PPE manufacturer Jiwanram Sheoduttrai Industries gets NSE approval for its SME IPO

• Jiwanram Sheoduttrai Industries has received a nod from NSE SME for its IPO.
• The company aims to raise funds by offering fresh equity shares of 74,22,000.
• The company is a manufacturer of personal protective equipment (PPE).

Jiwanram Sheoduttrai Industries (JSIL) has received approval for its small and medium enterprise (SME) initial public offering (IPO) from NSE SME on August 29, 2023. Affinity Global Capital Market is the merchant banker for the IPO.

JSIL is a dominant player in the domestic and global personal protective equipment (PPE) industry. It has been producing PPEs since 1997.

The company is led by promoter Alok Prakash; the managing director Anupama Prakash, and the chief financial officer Gyan Prakash.

Completely fresh issue

The company aims to raise the funds by a fresh issue of 74,22,000 equity shares. The funds raised will be used towards funding working capital, prepayment and repayment of all or a portion of certain unsecured loan; and general corporate purpose.

From industrial safety gloves to PPE

The company began its journey by producing industrial safety gloves and has expanded its business over the years to the industrial garment industry. It has three manufacturing facilities that cover India and ten other countries.

The company initially began with exporting PPEs to the United States, Spain, Germany, and Belgium. It now exports to twenty countries, including regions in Europe and the Middle East.

The company currently enjoys a margin of 9.5%, earning a profit after tax of ₹4 crore on a turnover of ₹42 crore.

The company has registered with the Government e- Marketplace (GeM) under the Quality Council of India as an Original Equipment Manufacturer (OEM). With this, the company intends to strengthen its position in the domestic market.

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