Jetmall Spices and Masala Limited IPO – All you need to know
Jetmall Spices and Masala Limited is engaged in the trading and marketing activities of spices, food products, masalas, and dry fruits. It has filed papers with the market regulator SEBI for an SME IPO of up to 24.90 lakh equity shares. The company has set the IPO date as well as the price range at which the shares will be offered for sale. Let’s take a peek at the particulars of the Jetmall Spices and Masala Limited Ltd IPO.
Jetmall Spices and Masala Limited IPO Date & Price Band
| IPO Open: | 31 March 2021 |
| IPO Close: | 07 April 2021 |
| Issue Type | Fixed Price Issue IPO |
| IPO Size: | Approx ₹4.98 Crore |
| Face Value: | ₹10 Per Equity Share |
| Price Band: | ₹20 Per Share |
| Listing on: | BSE SME |
| Retail Portion: | 50% |
| Equity: | 24,90,000 Shares |
Jetmall Spices and Masala Limited IPO Market Lot
| Minimum Lot Size: | Minimum 6000 Shares |
| Minimum Amount: | ₹1,20,000 |
| Minimum Lot Size: | Maximum 6000 Shares |
| Minimum Amount: | ₹1,20,000 |
Jetmall Spices and Masala Limited IPO Allotment & Listing
| Basis of Allotment: | 12 April 2021 |
| Refunds: | 12 April 2021 |
| Credit to Demat Account: | 15 April 2021 |
| Listing Date: | 19 April 2021 |
Financials of Jetmall Spices and Masala Limited
| Particulars | 30-Sept-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 |
| Total Assets (in ₹millions) | 602.24 | 885.35 | 1,988.59 | 1,738.16 |
| Total Revenue (in ₹millions) | 925.90 | 3,915.62 | 4,344.54 | 5,032.61 |
| Profit After Tax (in ₹millions) | 64.92 | 14.77 | 17.61 | 25.62 |
About Jetmall Spices & Masala Limited
Jetmall Spices & Masala Limited was established in 1947 and has 72 years of experience in the spice and masala industry. The company was founded in the state of Tamil Nadu, Chennai, on September 6, 2012, under the name and style of ‘Jetmall Spices & Masala Private Limited,’ and changed its name to ‘Jetmall Spices & Masala Limited’ on January 29, 2020.
Jetmall Spices & Masala Limited was established to trade and sell food products such as ready-to-eat foods, food ingredients, ready-to-cook foods, food grains, dry fruits, spices, nuts and processed foods. It imports spices and supplies them in bulk quantities to India. The majority of the company’s imports come from Vietnam, Sri Lanka, and Indonesia, etc.
The company primarily operates on a B2B model, in which it retains stocks and distributes them to various institutional parties such as masala producers, exporters, and so on.
Objective of the Issue:
The company plans to use the funds from the IPO for the following purposes:
- Expansion of the company through the launch of ten new retail outlets.
- Some of the funds would be used to meet the company’s working capital needs.
- Meeting the costs of the issue.
- A portion of the funds collected would be used for general corporate purposes.