BSE SME S. V. J. Enterprises trades flat on debut

Shares of S. V. J. Enterprises were trading at Rs 36.10 at 10:28 IST on the BSE, a premium of 0.28% compared with the issue price of Rs 36.

The scrip was listed at Rs 38, a premium of 5.56% compared with the issue price.

So far, the scrip hit a high of Rs 38 and a low of Rs 36.10. At the counter, 5.07 lakh shares of the company had changed hands till now.

The initial public offer (IPO) of S. V. J. Enterprises received was subscribed 1.41 times. The issue opened for bidding on 23 February 2023 and it closed on 28 February 2023. The issue price was fixed at Rs 36 per share.

The IPO comprised fresh issue of 17,01,000 equity shares aggregating up to Rs 6.12 crore. The promoter and promoter group shareholding will dilute to 69.47% post IPO from 100% pre-IPO.

About 87,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 16,14,000 equity shares. The issue and the net issue will constitute 30.53% and 28.97%, respectively of the post issue paid-up equity share capital of the company.

The company intends to utilize the net proceeds from the issue for working capital requirements, issue expenses and general corporate purposes.

S. V. J. Enterprises is engaged in the manufacturing of disposable silver laminated plates, aluminium foil food container, aluminium laminated bag & pouches, packaging pouches etc. Initially, it was engaged in the production and trading of honey. As on 10 February 2023, the company had total of 8 employees.

The company recorded a revenue from operations of Rs 2.88 crore and net profit of Rs 0.77 crore for the period ended on 30 September 2022.

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