SJS Enterprises IPO opens on November 1, price band at Rs 531-542 a share

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SJS Enterprises, one of the leading players in the Indian decorative aesthetics products industry, has fixed November 1 as the opening date for its initial public offering (IPO) at a price band of Rs 531-542 per share.

The Rs 800-crore IPO is entirely an offer for sale of Rs 710 crore by Evergraph Holdings Pte Ltd and Rs 90 crore by KA Joseph.

The issue will close on November 3. The minimum bid lot size has been set at 27 shares and in multiples of 27 shares thereafter.

Retail investors can bid for a minimum Rs 14,634 worth of shares and the maximum investment by them would be worth Rs 1,90,242 at the upper price band.

Half of the offer has been reserved for qualified institutional buyers including anchor investors for whom the issue will be opened for a day on October 29. Of the total offer, 15 percent is reserved for non-institutional bidders and the remaining 35 percent for retail investors.

SJS Enterprises is one of the leading players in the Indian decorative aesthetics products industry in terms of revenue in FY20 and FY21, offering the widest range of aesthetics products primarily in the automotive and consumer appliance industries. The company supplied over 115 million parts with more than 6,000 SKUs (stock-keeping units) in FY21 to around 170 customers in approximately 90 cities across 20 countries.

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Its key customer base includes well-known automotive original equipment manufacturers such as Suzuki Motorcycle India, Mahindra & Mahindra, John Deere India, Skoda Auto Volkswagen India, Honda Motorcycle and Scooter India, Bajaj Auto, and Royal Enfield. It also supplies products to Tier-1 automotive component suppliers such as Marelli UM Electronic Systems, Visteon, Brembo, and Mindarika.

Apart from that, it also provides products to consumer durables/appliances manufacturers such as Whirlpool, Panasonic India, Samsung India Electronics, Eureka Forbes, Godrej & Boyce Manufacturing Company, and Liebherr India Manufacturing.

Axis Capital, Edelweiss Financial Services and IIFL Securities are acting as the book-running lead managers to the issue.