New Delhi, Aug 11 (H.S.) – Plastic moulding solutions provider Jyoti Global Plast delivered a disappointing debut on the stock market today, leaving its IPO investors in the red. Issued at ₹66 per share under the IPO, the stock got listed on NSE’s SME platform at ₹65.90, a marginal decline of 10 paise from its issue price. However, post-listing, selling pressure dragged the stock down to ₹62.60, hitting the lower circuit within hours of trade. As a result, IPO investors saw a loss of 5.15% on the very first day.
Jyoti Global Plast’s ₹35.44 crore IPO was open for subscription from August 4 to 6 and received an average response from investors, being oversubscribed 8.45 times overall. The Qualified Institutional Buyers (QIB) portion was subscribed 1.86 times, the Non-Institutional Investors (NII) category saw 14.70 times subscription, while the Retail Investors’ portion was subscribed 9.54 times.
The IPO included fresh shares worth ₹28.51 crore and an Offer for Sale (OFS) of 10.50 lakh shares with a face value of ₹10 each. The proceeds will be utilised for setting up a new manufacturing facility, installing a solar power plant, repaying existing debt, and general corporate purposes.
As per the company’s prospectus, Jyoti Global Plast reported a net profit of ₹2.32 crore in FY 2022–23, which rose to ₹3.62 crore in FY 2023–24, and further jumped to ₹6.08 crore in FY 2024–25. During the same period, the company’s total revenue grew at a compound annual growth rate (CAGR) of over 2% to reach ₹93.80 crore.
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