Last day to subscribe to SJS Enterprises’ IPO; grey market premium at ₹25

• One of the leading players in the Indian decorative aesthetics industry is looking to raise ₹800 crore through the public listing of shares.
• The company is selling its shares in the range of ₹531 to ₹542 per share.
• The grey market premium of the company’s shares show a premium of ₹25 from the higher end of the price band.
• You can easily apply to the IPOs via mobile applications of new age investment platforms like Zerodha, Paytm, Upstox and others.

Today (November 3) is the last to subscribe to SJS Enterprises, which has launched its initial public offering (IPO) along with two other companies -- PolicyBazaar and Sigachi Industries.

The IPO of SJS Enterprises has been subscribed 50% by investors in the first two days of the IPO bidding process. Meanwhile, retail investors have fully subscribed the shares reserved for them.

Overall, investors have bid for 53.87 lakh shares as against 1.05 crore shares open for subscription.

The price band of the IPO is set at ₹531 - 542 per share. The grey market premium of the company’s shares show a premium of ₹25 from the higher end of the price band.

SJS Enterprises, one of the leading players in the Indian decorative aesthetics products like decals and body graphics, 2D appliques and dials, 3D appliques and dials, 3D lux badges, domes and many others, will also open its IPO alongside PolicyBazaar and Sigachi Industries on November 1.

The IPO consists of a pure offer for sale of ₹800 crore with ₹710 crore by Evergraph Holdings Pte -- subsidiary of private equity firm Everstone who invested in 2015 and ₹90 crore by KA Joseph KA Joseph, managing director of the company.

Currently, Evergraph Holdings and KA Joseph hold 77.86% and 20.74% stake in the company, respectively.

It also manufactures a wide range of aesthetics products that cater to the requirements of the commercial vehicles, medical devices, farm equipment and sanitary ware industries. The company's manufacturing facilities are located in Bengaluru and Pune.

ICICIdirect gave a ‘subscribe’ rating to the IPO citing the company’s collaboration with Suzuki to design and develop graphics for Swift, Ertiga and WagonR models. SJS has also previously worked with Honda Motorcycle, Royal Enfield, TVS Motors, Eureka Forbes, Bajaj Auto and Whirlpool. “We believe SJS offers a unique play on vehicular premiumisation given its status as a leading aesthetics player with proven capabilities,” said ICICIdirect.

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