SJS Enterprises has raised Rs 800 crore via its initial stake sale. The IPO was open for subscription between November 1-3. Shares were sold in the range of Rs 531-542 apiece. Bids were made in multiples of 25 shares.
The company was not so active in the grey market as the unofficial market was demanding a marginal premium of Rs 70 per share, or 10-12 per cent, over issue price.
SJS Enterprises IPO was subscribed only 1.59 times, with institutional buyers bidding for more than 2 times while retail and institutional quotas were subscribed about 1.4 times each.
Majority of analysts were positive about the issue, thanks to its solid track record, robust portfolio, strong relationship with top tier clientage and supply chain network.
SJS Enterprises is a leading player in the Indian decorative aesthetics industry offering the widest range of aesthetics products in the country.
