Jiji Industries files for DRHP (draft red herring prospectus) with the SEBI to enter the capital market with its 90,00,000 equity shares of FV (Face value) of Rs 10 each. Jiji Industries is an Aluminium Ingots maker company which also produces aluminum extruded sections & profiles and also some aligned products. Jiji industries (Erstwhile Krishna Profiles Pvt Ltd) started its journey in the year 2003 by Rajesh Mundra and Gaurav Mungad.
The company has plans to expand its production capacity by 6000 MT per annum from its present capacity of 2100 MT per annum. A proposed expansion plant is to be set of 1,500MT per annum capacity at a SEZ (Special Economic zone) in Pithampur and a 4,500MT per annum plant at Ghatabillod.
The company also plans to process the money of IPO for the expansion of manufacturing capacities in the existing Ghatabillod manufacturing units which will cost rupees 19.2 Cr. A cost of Rs 9.78 Cr is estimated for setting up new manufacturing unit at Pithampur, Madhya Pradesh SEZ and also rupees 4.35 Cr will be spend on its long term working capital.
The companies major clients are Al Medeah General Trading, Vani Exports, Divine Aluminium, Mungad Strips & Alloys and Overseas Metal Trading Company
To manage its public issue Hem Securities Limited has been appointed as the BRLMs (book running lead manager).
“Bell the bull says: Jiji Industries posted a net profit of rupees 3.03 Cr on its total income of rupees 86.04 Cr for FY11.”Google+