Jayant Infratech SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 30 Jun 2022 – 05 Jul 2022
- Listing date
- 13 Jul 2022
- Face value
- ₹10 per share
- Issue price
- ₹67 per share
- Lot size
- 2,000 shares
- Total issue size
- ₹6.19 Cr
- Market cap at offer price
- ₹21.68 Cr
- Promoter holding
- 100.00% → 71.44% pre-issue → post-issue
- ISIN
- INE0KR801019
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Gretex Corporate Services Ltd.
- Registered office
- Mangal Smriti Bajpai Ground, Tilak Nagar, Chhattisgarh
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 48,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹67
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,34,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,68,000 |
| S-HNI (max) | 7 | 14,000 | ₹9,38,000 |
| B-HNI (min) | 8 | 16,000 | ₹10,72,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 6.40 | — |
| P/E (×) | 10.47 | — |
| Market cap | — | ₹21.68 Cr |
Key performance indicators
- Return on net worth
- 9.70%
- Debt / equity
- 0.49
- NAV per share
- ₹66.02
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Jayant Infratech SME
Incorporated in 2003 as Shri Raj Manufacturing and Projects Private Limited, Jayant Infratech Limited (converted to public company in March 2022) is engaged in Railway Infrastructure Development. The company specializes in design, drawing, supply, erection and commissioning of 25KV, 50Hz Single Phase Traction Overhead Equipment for various Indian Railway zones including Eastern, South Eastern, South East Central, Northern, East Coast, North Frontier, and East Central Railways, as well as the Central Organisation for Railway Electrification (CORE). The company also serves large public and private sector clients. With over 20 years of experience, Jayant Infratech has completed hundreds of kilometers of railway electrification and erected several traction substations. The company is based in Chhattisgarh, which provides opportunities to serve coal mines by developing sidings for coal loading and transportation. The company's work contributes to reducing fossil fuel dependence and carbon footprint through railway electrification.
Company Analysis
from RHPJayant Infratech Limited designs, supplies, erects and commissions 25KV, 50Hz single-phase traction overhead electrification equipment for Indian Railways and coal mines.
Incorporated in 2003 as Shri Raj Manufacturing and Projects Private Limited, Jayant Infratech Limited (converted to public company in March 2022) is engaged in Railway Infrastructure Development. The company specializes in design, drawing, supply, erection and commissioning of 25KV, 50Hz Single Phase Traction Overhead Equipment for various Indian Railway zones including Eastern, South Eastern, South East Central, Northern, East Coast, North Frontier, and East Central Railways, as well as the Central Organisation for Railway Electrification (CORE). The company also serves large public and private sector clients. With over 20 years of experience, Jayant Infratech has completed hundreds of kilometers of railway electrification and erected several traction substations. The company is based in Chhattisgarh, which provides opportunities to serve coal mines by developing sidings for coal loading and transportation. The company's work contributes to reducing fossil fuel dependence and carbon footprint through railway electrification.
Objects of the Issue
- Payment of Security Deposit for renting of office space ₹ 300.00 Lakh p.20
- Working Capital Requirements ₹ 120.00 Lakh p.20
- General Corporate Purpose ₹ 149.08 Lakh p.20
- Payment of Security Deposit for renting of Office Space ₹300.00 lakh p.85
- Working Capital Requirements ₹120.00 lakh p.85
- General Corporate Purposes ₹149.08 lakh p.85
Issue Structure
- Total Issue
- ₹ 619.08 Lakh
- Fresh Issue
- 9,24,000 Equity Shares of ₹10.00 each for cash at a price of ₹ 67.00 per Equity Share (including premium of ₹ 57.00 per Equity Share) aggregating to ₹ 619.08 Lakh
- Offer for Sale
- NIL
- Price Band
- ₹ 67.00 per Equity Share (Fixed Price Issue)
- Lot Size
- 2,000 shares; trading lot in multiples of 2,000 thereafter with minimum allotment of 2,000 Equity Shares
- Face Value
- ₹ 10.00 each
Business Model
The company earns revenue through the design, supply, erection and commissioning of Railway Infrastructure equipment, specifically 25KV overhead traction electrification systems and traction substations for Indian Railways and related organizations. Revenue is generated on a project basis from various railway zones, CORE, and large public/private sector clients.
Business Segments
SWOT Analysis
- • Established presence in railway electrification sector with 20+ years operational history(p.20)
- • Diversified customer base across multiple Indian Railway zones and coal mining operations(p.20)
- • Specialized technical expertise in 25KV overhead electrification and traction substation construction(p.20)
- • Strategic geographic positioning in coal-rich Chhattisgarh to serve mining siding development(p.20)
- • Engaged in paramount national importance industry with undisputed growth potential(p.91)
- • Experienced promoter and management team(p.91)
- • Exemplary track record in execution of railway infrastructure projects(p.91)
- • Satisfied chain of vendors supporting operations(p.91)
- • Quality service delivery capabilities(p.91)
- • Two decades of successful railway electrification project execution(p.113)
- • Experienced management with 17+ years in railway infrastructure sector(p.112)
- • Exemplary track record with award for project completion ahead of schedule(p.114)
- • No delays in project completion due to service deficiency(p.114)
- • Geographic advantage for coal mining siding development(p.112)
- • Established vendor relationships and supply chain(p.114)
- • Established track record in railway electrification across India(p.179)
- • Experienced promoter and management team with deep domain expertise(p.179)
- • Exemplary project execution and on-time delivery record(p.179)
- • Strong vendor relationships and supply chain stability(p.179)
- • Award recognition for project completion excellence(p.179)
- • Geographic advantage and access to coal mining sector opportunities(p.178)
- • Heavy dependence on single promoter for strategic direction and day-to-day operations(p.29)
- • Concentration of revenue from top 5 and top 10 customers creates customer concentration risk(p.35)
- • Negative operating cash flow in recent periods indicating liquidity concerns(p.33)
- • Promoter and Promoter Group retain controlling majority (71.44%) post-IPO limiting minority shareholder influence(p.35)
- • Lease-based premises arrangement creates operational vulnerability(p.27)
- • Non-receipt of No Objection Certificate from lenders to undertake this IPO(p.28)
- • Business is working capital intensive with significant funding needs(p.87)
- • Limited internal accruals to fund working capital expansion(p.87)
- • Operations concentrated in single geographic location with expansion planned(p.86)
- • Operations concentrated in oversaturated railway zones causing work delays(p.114)
- • Limited scope of work in electrification projects(p.114)
- • Competition from established players in the market(p.114)
- • Small employee base of only 7 permanent staff(p.117)
- • Litigation involving promoter regarding alleged misconduct in prior venture(p.195)
- • Labour law violation case pending against company(p.194)
- • Significant outstanding dues to micro, small and medium enterprises(p.197)
- • High dependence on limited customer base (Indian Railways and coal mines)(p.178)
- • Significant financial debt obligations(p.190)
- • Indian Railways targeting 100% electrification by December 2023 with significantly increased capital expenditure(p.19)
- • National Rail Plan targets increase of railway freight modal share from 26-27% to 40-45% by 2030 requiring substantial capacity enhancement(p.19)
- • Government identified 58 Super Critical and 68 Critical projects for completion creating sustained project pipeline(p.19)
- • Government commitment to sustained high CAPEX in railway sector over next 10 years(p.19)
- • Expansion into new markets and diversification beyond core electrification business(p.31)
- • Indian Railways targeting 100% electrification by December 2023 with massive capex(p.102)
- • Government allocated highest-ever capital expenditure for railways at Rs 2.45 trillion for FY2022-23(p.108)
- • Rapid railway network expansion with 2,843 km dedicated freight corridors by June 2022(p.107)
- • Growing Vande Bharat trains program with 400 new generation trains to be manufactured(p.108)
- • Kavach indigenous train collision avoidance system deployment with 2,000 km planned for FY2022-23(p.108)
- • Expansion opportunity in Mumbai location with government focus on railway infrastructure development(p.86)
- • Government's plan to electrify 100% of railway routes within 5 years(p.113)
- • Over 50% of railway routes remain non-electrified with undisputed growth potential(p.113)
- • Conscious effort by Indian Railways for electrification opens enormous tender opportunities(p.114)
- • Strategic acquisition and technology alliance opportunities to enter new markets(p.114)
- • Rising crude oil prices and global warming concerns support electrified railways(p.113)
- • Massive untapped railway electrification potential with government mandate(p.179)
- • Growing national focus on renewable energy and pollution reduction(p.179)
- • Expansion in coal mining siding development(p.178)
- • Business expansion strategy focused on large and medium projects(p.178)
- • Intense competition from larger organized players with greater financial and technical resources(p.30)
- • Operating in oversaturated railway zones causing project delays and cost escalation(p.28)
- • Labour-intensive industry exposed to wage inflation, strikes and unionization risks(p.27)
- • Raw material price volatility (steel, copper, aluminum) affecting project economics(p.28)
- • Dependency on government for electricity supply with no alternative power sources(p.28)
- • Economic slowdown reducing demand for railway infrastructure services(p.27)
- • COVID-19 pandemic impacts on railway operations and project execution(p.27)
- • Changes in government regulations and policy affecting railway electrification priorities(p.40)
- • Global economic slowdown and war impacts affecting capital deployment and commodity prices(p.96)
- • Rising interest rates and tighter financial conditions from monetary tightening(p.97)
- • Dependent on limited customer base and railroad authority projects(p.85)
- • Fund requirements not appraised by independent third parties and subject to change(p.89)
- • Exposure to regulatory changes and government policy shifts in railway sector(p.88)
- • Fluctuating raw material prices and supply chain vulnerabilities(p.114)
- • Intense competition from better capitalized players in the industry(p.118)
- • Exposure to fluctuations in raw material and input costs(p.190)
- • Inability to pass on increased costs to customers(p.191)
- • Dependence on government spending and railway infrastructure budgets(p.178)
- • Competitive intensity from Indian and international service providers(p.191)
- • Rapid technological change requiring continuous capability upgrades(p.180)
- • Exposure to credit risk from customer payment defaults(p.190)
- • Sensitivity to macroeconomic slowdown and commodity price volatility(p.191)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Nilesh Jobanputra | Promoter | 39.42% | — |
| Promoter Group | Promoter Group | 60.58% | 71.44% |
| Mr. Nilesh Jobanputra | Promoter | 39.42% | 28.17% |
| M/s. Kantilal Jobanputra & Sons | Promoter Group | 0.78% | 0.55% |
| M/s. Nilesh Jobanputra & Sons | Promoter Group | 13.29% | 9.49% |
| Ms. Daksha Jobanputra | Promoter Group | 7.34% | 5.24% |
| Ms. Jasmine Jobanputra | Promoter Group | 14.69% | 10.49% |
| Mr. Jai Jobanputra | Promoter Group | 21.72% | 15.52% |
| Ms. Sejal Fadia | Promoter Group | 2.77% | 1.98% |
| Mr. Nilesh Jobanputra | Promoter | 39.42% | — |
| Nilesh Jobanputra | Promoter | — | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.