Jyoti Global Plast shares off to a muted start on NSE SME platform

Jyoti Global Plast shares listed with a 0.15% discount at Rs 65.9 on the NSE SME platform on Monday.

The IPO, which ran from August 4 to August 6, comprised a fresh issue of 43.20 lakh shares worth Rs 28.51 crore and an offer for sale of 10.50 lakh shares worth Rs 6.93 crore.

The issue was subscribed 8.45 times overall, with the non-institutional investor (NII) segment leading the demand at 14.70 times. Retail investors subscribed 9.54 times their allotted quota, while the qualified institutional buyers (QIB) portion was booked 1.86 times.

Mumbai-based Jyoti Global Plast specialises in plastic moulding solutions for industries such as pharmaceuticals, chemicals, food and beverages, lubricants, adhesives, automotive, and childcare.

Its product portfolio includes HDPE and PP-based packaging containers like drums, jerrycans, barrels, pails, bottles, as well as automotive components, toys, drone parts, and custom moulded products.

Financially, the company posted a 7% rise in revenue to Rs 93.80 crore in FY25, compared to Rs 87.96 crore in FY24, while profit after tax jumped 68% to Rs 6.08 crore from Rs 3.62 crore.

The IPO proceeds will be used to part-finance the cost of a new manufacturing facility in Mahad, Maharashtra, set up a solar power plant, repay certain borrowings, and for general corporate purposes.

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While the strong subscription figures reflect healthy investor interest, the flat GMP suggests that listing gains may be muted. Market participants will be watching Monday’s debut closely to see if post-listing demand from retail and institutional buyers can push the stock beyond its issue price.

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