SJS Enterprises IPO subscribed 19 pc on first day of subscription

It caters to the requirements of the two-wheeler, passenger vehicle, commercial vehicle, consumer appliance, medical devices, farm equipment and sanitary ware industries.

The initial public offer of SJS Enterprises Limited received a 19 per cent subscription on the first day on Monday.

The Rs 800-crore issue received bids for 34,05,348 shares as compared to 1,80,79,097 shares on offer, according to NSE data.

The category for retail individual investors (RIIs) received 64 per cent subscriptions and those meant for non-institutional investors 1 per cent.

SJS Enterprises had on Friday said it has raised Rs 240 crore from anchor investors.

The issue, with a price band of Rs 531-542 a share, will conclude on November 3.

SJS Enterprises is a leading player in the Indian decorative aesthetics industry, offering the widest range of aesthetics products in the country.

It is a ''design-to-delivery'' aesthetics solutions provider with the ability to design, develop and manufacture a diverse product portfolio. It caters to the requirements of the two-wheeler, passenger vehicle, commercial vehicle, consumer appliance, medical devices, farm equipment and sanitary ware industries. According to the company's website, its product offerings include decals and body graphics, 2D appliques and dials, 3D appliques and dials, 3D lux badges, domes, overlays, aluminium badges, in-mould label or in-mould decoration, lens mask assembly and chrome-plated, printed and painted injection moulded plastic parts. Axis Capital Limited, Edelweiss Financial Services Limited and IIFL Securities are the managers of the offer.

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