW Cement, Sawaliya Foods Products, ANB Metal Cast, Highway Infrastructure.

The Current active IPO are Parth Electricals & Engineering, Jyoti Global Plast, Essex Marine, Aaradhya Disposal Industries, BLT Logistics, Bhadora Industries, Flysbs Aviation, Cash Ur Drive Marketing, Renol Polychem.

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