The Jyoti Global Plast IPO is generating significant buzz as one of India’s notable SME public offerings in 2025. This plastic molding solutions provider aims to raise ₹35.44 crore through a combination of fresh equity and an offer for sale. With subscription dates set for August 4–6, 2025, and a tentative listing on August 11, 2025, investors are keenly tracking its Grey Market Premium (GMP) and fundamentals. This guide delivers a 360-degree analysis of Jyoti Global Plast—covering financials, risks, GMP trends, and whether it’s a “Buy” or “Avoid.”
About Jyoti Global Plast IPO: Key Details
| Parameter | Details |
|---|---|
| IPO Dates | August 4, 2025 – August 6, 2025 |
| Price Band | ₹62 – ₹66 per share |
| Face Value | ₹10 per share |
| Lot Size | 2,000 Shares |
| Minimum Investment | ₹132,000 (Retail) / ₹396,000 (HNI) |
| Total Issue Size | ₹35.44 Crores (53.7 Lakh Shares) |
| Fresh Issue | ₹28.51 Crores (43.2 Lakh Shares) |
| Offer for Sale (OFS) | ₹6.93 Crores (10.5 Lakh Shares) |
| Listing Exchange | NSE SME |
| Book Running Lead Manager | Unistone Capital Pvt Ltd |
| Registrar | Link Intime India |
IPO GMP (Grey Market Premium) Today
*As of July 2025, the Grey Market Premium (GMP) for Jyoti Global Plast IPO is not yet active. GMP typically emerges 1–2 weeks before the IPO opens. Investors should monitor this space for real-time updates:*
- Historical Context: Recent SME IPOs like Cash Ur Drive Marketing and Mehul Colours saw GMPs ranging from ₹15–₹40, indicating strong retail interest.
- Why GMP Matters: A high GMP (>₹20) signals robust demand and potential listing gains. Check back for live updates closer to August 4.
- Today’s GMP: ₹11 (16.67%)
Note: GMP fluctuates daily. Check our IPO GMP Tracker for real-time updates.
About the Company: Jyoti Global Plast Ltd.
Founded: 2004 | Headquarters: Navi Mumbai, Maharashtra
Core Business: Custom plastic molding solutions for industrial packaging (HDPE/PP drums, barrels), automotive parts, toys, and drone components.
Key Strengths:
- Diverse Clientele: 1,000+ clients across pharma, chemicals, FMCG, and lubricants.
- Manufacturing Capacity: Two units in Mumbai with in-house logistics and testing.
- Innovation Portfolio: Drone components and childcare products signal future growth.
- Certifications: ISO 9001 (Quality) and ISO 14001 (Environmental).
Competitive Landscape:
Faces competition from established players like Time Technoplast and Mold-Tek Packaging. Jyoti’s niche in customized HDPE packaging is its differentiator.
Financial Performance: Year-Wise Data (₹ Crores)
| Metric | Mar 2025 | Mar 2024 | Mar 2023 | Growth (YoY) |
|---|---|---|---|---|
| Revenue | 93.80 | 87.96 | 89.35 | 7% ↑ |
| Profit After Tax | 6.08 | 3.62 | 2.32 | 68% ↑ |
| EBITDA | 11.66 | 7.75 | 5.82 | 50% ↑ |
| Total Assets | 56.81 | 51.84 | 43.54 | 9.5% ↑ |
| Total Borrowings | 25.31 | 28.95 | 23.84 | 12.5% ↓ |
| Net Worth | 21.34 | 15.26 | 11.65 | 40% ↑ |
Analysis:
- Revenue Growth: Steady at 7% CAGR (2023–2025), driven by industrial demand.
- PAT Surge: 68% jump in 2025 due to cost optimization and debt reduction.
- Debt Management: Borrowings reduced by ₹3.64 Crores (2024–2025), improving financial health.
Key Performance Indicators (KPIs)
| Ratio | Value | Industry Avg. | Verdict |
|---|---|---|---|
| ROE | 33.22% | 18–22% | Excellent |
| ROCE | 22.35% | 15–20% | Strong |
| Debt/Equity | 1.19 | 1.5–2.0 | Low Risk |
| PAT Margin | 6.50% | 4–6% | Competitive |
| EBITDA Margin | 12.47% | 10–12% | Above Average |
| EPS (Pre-IPO) | ₹3.92 | – | Robust Earnings |
| P/E (Post-IPO) | 17.1* | 20–25 | Fairly Valued |
*Calculated at upper price band (₹66) and FY25 PAT.
IPO Reservation Quota
| Investor Category | Shares Reserved | Percentage |
|---|---|---|
| Qualified Institutional Buyers (QIB) | 25,46,000 | 47.41% |
| Non-Institutional Investors (HNI) | 7,66,000 | 14.26% |
| Retail Individual Investors (RII) | 17,88,000 | 33.30% |
| Market Maker | 2,70,000 | 5.03% |
| Anchor Investors | 15,26,000 | 28.42%* |
| *Anchor portion is part of QIB quota. |
Anchor Investor Details
- Anchor Bid Date: August 1, 2025
- Amount Raised: ₹10.07 Crores
- Lock-in Period: 50% shares (30 days until Sep 6, 2025); 50% (90 days until Nov 5, 2025).
Anchor participation signals institutional confidence but locks liquidity.
Promoter Holding Structure
| Period | Holding Percentage |
|---|---|
| Pre-IPO | 100% |
| Post-IPO | 72.91% |
| Promoters: Bhawanji Khimji Shah, Hiren Bhawanji Shah, Deven Bhawanji Shah, Karan Deven Shah, Sainyum Hiren Shah. | |
| Dilution is moderate, aligning with SEBI norms for SME listings. |
IPO Timeline (Tentative)
| Event | Date |
|---|---|
| IPO Open | August 4, 2025 |
| IPO Close | August 6, 2025 |
| Allotment Finalization | August 7, 2025 |
| Refund Initiation | August 8, 2025 |
| Demat Credit | August 8, 2025 |
| Listing Date | August 11, 2025 |
Note: UPI mandate cutoff is 5 PM on August 6.
How to Apply & Lot Size Details
- Retail Investors: Min 1 lot (2,000 shares = ₹132,000), Max 1 lot (₹132,000).
- HNI Investors: Min 3 lots (6,000 shares = ₹396,000), Max 7 lots (₹924,000).
- Apply Via: ASBA-enabled banks, broker apps (Zerodha, Groww), or UPI.
Step-by-step guide for applying via Zerodha here.
IPO Registrar Contact
MUFG Intime India Private Limited (Link Intime)
- Phone: +91-22-4918 6270
- Email: jyotiglobal.ipo@in.mpms.mufg.com
- Website: Link Intime IPO Status
IPO Recommendation: Subscribe or Avoid?
Pros:
- Strong Financials: 68% PAT growth and debt reduction in FY25.
- Niche Market: Custom HDPE packaging solutions for high-demand sectors.
- Attractive Valuations: P/E of 17.1 vs industry average of 22.
- Experienced Promoters: 20+ years in plastic molding.
Cons:
- SME Segment Risks: Higher volatility vs mainboard listings.
- Customer Concentration: Top 5 clients contribute ~40% revenue.
- Raw Material Volatility: Dependent on polymer (HDPE/PP) prices.
Verdict: Subscribe for Long-Term. The IPO is fairly priced with solid fundamentals. Suitable for investors with a 2–3-year horizon. Short-term traders should track GMP trends post-IPO opening.
Allotment and Refunds: Step-by-Step Guide
- Check Allotment Status:
- Visit Link Intime’s portal after August 7, 2025.
- Enter PAN or application number.
- Refund Timeline:
- Failed bids: Refunds by August 8, 2025.
- Payment modes: UPI/ASBA mandate reversal or direct bank credit.
- Post-Allotment Strategy:
- Hold if: GMP is positive + long-term growth outlook intact.
- Sell on Listing if: GMP > ₹25 (indicating overvaluation).
RHP/DRHP Highlights
The Red Herring Prospectus (RHP) reveals:
- Fund Utilization:
- ₹11.17 Cr for a new Mahad manufacturing facility.
- ₹9 Cr for a solar power plant (reducing energy costs by 30%).
- ₹1.2 Cr for debt repayment.
- Risks: Polymer price fluctuations, limited geographic diversification.
- DRHP Document: Jyoti Global Plast IPO DRHP
- RHP Document: Jyoti Global Plast IPO RHP
FAQs: 10 Critical Questions Answered
- Q: What is Jyoti Global Plast’s IPO GMP today?
A: GMP will be live closer to August 4. Track updates here. - Q: How to apply via Zerodha?
A: Log in > Go to ‘IPOs’ > Select Jyoti Global Plast > Bid via UPI. - Q: What is the lot size?
A: 2,000 shares (₹132,000 at upper price band). - Q: When is the allotment date?
A: August 7, 2025. - Q: Listing date?
A: August 11, 2025, on NSE SME. - Q: Who are the promoters?
A: Bhawanji Khimji Shah and family. - Q: Debt levels?
A: ₹25.31 Cr (Debt/Equity: 1.19 – manageable). - Q: Can retail investors apply for more than 1 lot?
A: No. Retail quota capped at ₹200,000 investment (1 lot = ₹132,000). - Q: EPS pre- and post-IPO?
A: Pre-IPO: ₹3.92; Post-IPO: ₹3.00 (due to equity dilution). - Q: Should I invest?
A: Yes, if aligned with industrial growth and holding 2+ years. Avoid for quick listing gains unless GMP is high.
Conclusion
The Jyoti Global Plast IPO (August 4–6, 2025) offers a compelling opportunity in India’s plastic packaging sector. With strong FY25 financials, reasonable valuations, and expansion plans, it’s a viable long-term bet. Monitor live GMP trends post-July 25 and cross-verify with RHP disclosures. For investors, this IPO is a “Subscribe” with cautious optimism.
Disclaimer: This analysis is for informational purposes. Consult a SEBI-certified advisor before investing. IPO markets carry inherent risks.
