Jeyyam Global Foods Ltd to Launch IPO, Aiming for Expansion

Jeyyam Global Foods Ltd is set to launch its Initial Public Offering (IPO) on September 2, aiming to raise Rs 80-82 crore for expansion. The funds will support B2C market foray, capital expenditure, and product portfolio diversification. Key developments include new manufacturing units and enhanced production capacities.

Jeyyam Global Foods Ltd, a leading manufacturer and supplier of Bengal gram (Channa) and fried gram, has announced the launch of its Initial Public Offering (IPO) on September 2. The company aims to raise between Rs 80 to Rs 82 crore to support its ambitious expansion plans.

According to Group member Shrreyans Mehta, the funds will be prioritized for entering the business-to-consumer (B2C) segments, undertaking capital expenditures, and broadening the product range. Mehta disclosed that procurement and processing efforts will be expanded across 99 clusters in India, complemented by the introduction of soya chunks and vermicelli.

The capital raised will facilitate the establishment of three new manufacturing units in Latur, Nanded, and Indore. In addition, the company plans to increase its fried gram production by 30% and enhance capacities for cleaning and grading Bengal grams. The IPO offer price is set between Rs 59 and Rs 61 per equity share, with significant funds allocated for capital expenditure and working capital needs.

(With inputs from agencies.)