Jivial Industries IPO
Grey Market Premium (GMP)
GMP applies before listing only. This IPO has listed — see Listing Performance below for the actual debut.
Subscription Status
| Category | Subscription |
|---|---|
| QIB | 0x |
| NII | 1.57x |
| Retail (RII) | 0.22x |
| Total | 0.93x |
Bidding day 3 · final figures at close of bidding: 15 Jul 2026, 12:00 am IST
IPO Details
- Open Date
- 23 Jun 2026
- Close Date
- 25 Jun 2026
- Listing Date
- 1 Jul 2026
- Face Value
- ₹10
- Fresh Issue
- ₹25.05 Cr
- OFS
- ₹5.34 Cr
- Listing On
- BSE
- Registrar
- —
Lot Size & Application Amounts
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 1,200 | ₹2,35,200 |
| HNI (Min) | 3 | 1,800 | ₹3,52,800 |
Issue Reservation
| Investor category | Shares offered | % of issue |
|---|---|---|
| NII | 7,75,200 | 50% |
| Retail | 7,75,200 | 50% |
| Total | 15,50,400 | 100% |
The anchor portion is carved out of the QIB quota. Percentages are of the total shares offered.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2023 | 8.4 | 1.17 | 1.42 | 1.53 | 2.16 | 0.18 | — |
| FY 2024 | 11.06 | 2.41 | 3.08 | 5.75 | 6.94 | 0.44 | — |
| FY 2025 | 12.07 | 2.97 | 3.75 | 8.72 | 10.25 | 0.38 | 8.98 |
| Dec 2025 (interim) | 12.2 | 2.95 | 3.76 | 11.66 | 14.11 | 1.23 | — |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March. Interim periods cover part of a year and are not comparable to the full-year rows.
KPIs & Valuation
- P/E (pre-issue)
- 21.83x
- P/E (post-issue)
- 23.29x
- RoNW
- 28.93%
- RoE
- 28.93%
- RoCE
- 33.14%
- Debt / Equity
- 0.04
- EPS (pre-issue)
- ₹8.98
- EPS (post-issue)
- ₹8.42
- EBITDA Margin
- 31.08%
- PAT Margin
- 24.33%
- P/BV
- 7.44x
- NAV / share
- ₹35.24
- Market Cap
- ₹91.52 Cr
As of 19 Dec 2025 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Objects of the Issue
| Purpose | Est. Amount |
|---|---|
| Purchase of new machineries | ₹14.4 Cr |
| Capital expenditure for renovation of manufacturing facility | ₹4 Cr |
| General Corporate Purposes | ₹3.99 Cr |
| Issue Expenses | ₹4.25 Cr |
Net-proceeds utilisation as disclosed in the offer document.
Issue Expenses
| Purpose | Est. Amount |
|---|---|
| Book Running Lead Manger Fees, Fees Payable to Registrar to the Issue, Fees Payable to Statutory Auditor, Legal Advisors | ₹0.37 Cr |
| Underwriting Commission, Brokerage and selling commission | ₹3.75 Cr |
| Fees Payable for Advertising and Publishing Expenses, Payment for Printing & Stationery, Postage, etc. | ₹0.04 Cr |
| Fees Payable to Regulators including Stock Exchanges | ₹0.05 Cr |
| Others (Commission/processing fee for SCSBs, Sponsor Bank and Banker(s) to the Issue and brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs and Miscellaneous Expenses) | ₹0.05 Cr |
Promoters & Shareholding
Promoters: Anand Jitendrabhai Chovatiya and Sheetalben Anand Chovatiya
- Holding (pre-issue)
- 94.53%
- Holding (post-issue)
- 61.16%
- Dilution
- 33.37%
Documents
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | P/BV | Statements |
|---|---|---|---|---|---|---|
| Jivial Industries | 8.98 | 26.33 | 21.83x | 41.09% | 7.54x | Restated |
| Anb Metal Cast Limited | 20.15 | 83.09 | 24.86x | 32.44% | 6.04x | Standalone |
| Euro Panel Products Ltd | 11.1 | 65.61 | 16.05x | 18.5% | 2.74x | Standalone |
| Sudal Industries Ltd | -1.08 | 28.48 | — | 2.39% | 1.39x | Standalone |
Peer group as disclosed in the offer document, figures as of 31 Mar 2025. The issuer’s P/E is computed at the upper price band.
Lead Managers (BRLMs)
Tap a lead manager to see every IPO it has run and how those listings fared.
Listing Performance
About the Jivial Industries IPO
The Jivial Industries SME IPO runs from 23 Jun 2026 to 25 Jun 2026, offered at an issue price of ₹196 per share, and is set to list on BSE. The company is looking to raise ₹31.99 crore through the offer. Retail investors bid in lots of 600 shares, a minimum application of ₹2,35,200.
Issue structure
The offer combines a fresh issue of ₹25.05 crore with an offer for sale (OFS) of ₹5.34 crore by existing shareholders. Money raised through the fresh issue goes to the company for its stated objects, while OFS proceeds go to the selling shareholders rather than the business.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward purchase of new machineries (₹14.4 crore), alongside issue expenses (₹4.25 crore). In all, 4 objects are disclosed — the full break-up is in the table above.
Financials
In FY2025, Jivial Industries reported revenue of ₹12.2 crore and a net profit of ₹2.95 crore. Revenue grew from ₹8.4 crore in FY2023 to ₹12.2 crore in FY2025 (+45.0%). Net worth stood at ₹11.66 crore at the end of FY2025.
Valuation
At the upper band, the issue is priced at 23.29× post-issue earnings and 7.44× book value, against a return on net worth of 28.93% and a debt-to-equity ratio of 0.04. These ratios come from the offer document and are for comparison, not a recommendation.
Peer comparison
The offer document names listed peers including Anb Metal Cast Limited and Euro Panel Products Ltd, with a median peer P/E of about 20.5×. The issue's own post-issue P/E works out to 23.29×.
Promoters
The promoters of the company are Anand Jitendrabhai Chovatiya and Sheetalben Anand Chovatiya. Promoter holding stands at 94.53% before the issue and comes down to 61.16% after listing.
Grey market premium (GMP)
In the unofficial grey market, Jivial Industries shares are quoted at a premium of ₹0 implying an expected listing around ₹196, about +0.0% over the upper band. Grey market premium is a sentiment indicator set by private dealers, not the company or the exchange — it moves quickly and is not a reliable predictor of the actual listing price.
Subscription
The Jivial Industries IPO was subscribed 0.93 times overall. The strongest demand came from non-institutional investors (NII) at 1.57 times, with qualified institutional buyers (QIB) at 0× and retail investors at 0.22×.
Listing performance
Jivial Industries listed on 1 Jul 2026 at ₹156.8, a discount of -20.0% over the issue price of ₹196.
What to weigh
When evaluating the Jivial Industries IPO, the data points most investors look at are the fresh-issue-versus-OFS split, the revenue and profitability trend, subscription demand across investor categories and the grey market premium. Grey market premium and subscription figures reflect short-term sentiment rather than long-term fundamentals; the figures on this page are for information only and are not investment advice.
About Jivial Industries
Incorporated in 2021, Jivial Industries Limited is engaged in the manufacturing of finished aluminium railings and fixtures from unfinished extruded aluminium railings and unfinished aluminium castings. They manufacture majorly two types of railings; (i) Continous Profiles, used for holding the glass at the bottom and; (ii) Handrails for holding the glass at the top along with design for hand support. Products: Aluminium Hand Railings Aluminum railing Aluminum Spigots Aluminium Conceal Aluminium Bend As of August 31, 2025, the company has 18 full-time permanent employees. Business Strengths: Strong Brand reputation Strong financials Strong Customer Base Experienced Management
Jivial Industries — Contact Details
- Registered office
- Shade No.A1/5, Road C, Beside Daynamatic Forge, AJI GIDC, Rajkot, AJI Industrial Estate, Rajkot, Gujarat, 360003
- Phone
- +91-8469022953
- Website
- www.jivialrailings.com/
- Registrar (IPO queries)
- ipo@bigshareonline.com
Frequently asked questions
- What is the Jivial Industries IPO price band?
- The Jivial Industries IPO price band is ₹196 per share, with a lot size of 600 shares.
- What was the Jivial Industries IPO GMP before listing?
- The final grey market premium recorded before the Jivial Industries IPO listed was ₹0. The IPO listed on 1 Jul 2026 at ₹156.8, -20.0% against the issue price. GMP is an unofficial figure and was never a guarantee of the listing price.
- When does the Jivial Industries IPO open and close?
- The Jivial Industries IPO opens on 23 Jun 2026 and closes on 25 Jun 2026.
- When is the Jivial Industries IPO allotment and listing date?
- Allotment is expected on 29 Jun 2026. The shares are scheduled to list on 1 Jul 2026 on BSE.
- How many times was the Jivial Industries IPO subscribed?
- The Jivial Industries IPO was subscribed 0.93 times in total across all investor categories.
- What is the reservation split in the Jivial Industries IPO?
- Of the total shares offered, retail investors get 50%, non-institutional investors 50%. The full category-wise break-up is in the Issue Reservation table on this page.
- Who are the promoters of Jivial Industries and what is their holding?
- The promoters are Anand Jitendrabhai Chovatiya and Sheetalben Anand Chovatiya. Promoter holding is 94.53% before the issue and 61.16% after listing.
- What is the P/E ratio of the Jivial Industries IPO?
- At the upper price band, the Jivial Industries IPO is valued at 21.83× pre-issue earnings and 23.29× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Jivial Industries IPO?
- The net proceeds go primarily toward purchase of new machineries, among 4 disclosed objects. See the Objects of the Issue table for the full break-up.
- Who are the lead managers and registrar of the Jivial Industries IPO?
- The book-running lead manager is Corporate Makers Capital Ltd..
- Is Jivial Industries a Mainboard or SME IPO?
- Jivial Industries is an SME IPO, listing on BSE (SME platform).