| Basis of Allotment |
| THIS IS A PUBLIC ANNOUNCEMENT FOR INFORMATION PURPOSES ONLY AND IS NOT A PROSPECTUS ANNOUNCEMENT AND DOES NOT CONSTITUTE AN INVITATION OR OFFER TO ACQUIRE, PURCHASE OR SUBSCRIBE TO SECURITIES. |
| NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY OUTSIDE INDIA. |
|
JIVIAL INDUSTRIES LIMITED |
| (formerly known as Jivial Industries Private Limited) | |
| CIN- U28999GJ2021PLC123516 | |
| Our Company was originally incorporated as a Private Limited Company under the name of "Jivial Industries Private Limited" on June 23, 2021 under the provisions of the Companies Act, 2013 with the Registrar of Companies, Central Registration Centre. Further our Company was converted into Public Limited pursuant to resolution passed by our shareholders at Extra ordinary general meeting held on December 19, 2023 name of our company was changed from "Jivial Industries Private Limited" to "Jivial Industries Limited" and a fresh Certificate of Incorporation pursuant to conversion into public limited dated January 01, 2024 issued by the Registrar of Companies, Ahmedabad. For details of incorporation, change of registered office of our Company, please refer to the section title "History and Corporate Structure" on page no. 143 of the Prospectus. | |
| Registered Office: Shade No. A1/5, Road C, Beside Daynamatic Forge, AJI GIDC, Rajkot, AJI Industrial Estate, Rajkot, Gujarat- 360003 | |
| Tel No: +91-8469022953 | E-mail id: cs@jivialrailings.com | Website: www.jivialrailings.com | |
| Contact Person: Ms. Ritu Garg, Company Secretary and Compliance Officer |
| OUR PROMOTERS: MR. ANAND JITENDRABHAI CHOVATIYA AND MRS. SHEETALBEN ANAND CHOVATIYA |
| BASIS OF ALLOTMENT |
INITIAL PUBLIC ISSUE OF UPTO 16,32,000 EQUITY SHARES OF FACE VALUE OF RS.10/- EACH OF JIVIAL INDUSTRIES LIMITED ("JIVIAL" OR THE "COMPANY" OR THE "ISSUER") FOR CASH AT A PRICE OF RS. 196/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS. 186/- PER EQUITY SHARE (THE "ISSUE PRICE") AGGREGATING TO RS. 3,198.72/- LAKHS ("THE ISSUE"), COMPRISING OF FRESH ISSUE OF 13,59,600 EQUITY SHARES AGGREGATING TO RS. 2,664.82/- LAKHS (THE "FRESH ISSUE") AND AN OFFER FOR SALE OF 2,72,400 EQUITY SHARES BY MR. ANAND JITENDRABHAI CHOVATIYA AND MRS. SHEETALBEN ANAND CHOVATIYA ("THE SELLING SHAREHOLDERS" OR "PROMOTER SELLING SHAREHOLDERS") ("OFFER FOR SALE") AGGREGATING TO RS. 533.90/- LAKHS, OUT OF WHICH 81,600 EQUITY SHARES OF FACE VALUE OF RS.10/- EACH FOR CASH AT A PRICE OF RS. 196/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS. 186/- PER EQUITY SHARE AGGREGATING TO RS. 159.94/- LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE PUBLIC ISSUE LESS THE MARKET MAKER RESERVATION PORTION I.E. NET ISSUE OF 15,50,400 EQUITY SHARES OF FACE VALUE OF RS. 10/- EACH AT A ISSUE PRICE OF RS. 196/- PER EQUITY SHARE INCLUDING A SHARE PREMIUM OF RS. 186/- PER EQUITY SHARE AGGREGATING TO RS. 3,038.78/- LAKHS IS HEREIN AFTER REFERRED TO AS THE "NET ISSUE". THE PUBLIC ISSUE AND THE NET ISSUE WILL CONSTITUTE 34.95% AND 33.20% RESPECTIVELY OF THE POST ISSUE PAID UP EQUITY SHARE CAPITAL OF OUR COMPANY. THE FACE VALUE OF OUR EQUITY SHARES IS RS. 10/- EACH.
| THE FACE VALUE OF THE EQUITY SHARES IS RS. 10/- EACH AND THE ISSUE PRICE IS RS. 196/- EACH. |
| THE ISSUE PRICE IS 19.6 TIMES OF THE FACE VALUE OF THE EQUITY SHARES. |
| ISSUE PROGRAMME | ISSUE OPENS ON: | ISSUE CLOSES ON: | PROPOSED DATE OF LISTING: |
| TUESDAY, JUNE 23, 2026 | THURSDAY, JUNE 25, 2026 | WEDNESDAY, JULY 01, 2026 |
The below mentioned risks are top 5 risk factors as per the Prospectus:
• The Company is dependent on external suppliers (or its major raw materials, unfinished extruded aluminium railings and unfinished aluminium castings. The pricing of aluminium can be volatile and could adversely impact financial condition.
• We have not entered into any agreement or contract with our customers. We work on purchase order basis with them. Our inability to maintain relationships with our customers could have an adverse effect on our business, prospects, results of operations and financial condition.
• We generate a substantial portion of our revenue from Gujarat, Maharashtra and Chattisgarh, states of our country. Any adverse developments affecting our operations in these states could have an adverse impact on our revenues and results of operations.
• Our company has experienced negative cash flow in the past and may continue to do so in the future, which could have a material adverse effect on our business, prospects, financial condition, cash flows and results of operations.
• Our product finished Aluminium Railings contributes significantly to our revenues from operation Any loss of business from such product may adversely affect our revenues and profitability For a detailed understanding of the risks applicable to the Company, please refer to the section titled as "Risk Factors" on page no. 22.
• Average Cost of Acquisition of Equity Shares by our Promoters:
| Sr. No. | Name of the Promoter | No of Equity Shares held | Average cost of Acquisition (in Rs.)* |
| 1. | Mr. Anand Jitendrabhai Chovatiya | 15,84,000 | 6.22 |
| 2. | Mrs. Sheetalben Anand Chovatiya | 14,24,000 | 5.79 |
• The P/E ratio based on the Basic & Diluted EPS, as restated for year ended March 31 2025 is 21.83 times.
• Weighted Average Return on Net Worth (RoNW) for Fiscal Year 2024-25, 2023-24, 2022-23 is 63.14%
• Weighted Average Cost of Acquisition (WACA) on issue price:
| Types of transactions | Weighted Average Cost of Acquisition (Rs. per Equity Shares) | No. of times of Issue Price (i.e. Rs. 196) |
| Weighted Average Cost of Acquisition of Primary/ new issuance during the 18 months preceding the date of this Prospectus | N.A | N.A |
| Weighted Average Cost of Acquisition of Secondary transactions during the 18 months preceding the date of this Prospectus | N.A. | N.A |
| Since there are no transactions to report under (a) and (b). therefore, information based on last 5 primary or secondary transactions (secondary transactions where Promoters / Promoter Group entities or shareholder(s) having the right to nominate director(s) in the Board of our Company, are a party to the transaction), not older than 3 years prior to irrespective of the size of transactions. | 5.45 | 35.96 |
THIS ISSUE WAS BEING MADE IN TERMS OF REGULATION 229 (1) AND 253 (3) OF CHAPTER IX OF THE SECURITIES AND EXCHANGE BOARD OF INDIA (ISSUE OF CAPITAL AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2018 ("SEBI (ICDR) REGULATIONS"), AS AMENDED, IN TERMS OF RULE 19(2)(b) OF THE SECURITIES CONTRACTS (REGULATION) RULES, 1957, AS AMENDED, THIS WAS AN ISSUE FOR AT LEAST 25% OF THE POST ISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY THIS ISSUE WAS A FIXED PRICE ISSUE AND ALLOCATION I IN THE NET ISSUE TO THE PUBLIC IS MADE IN TERMS OF REGULATION 253(3) OF SEBI (ICDR) REGULATIONS, AS AMENDED FOR FURTHER DETAILS, PLEASE REFER "ISSUE PROCEDURE" ON PAGE 219 OF THE PROSPECTUS.
Subscription Details:
The Issue was subscribed to the extent of 1.76 times and had received 1,433 applications for 28,72,200 Equity Shares as per the bid books of BSE (the "Bid Files") before removing multiple and duplicate bids.
After removing multiple and duplicate bids, bids (UPI Mandates) not accepted by investors/ blocked, bids rejected under application banked but bid not registered and valid rejections cases from the "Bid Book", the Issue was subscribed 0.94 times and had received 1,101 applications for 13,43,400 Equity Shares (after rejection and bids not banked). The details of the break up of rejections from the bid book under the various heads are as mentioned below:
| Sr. No | Category | Gross | Less: Valid Rejections | Valid | |||
| Applications | Equity Shares | Applications | Equity Shares | Applications | Equity Shares | ||
| 1 | Individual Investors | 144 | 1,72,800 | 1 | 1,200 | 143 | 1,71,600 |
| 2 | Non-Institutional Investors | 188 | 12,75,600 | 0 | 0 | 188 | 12,75,600 |
| 3 | Market Maker | 1 | 81,600 | 0 | 0 | 1 | 81,600 |
| 4 | Underwriters/ Lead Manager Devolvement | 2 | 1,03,200 | 0 | 0 | 2 | 1,03,200 |
| Total | 335 | 16,33,200 | 1 | 1,200 | 334 | 16,32,000 | |
Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange- BSE Limited on June 29, 2026.
A. Allocation to Market Maker (After & Multiple Rejections and Withdrawal): The Basis of Allotment to the Market Maker, at the issue price of Rs. 196/- per Equity Share, was finalised in consultation with BSE Limited. The category was subscribed by 1.0 time. The total number of shares allotted in this category is 81,600 Equity shares.
| Sr. No | No. of Shares applied for (Category wise) | Number of applications received | % to total | Total No. of Shares applied in each category | % to total | Proportionate shares available | Allocation per Applicant | Ratio of allottees to applicants | Serial Number of Qualifying applicants | Number of successful allottees (after rounding) | % to total | Total No. of shares allocated /allotted | % to total | Surplus / Deficit (14)-(7) | ||
| Before Rounding off | After Rounding off | |||||||||||||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | (11) | (12) | (13) | (14) | (15) | (16) | |
| 1 | 81,600 | 1 | 100 | 81,600 | 100 | 81,600 | 81,600 | 81,600 | 1 | 1 | 1 | 81,600 | 100 | 0 | ||
| GRAND TOTAL | 1 | 100 | 81,600 | 100 | 81,600 | 1 | 100 | 81,600 | 100 | 0 | ||||||
B. Allocation to Individual Investors (After & Multiple Rejections and Withdrawal): The Basis of Allotment to the Individual Investors, at the issue price of Rs. 196/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 0.22 times i.e. for 1,71,600 Equity Shares. Total number of shares allotted in this category is 1,71,600 Equity Shares to 143 successful applicants.
| Sr. No | No. of Shares applied for (Category wise) | Number of applications received | % to total | Total No. of Shares applied in each category | % to total | Proportionate shares available | Allocation per Applicant | Ratio of allottees to applicants | Serial Number of Qualifying applicants | Number of successful allottees (after rounding) | % to total | Total No. of shares allocated /allotted | % to total | Surplus / Deficit (14)-(7) | ||
| Before Rounding off | After Rounding off | |||||||||||||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | (11) | (12) | (13) | (14) | (15) | (16) | |
| 1 | 1,200 | 143 | 100 | 1,71,600 | 100 | 7,75,200 | 5,420.98 | 1,200 | 1 | 1 | 143 | 100 | 1,71,600 | 100 | -6,03,600 | |
| Grand Total | 143 | 100 | 171600 | 100 | 7,75,200 | 143 | 100 | 1,71,600 | 100 | -6,03,600 | ||||||
C. Allocation to Non-Institutional Investor (After Rejections & Withdrawal): The Basis of Allotment to Non- Institutional Investors, at the issue price of Rs. 196/- per Equity Share, was finalized in consultation with BSE Limited. The category was subscribed by 0.93 times i.e. for 12,75,600 Equity Shares. Total number of shares allotted in this category is 12,75,600 Equity Shares to 188 successful applicants.
The Category-wise details of Basis of Allotment are as under:
| Sr. No | No. of Shares applied for (Category wise) | Number of applications received | % to total | Total No. of Shares applied in each category | % to total | Proportionate shares available | Allocation per Applicant | Ratio of allottees to applicants | Serial Number of Qualifying applicants | Number of successful allottees (after rounding) | % to total | Total No. of shares allocated /allotted | % to total | Surplus / Deficit (14)-(7) | ||
| Before Rounding off | After Rounding off | |||||||||||||||
| (1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) | (9) | (10) | (11) | (12) | (13) | (14) | (15) | (16) | |
| 1. | 1,800 | 89 | 47.34 | 1,60,200 | 12.56 | 1,73,161 | 1,945.63 | 1,800 | 1 | 1 | 89 | 47.34 | 1,60,200 | 12.56 | -12961 | |
| 2. | 2,400 | 1 | 0.53 | 2,400 | 0.19 | 2,594 | 2,594.00 | 2,400 | 1 | 1 | 1 | 0.53 | 2,400 | 0.19 | -194 | |
| 3. | 3,000 | 1 | 0.53 | 3,000 | 0.24 | 3,243 | 3,243.00 | 3,000 | 1 | 1 | 1 | 0.53 | 3,000 | 0.24 | -243 | |
| 4. | 4,200 | 1 | 0.53 | 4,200 | 0.33 | 4,540 | 4,540.00 | 4,200 | 1 | 1 | 1 | 0.53 | 4,200 | 0.33 | -340 | |
| 5. | 4,800 | 2 | 1.06 | 9,600 | 0.75 | 10,377 | 5,188.50 | 4,800 | 1 | 1 | 2 | 1.06 | 9,600 | 0.75 | -777 | |
| 6. | 5,400 | 69 | 36.70 | 3,72,600 | 29.21 | 4,02,744 | 5,836.87 | 5,400 | 1 | 1 | 69 | 36.70 | 3,72,600 | 29.21 | -30144 | |
| 7. | 6,000 | 2 | 1.06 | 12,000 | 0.94 | 12,971 | 6,485.50 | 6,000 | 1 | 1 | 2 | 1.06 | 12,000 | 0.94 | -971 | |
| 8. | 6,600 | 3 | 1.60 | 19,800 | 1.55 | 21,402 | 7,134 00 | 6,600 | 1 | 1 | 3 | 1.60 | 19,800 | 1.55 | -1602 | |
| 9. | 10,800 | 1 | 0.53 | 10,800 | 0.85 | 11,674 | 11,674.00 | 10,800 | 1 | 1 | 1 | 0.53 | 10,800 | 0.85 | -874 | |
| 10. | 12,600 | 11 | 5.85 | 1,38,600 | 10.87 | 1,49,813 | 13,619.36 | 12,600 | 1 | 1 | 11 | 5.85 | 1,38,600 | 10.87 | -11213 | |
| 11. | 17,400 | 1 | 0.53 | 17,400 | 1.36 | 18,808 | 18,808.00 | 17,400 | 1 | 1 | 1 | 0.53 | 17,400 | 1.36 | -1408 | |
| 12. | 25,200 | 2 | 1.06 | 50,400 | 3.95 | 54,477 | 27,238.50 | 25,200 | 1 | 1 | 2 | 1.06 | 50,400 | 3.95 | -4077 | |
| 13. | 55,200 | 1 | 0.53 | 55,200 | 4.33 | 59,666 | 59,666.00 | 55,200 | 1 | 1 | 1 | 0.53 | 55,200 | 4.33 | -4466 | |
| 14. | 87,000 | 1 | 0.53 | 87,000 | 6.82 | 94,038 | 94,038.00 | 87,000 | 1 | 1 | 1 | 0.53 | 87,000 | 6.82 | -7038 | |
| 15. | 1,02,600 | 2 | 1.06 | 2,05,200 | 16.09 | 2,21,801 | 1,10,900.50 | 1,02,600 | 1 | 1 | 2 | 1.06 | 2,05,200 | 16.09 | -16601 | |
| 16. | 1,27,200 | 1 | 0.53 | 1,27,200 | 9.97 | 1,37,491 | 1,37,491.00 | 1,27,200 | 1 | 1 | 1 | 0.53 | 1,27,200 | 9.97 | -10291 | |
| GRAND TOTAL | 188 | 100.00 | 12,75,600 | 100 | 13,78,800 | 188 | 100.00 | 12,75,600 | 100.00 | -103200 | ||||||
D. *Due to shortfall of the subscription in Individual investor category, the spill over shares from these category moved to Non Institutional investor category, since the Issue is not fully subscribed shortfall of 1,03,200 shares is subscribed by the underwriters to the Issue as prescribed on page no 55 of Prospectus dated June 17, 2026 as under:
| Sr No | Name of Underwriter | Status | No of Shares | Percentage | Issue Value |
| 1 | Sunflower Broking Private Limited | Underwriter | 87,600 | 84.88% | 196.00 |
| 2 | Corporate Makers Capital Limited | Lead Manager & Underwriter | 15,600 | 15.12% | 196.00 |
| 1,03,200 |
The Board of Directors of the Company at its meeting held on June 29, 2026 has taken on records the Basis of Allotment of Equity shares, as approved by the Designated stock Exchange viz. BSE Limited and has authorized the corporate action for the transfer and allotment of the Equity Shares to various successful applicants.
The CAN and allotment advice and / or notices shall be dispatched to the E-mail ids / address of the investors as registered with the depositories on or before June 30, 2026. Further, the instructions to Self-Certified Syndicate Banks for unblocking of funds have been processed on or before June 30, 2026. The Equity Shares allotted to successful applicants are being credited to their beneficiary accounts subject to validation of the accounts details with the depositories concerned. In case the same is not received within 10 days, investors may contact the Registrar to the Issue at the given address given below. The Company is taking steps to get the Equity Shares admitted for trading on the BSE SME Platform within 3 working days from the Closure of the Issue. The trading is proposed to commence on July 01, 2026, subject to receipt of listing and trading approvals from the BSE.
Note: All capitalized terms used and not specifically defined herein shall have the same meaning as ascribed to them in the Prospectus.
The Lead Manager associated with the Issue have handled 9 SME public issues and NIL Main Board Public Issues during the current financial year and three financial years preceding the current Financial Year as described below:
| Type | FY 2026-27 | FY 2025-26 | FY 2024-25 | Total |
| SME IPO | 2 | 6 | 1 | 9 |
| Main Board IPO | - | - | - | - |
| Total | 2 | 6 | 1 | 9 |
| Status upto June 29, 2026 | 2 | 6 | 1 | 9 |
| INVESTORS PLEASE NOTE |  |
BIGSHARE SERVICES PRIVATE LIMITED |
| The details of the allotment made would also be hosted on the website of the Registrar to the Issuer, Bigshare Services Private Limited at www.bigshareonline.com. All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/ Sole applicants. Serial number of the Application Form, Number of shares applied for and Bank Branch where the application had been lodged and payment details at the address of the Registrar given below: | Add: Office No S6 - 2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri - East, Mumbai - 400093, Maharashtra, India | |
| Telephone: +91-22-62638200 I Email ID: ipo@bigshareonline.com | Investor grievance Email: investor@bigshareonline.com | ||
| Website: www.bigshareonline.com | ||
| Contact Person: Mr. Vinayak Morbale | ||
| SEBI Registration Number: INR000001385 | CIN: U28999GJ2021PLC123516 |
| For Jivial Industries Limited | |
| On behalf of Board of Directors | |
| Sd /- | |
| Date: June 30, 2026 | Anand Jitendrabhai Chovatiya |
| Place: Rajkot | Managing Director |
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARES ON LISTING OR THE BUSINESS PROSPECTS OF JIVIAL INDUSTRIES LIMITED
JIVIAL INDUSTRIES LIMITED, is proposing, subject to market conditions and other considerations, public issue of its Equity Shares and has filed the Prospectus with the Registrar of Companies, Ahmedabad on June 17, 2026. The Prospectus is available on the website of the Lead Manager at www.corporatemakers.in, the website of the BSE Limited i.e. www.bsesme.com and website of the Issuer Company at; www.jivialrailings.com, Investor should read the Prospectus carefully, including the "Risk Factors" beginning on page 22 of the Prospectus before making any investment decision.
The Equity Shares have not been and will not be registered under the U.S. Securities Act 1933, as amended (the "Securities Act") or any state securities laws in the United States and may not be issued or sold within the United States or to, or for the account or benefit of, "U.S. persons" (as defined in Regulations of the Securities Act), except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, the Equity Shares will be issued and sold (i) in the United States to "qualified institution buyers", as defined in Rule 144A of the Securities Act, and (ii) outside the United States in offshore transactions in reliance on Regulations under the Securities Act and in compliance with the applicable laws of the jurisdiction where those offers and sales occur. The Equity Shares have not been and will not be registered, listed or otherwise qualified in any other jurisdiction outside India and may not be issued or sold, and Application may not by persons in any such jurisdiction, except in compliance with the applicable laws of such jurisdiction.
|
|