SJS Enterprises IPO to open on Nov 1; price band set at Rs 531-542/share

The Rs 800-crore IPO is entirely an offer-for-sale of shares worth Rs 710 crore by Evergraph Holdings Pte Ltd and shares to the tune of Rs 90 crore by KA Joseph.

SJS Enterprises on Wednesday said it has fixed a price band of Rs 531-542 a share for its Rs 800-crore initial public offering, which will open on November 1.

The initial public offering (IPO) will conclude on November 3. The bidding for anchor investors will open on October 29, the company announced in a virtual press conference.

The Rs 800-crore IPO is entirely an offer-for-sale of shares worth Rs 710 crore by Evergraph Holdings Pte Ltd and shares to the tune of Rs 90 crore by KA Joseph.

At present, Evergraph Holdings and KA Joseph own 77.86 per cent and 20.74 per cent stake in the company, respectively.

The company will not receive any proceeds from the offer.

Half of the issue size has been reserved for qualified institutional buyers, 35 per cent for retail investors and the remaining 15 per cent for non-institutional investors.

SJS Enterprises is a leading player in the Indian decorative aesthetics industry offering the widest range of aesthetics products in the country.

It is a “design-to-delivery” aesthetics solutions provider with the ability to design, develop and manufacture a diverse product portfolio.

It caters to the requirements of the two-wheeler, passenger vehicle, commercial vehicle, consumer appliance, medical devices, farm equipment and sanitary ware industries.

According to the company website, its product offerings include decals and body graphics, 2D appliques and dials, 3D appliques and dials, 3D lux badges, domes, overlays, aluminium badges, in-mould label or in-mould decoration, lens mask assembly and chrome-plated, printed and painted injection moulded plastic parts.

Axis Capital, Edelweiss Financial Services and IIFL Securities are the book running lead managers to the issue. The equity shares of the company will be listed on the BSE and NSE.

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