Jivial Industries Summary
The activity in the business is involved in the production of finished aluminium railings and fixtures from unfinished extruded aluminium railings and unfinished aluminium casting. Formed in 2021, Jivial Industries Limited produces two types of railings: (i) Continuous Profiles which is meant to hold the glass at the bottom and (ii) Handrails which hold the glass at the top along with design for hand support. The product portfolio consists of Aluminium Hand Railings, Aluminum railing, Aluminum Spigots, Aluminium Conceal, and Aluminium Bend. The firm works in the aluminium industry having high brand reputation, sound finances, good client list and experience management. As of August 31, 2025, the company has 18 full-time employees.
Coming to the process involved in business operations, the company does manufacturing of aluminium railings and fixtures in its plant. The firm works for the customers in the construction, architecture and interior designing industries. The revenue flow will be regular as the company has sound brand reputation, sound finances, good customer list and experience management.
BSE SME fixed-price issue by Jivial Industries Ltd., wherein face value is ₹10 per share with the issue price of ₹196.00 per share (fixed price, not book-built). Issue size of ₹31.99 Cr, out of which the new issue is ₹25.05 Cr (fresh issue), ₹5.34 Cr is offer for sale, and Market Maker portion is ₹1.60 Cr. Issue is bifurcated between NII (50.00% of net issue) and Retail Investors (50.00% of net issue), and tentative listing of the stock will be on BSE SME on 1st July 2026.
Jivial Industries IPO Details:
Jivial Industries Limited Issue Management:
Corporate Makers Capital Ltd. acts as the book-running lead manager for Jivial Industries BSE SME IPO, managing underwriting and compliance.
Jivial Industries Limited IPO RTA (Registrar) Details:
Bigshare Services Pvt.Ltd. handles allotment, refunds, and demat credits - contact at +91-22-6263 8200 or ipo@bigshareonline.com.
Jivial Industries Limited IPO Allotment Status:
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Jivial Industries BSE SME IPO totals ₹31.99 Cr, comprising a fresh issue of ₹25.05 Cr, offer for sale of ₹5.34 Cr, and ₹1.60 Cr reserved for the market maker. The face value is ₹10 per share and the issue price is ₹196.00 per share (fixed price issue on BSE SME).
Jivial Industries Limited IPO proceeds from the fresh issue will be deployed towards:
Jivial Industries IPO offers 16,32,000 equity shares (total issue ₹31.99 Cr, net offer to public 15,50,400 shares after market-maker reservation).
Note: Jivial Industries is a fixed-price SME IPO (not book-built), so there is no QIB portion and no anchor investor allocation. The IPO is uniquely structured with equal 50% allocation to NII and Retail.
Note: Jivial Industries is a fixed-price SME IPO (not book-built), which means there is NO anchor investor bidding and NO QIB portion. Anchor investors participate only in book-built IPOs where there is a QIB portion. This IPO has only NII (50%) and Retail (50%) allocations with no QIB/Anchor component.
The issue is scheduled to list on 1st July 2026 on BSE SME. Corporate Makers Capital Ltd. is the Book Running Lead Manager (BRLM) to the issue, and the registrar for the IPO is Bigshare Services Pvt. Ltd.
Jivial Industries Ltd. has demonstrated exceptional growth over the past three years since incorporation in 2021. Profit generated by Jivial Industries Ltd. is through manufacturing of finished aluminium railings and fixtures (Aluminium Hand Railings, Aluminum railing, Aluminum Spigots, Aluminium Conceal, Aluminium Bend) for construction, architecture, and interior design sectors.
Coming to the performance part in regard to the financials, there has been outstanding performance of the company since its incorporation, as can be seen in the growth in Total Income, which increased from ₹8.40 crore in FY23 to ₹11.06 crore in FY24 to ₹12.07 crore in FY25, and to ₹12.20 crore in Dec 2025 (growth in steady manner). Moreover, the PAT of the company grew from ₹1.17 crore in FY23 to ₹2.41 crore in FY24, to ₹2.97 crore in FY25, and ₹2.95 crore in Dec 2025 (about 2.5x growth from FY23 to Dec 2025). Coming to the EBITDA of the company, it was ₹1.42 crore in FY23, ₹3.08 crore in FY24, ₹3.75 crore in FY25, and ₹3.76 crore in Dec 2025. It is notable that the margins have been extremely favorable because the EBITDA and PAT margins have been 31.08% and 24.33%, respectively, in Dec 2025. The ROE and ROCE of the company have been very high at 28.93% and 33.14%, respectively, in Dec 2025 (ROE was 41.09% and ROCE was 47.12% in Mar 2025). The RoNW is at 28.93% (Dec 2025). As far as the net worth of the firm is concerned, it grew from ₹1.53 crore in FY23 to ₹5.75 crore in FY24, to ₹8.72 crore in FY25, and ₹11.66 crore in Dec 2025 ( ~7.6x growth from FY23).
Action Links:
To apply for Jivial Industries Limited IPO, open a demat account here
Jivial Industries Limited IPO Subscription Status: Check live subscription here
Jivial Industries Limited IPO GMP Update: Check latest grey market premium here
Jivial Industries Key Highlights:
Jivial Industries Ltd is engaged in manufacturing of finished aluminium railings and fixtures including Aluminium Hand Railings, Aluminum railing, Aluminum Spigots, Aluminium Conceal, and Aluminium Bend.
Jivial Industries Limited has following advantages: Brand recognition is excellent, solid finances (outstanding margins: EBITDA 31.08% and PAT 24.33%), solid customer base, competent management, good ROE (28.93%) and ROCE (33.14%), and fast growth rate since formation in 2021 (approximately 2.5 times growth in PAT and 7.6 times growth in net worth). The company produces two types of railings: Continuous Profiles (supports glass below) and Handrails (supports glass above).
But in recent times, the company is showing consistent efficiency from the point of view of the financial performance of the firm, where the total profit earned by the business is ₹8.40 crore for FY23, ₹11.06 crore for FY24, ₹12.07 crore for FY25, and ₹12.20 crore for Dec 2025 (growth). But PAT is showing extraordinary growth from ₹1.17 crore for FY23, ₹2.41 crore for FY24, ₹2.97 crore for FY25, and ₹2.95 crore for Dec 2025 (~2.5x growth from FY23). EBITDA is showing growth from ₹1.42 crore for FY23, ₹3.08 crore for FY24, ₹3.75 crore for FY25, and ₹3.76 crore for Dec 2025 (~2.6x growth). The margin in relation to the EBITDA and PAT is at 31.08% for EBITDA and 24.33% for PAT (Dec 2025), which is extraordinarily high. The ROE and ROCE ratios are extraordinarily high at 28.93% and 33.14%, respectively (Dec 2025). Net Worth is showing extraordinary growth from ₹1.53 crore for FY23 to ₹5.75 crore for FY24 to ₹8.72 crore for FY25 and ₹11.66 crore for Dec 2025 (~7.6x growth). But the promoter dilution is extremely high at 33.37% (from 94.53% to 61.16% post-IPO).
Jivial Industries Risk Factors:
The risks of Jivial Industries Limited IPO are mentioned below:
Dependencies on Aluminium Products & Construction Industry: Dependencies on the customers of construction, architects, and interior designers for ordering the aluminium railings. Decreased level of construction activities could have a negative effect on revenue.
Price Fluctuations of Important Raw Materials: Dependence on aluminium products (unfinished extruded aluminium railings and aluminium castings), which are raw materials of production. Any change in the price level of aluminium would have a significant negative effect on profitability.
Environmental Regulation Issues: The manufacturing process has some environmental aspects such as emissions, waste disposal, etc.; failure to comply with regulations could be risky.
Liquidity Risk in Connection with the SME Listing on BSE: Listing of companies on BSE SME with raising of ₹31.99 Cr and capitalization of ₹91.52 Cr has certain risks connected with liquidity.
Risk in Connection with Dilution of Promoters Share After IPO: After the IPO, promoters share will decrease from the present 94.53% to 61.16%, i.e., there will be extremely high dilution.
Risk associated with Capex Execution: Risk is associated with capacity utilization and ROI generation in connection with the capex of ₹14.40 Cr for procurement of new machines and ₹4.00 Cr for renovation of manufacturing facilities.
Very New Company: The company was founded in 2021 and hence only 4-5 years old as compared to their competitors.
Small Workforce: Only 18 permanent employees (as of August 31, 2025).
No QIB Subscription: The IPO does not have any QIB subscription (NII 50% & Retail 50%).
Fixed Price Offer (Not Book Built): Fixed Price IPOs don't enable price discovery through book building process.
Jivial Industries Expert Analysis:
Jivial Industries's BSE SME IPO is a fixed-price issue (not book-built) with an issue price of ₹196.00 per share (face value ₹10). The total issue size is ₹31.99 Cr, comprising a fresh issue of ₹25.05 Cr, offer for sale of ₹5.34 Cr, and ₹1.60 Cr reserved for the market maker. The IPO is uniquely structured with NII (50.00%) and Retail (50.00%) investors only — NO QIB portion and NO anchor investors. The tentative listing is on BSE SME on 1st July 2026.
Basic details of the IPO:
Type of IPO: Fixed‑Price SME IPO (BSE SME) — NOT book-built
Uses of funds: Purchase of new machineries (₹14.40 Cr), Capital expenditure for renovation of manufacturing facility (₹4.00 Cr), General corporate purposes (₹3.99 Cr), Issue expenses (₹4.25 Cr)
IPO Timeline: Opens 23rd June 2026 | Closes 25th June 2026 | Allotment 29th June 2026 | Listing 1st July 2026 (BSE SME)
Lead Manager: Corporate Makers Capital Ltd. | Registrar: Bigshare Services Pvt. Ltd.
Expert View on the IPO:
This particular organization is involved in manufacturing completed aluminium railings and spigots (Aluminium Hand Railings, Aluminum railing, Aluminum Spigots, Aluminium Conceal, Aluminium Bend) for construction, architectural and interior designing industry. The firm has superb performance record and profitability (EBITDA margin 31.08%, PAT margin 24.33%), superb ROE (28.93%) and ROCE (33.14%) besides growth since its incorporation in 2021 (~2.5x PAT growth, ~7.6x net worth growth). The shares of the firm have P/E multiples of 21.83x before IPO and 23.29x after IPO with a P/B valuation ratio of 7.44x. However, when we look into the rival firms of aluminium products in the sector, there are Sudal Industries Ltd (RoNW 2.39%, Negative EPS), Euro Panel Products Ltd (P/E 16.05x, RoNW 18.5%) and Anb Metal Cast Limited (P/E 24.86x, RoNW 32.44%). In comparison to these rivals Jivial Industries has superb profitability (RoNW 41.09% in Mar 2025 vs. 2.39%, 18.5%, 32.44%), Jivial Industries has excellent profitability metrics (RoNW 41.09% in Mar 2025 vs. 2.39%, 18.5%, 32.44%; EBITDA margin 31.08% vs. peers' unknown; PAT margin 24.33% which is exceptional).
Should you invest in Jivial Industries?
An investor looking for a small-cap aluminium products manufacturing company listed on the SME board, with exceptional growth trajectory (~2.5x PAT growth from FY23 to Dec 2025, ~7.6x net worth growth), very high ROE (28.93%) and ROCE (33.14%), exceptional margins (EBITDA 31.08%, PAT 24.33%), and exposure to India's construction and interior design sector might find the IPO interesting ONLY IF comfortable with extremely high promoter dilution (33.37%), very young company (4-5 years old), small team (18 employees), no institutional investor participation (NO QIB), fixed-price issue (no price discovery), and SME listing liquidity constraints. Generally NOT recommended due to high promoter dilution, young company, and no QIB interest.
Consider investing when:
A manufacturing exposure to finished aluminium railing and fittings (Aluminium Hand Railings, Aluminum Spigots, Aluminium Conceal, etc.) for construction, architectural, and interior design industry with excellent profit margins (EBITDA 31.08%, PAT 24.33%), extremely high ROE (28.93%) and ROCE (33.14%), and fast growth from 2021 onwards is needed and you are comfortable with extremely high promoter dilution (33.37%), very young company (4-5 years old), small size of employees (18), absence of QIBs, and fixed price issue.
You are sure that there will be an increase in aluminium railings requirement in construction and interior design.
You feel that management will utilize IPO funds for buying new machinery (₹14.40 Cr) and renovating the manufacturing plant (₹4.00 Cr).
Do not invest when:
You will prefer investing in companies belonging to aluminium products industries that have been around for longer (over 10 years), have bigger size, involve QIBs, and low promoter dilution.
You are concerned regarding promoter dilution (33.37%), too new company (4-5 years), smaller size (18 employees), non-involvement of institutional investors (NO QIB), and fixed price issue.
Promoter dilution (94.53% to 61.16% after IPO), risk in execution of capex, and no QIB involvement do not suit you.
Investors are advised to exercise discretion and refer to the full DRHP/RHP document before reaching any investment decision. This analysis is for informative purposes and not investment advice.
Action Links:
To apply for Jivial Industries Limited IPO, open a demat account here
Jivial Industries Limited IPO Subscription Status: Check live subscription here
Jivial Industries Limited IPO GMP Update: Check latest grey market premium here
1. What is the Jivial Industries Limited IPO open and close date?
Jivial Industries BSE SME IPO opens on 23rd June 2026 and closes on 25th June 2026. The tentative listing date on BSE SME is 1st July 2026.
Track Jivial Industries Limited IPO subscription status live here from Finnpick.
2. What is the Jivial Industries Limited IPO price band and lot size?
The IPO is a fixed-price SME issue (not book-built) with an issue price of ₹196.00 per share (face value ₹10). The minimum bid for retail investors is 1,200 shares (2 lots), with subsequent bids in multiples of 600 shares. Minimum investment is ₹2,35,200.
3. What is Jivial Industries Limited IPO total size?
The total issue size is ₹31.99 Cr, comprising a fresh issue of ₹25.05 Cr, offer for sale of ₹5.34 Cr, and ₹1.60 Cr reserved for the market maker. The net offer to the public is 15,50,400 shares (7,75,200 to NII, 7,75,200 to Retail), after excluding 81,600 shares for Market Maker. NO QIB portion.
4. How to apply for the Jivial Industries Limited IPO?
Open a demat here (Zerodha/Upstox/AngelOne) or apply ASBA by June 25, 4 PM. Monitor Jivial Industries Limited IPO subscription tracker here. Ensure your demat account is active and UPI mandate is approved before the closing time.
5. How to check Jivial Industries Limited IPO Allotment Status?
The allotment date is on June 29th and can be checked on Bigshare Services Pvt. Ltd. RTA portal using PAN/DP ID.
6. What is Jivial Industries Limited IPO GMP today and subscription status?
Current Grey Market Premium (GMP) stands at ₹0 as of June 20, indicating listing at the price range of ₹196 - check daily updates of Jivial Industries Limited IPO GMP trends here and live subscription status here from June 23rd opening only on Finnpick.
7. What does Jivial Industries Limited specialize in?
Jivial Industries is engaged in manufacturing of finished aluminium railings and fixtures from unfinished extruded aluminium railings and aluminium castings. The company manufactures two main types: (i) Continuous Profiles (holding glass at bottom) and (ii) Handrails (holding glass at top with hand support design). Products include Aluminium Hand Railings, Aluminum railing, Aluminum Spigots, Aluminium Conceal, and Aluminium Bend. Incorporated in 2021. 18 employees as of August 2025.
8. When is the Jivial Industries Limited IPO listing date?
The IPO is scheduled to list on BSE SME on 1st July 2026, subject to final confirmation from the exchange. Basis of allotment is tentatively on 29th June 2026, with refunds and demat credits around 30th June 2026.
9. What are the Jivial Industries Limited IPO proceeds utilization details?
The IPO proceeds will primarily be utilized towards: Purchase of new machineries: ₹14.40 Cr, Capital expenditure for renovation of manufacturing facility: ₹4.00 Cr, General corporate purposes: ₹3.99 Cr, Issue expenses: ₹4.25 Cr.
10. Who are the promoters of Jivial Industries Limited?
The promoters of Jivial Industries Ltd. are Mr. Anand Jitendrabhai Chovatiya and Mrs. Sheetalben Anand Chovatiya. Pre-IPO promoter holding is 94.53%, which will dilute to 61.16% post-IPO (33.37% dilution) — extremely high dilution.
11. Should I apply for the Jivial Industries IPO?
You may consider applying ONLY IF you are comfortable with an SME-listed aluminium products manufacturing business (finished aluminium railings and fixtures) with exceptional margins (EBITDA 31.08%, PAT 24.33%), very high ROE (28.93%) and ROCE (33.14%), and rapid growth since 2021 incorporation (~2.5x PAT growth) BUT also comfortable with extremely high promoter dilution (33.37% from 94.53% to 61.16%), very young company (4-5 years old), small team (18 employees), NO QIB participation (only NII 50% + Retail 50%), and fixed-price issue (no price discovery). Generally NOT recommended due to high promoter dilution, young company, small team, and no institutional investor interest. Avoid if you prefer established companies (>10 years), larger teams, QIB participation, and lower promoter dilution. This is for informational purposes only and not investment advice; read the RHP/DRHP and consult a SEBI-registered advisor before investing.
