Jaikumar Constructions IPO Review, Dates, Allotment, Size, Bid Details, GMP & RHP

Last Updated Date: Aug 31, 2023

Let’s have a detailed review of the company and analytics of the Jaikumar Constructions Limited IPO release date, IPO offer price, subscription, Jaikumar Constructions IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.

Jaikumar Constructions IPO Review & Ratings

IPO Ratings & Review
Criteria	Ratings
Industry Sentiments	7.4/10
Industry Ranking	7.1/10
Company Background	8.2/10
Company Reputation	7.7/10
Competitive Edge	7.2/10
Financial Statements	8.0/10
Popularity Index	7.6/10
Promoters Reputation	8.0/10
Retail Appetite	7.5/10
Top Brokers Review	8.1/10
Overall Ratings	7.5/10
Star Ratings	★★★★☆

Summary of Jaikumar Constructions IPO

Jaikumar Constructions IPO

They have concentrated on developing luxury, yet affordable, housing in the residential segment and have recently ventured into development of commercial projects in Nashik.

They believe they have an established reputation and a track record of developing eco-friendly and luxurious projects through their emphasis on maximum compliance, contemporary architecture, modern amenities, strong project execution and quality construction in the real estate industry.

From FY 2016-17 to FY 2018-2019, as per the Restated Financial Statements

As per their Special Purpose Restated Standalone Financial Information, they have grown their revenue at a CAGR of 21.46% from Rs.8,457.46 lakhs to Rs.15,153.57 lakhs in Fiscal 2017 to Fiscal 2019 respectively.
Their earnings before interest, tax, depreciation and amortization (“EBITDA”) for the period ended January 15, 2020 and for the Financial years ended March 2019, 2018 and 2017 was Rs.1,306.25 lakhs, Rs.2,135.77 lakhs, Rs.1,469.10 lakhs and Rs.1,487.95 lakhs respectively.
Their Profit after Tax had been recorded at Rs.799.35 lakhs, Rs.1,277.05 lakhs, Rs.890.01 lakhs and Rs.1,044.16 lakhs for the period ended January 15, 2020 and for the fiscals 2019, 2018 and 2017 respectively.

The Promoter of this company is MR. MANOJ TIBREWALA. The lead managers to the issue are ARYAMAN FINANCIAL SERVICES LIMITED, GALACTICO CORPORATE SERVICES LIMITED. The Registrar to this issue is BIGSHARE SERVICES PRIVATE LIMITED.

List of Upcoming IPOs

Jaikumar Constructions IPO Dates / Launch Date

The opening and the closing date of Jaikumar Constructions IPO is not known yet.

Jaikumar Constructions IPO Subscription

Day / Date	QIB	NII	RII	Total Subscription
1st Day –
2nd Day –
3rd Day –
4th Day –
Shares Offered or Net Issue

The shares subscribed by the public will be updated here.

Jaikumar Constructions IPO Allotment Status

Here, you can find the Allotment Status of this IPO. Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment status is not disclosed till now.

Jaikumar Constructions IPO Listing Date

Find the dates below on basis of allotment, refund, listing and more:

Basis of Allotment Finalization	–
Refunds Initiation	–
Credit of Shares to Demat Account	–
Share Listing Date	–

Jaikumar Constructions IPO Price Band / Cash Price

The face value of each share is Rs.10, and the cash price of the IPO is [●].

Jaikumar Constructions IPO Size

This Initial Public Issue of 79,00,000 Equity Shares of Rs.10 each for cash at a price of Rs.[●] per equity share aggregating to Rs.[●] Lakhs.

Jaikumar Constructions IPO Share Offering

Issue: The Fresh Issue of 79,00,000 Equity Shares by their Company of Rs.10 each at a price of [●] per equity share aggregating to Rs.[●] lakh

Jaikumar Constructions IPO – Company Overview

Their Company, Jaikumar Constructions Limited, is a well established real estate developer from Nashik operating under the name “Parksyde”. Their Company is promoted by Mr. Manoj Tibrewala and family who have a presence in the real estate sector for over two decades.

Their Company was originally incorporated as a Limited Liability Partnership in the name and style of Jaikumar Constructions LLP on November 23, 2012 and was subsequently converted into a “Public Limited” on February 21, 2020.

Jaikumar Constructions Successful Deliveries

As on the date of this Draft Red Herring Prospectus, their Company and their subsidiary (JREPL) have constructed and delivered possession of approximately 6.93 lakhs sq. ft. and 4.50 lakhs sq. ft. of carpet area of residential units, respectively (which translates into a constructed area i.e. FSI and non-FSI area, of 9.03 lakhs sq. ft. and 5.95 lakhs sq. ft., respectively).

Jaikumar Constructions – Area of Business

Their Company, including their subsidiary has undertaken a significant amount of construction which makes them an important real estate player of Nashik. As on date, their Company has completed 5 out of 7 phases (consisting of having 17 out of 27 buildings) of its Parksyde Homes project, spread across an area of approximately 18 acres.

Further, their subsidiary, Jaikumar Real Estate Pvt. Ltd., has in the past completed the Parksyde Residences project, spread across an area of approximately 7.74 acres having 11 buildings in the year 2017.

Jaikumar Constructions IPO & Ongoing Projects

Their ongoing residential projects includes 2 phases of Parksyde Homes & 1 commercial project under their Subsidiary Company namely Parksyde Business Avenue and their planned residential project includes 3 phases of Parksyde Nest, wherein they expect to provide an estimated total carpet area of 9.90 lakhs sq. ft. (i.e. 13.31 lakhs sq. ft. of constructed area).

Jaikumar Constructions Focus and Capabilities

Their customer-centric business model focuses on designing and developing their products to address consumer needs across price points. They have capabilities to deliver a project from conceptualization to completion with fast turnaround time from acquisition to launch to completion, which focuses on de-risking and improving their return on investment.

They streamline their supply chain and construction processes with an aim to develop high quality products consistently and in a timely and cost efficient manner.

Jaikumar Constructions Limited: Business strategies

Continued focus on large developments in Nashik
Continue to strengthen relationships with key service providers and take benefit of scalability by outsourcing model
Focus on Meticulous Design of their Projects
Continue to maintain a low debt balance sheet
Flexibility in capital investment and mode of development

Jaikumar Constructions Ltd – Financial Statements

On the basis of Standalone statement:

Amount (in INR & Lakhs)
	31-March-20
Total Assets	10,139.54
Total Revenue	5,659.17
Total Expense	4,394.29
Profit After Tax	792.81

Earnings per Equity Share (in Lakhs)

Amount (in INR & Lakhs)
	31-March-20
Basic & Diluted	3.97

Jaikumar Constructions IPO – Promoters

The Promoter of this company is:

MR. MANOJ TIBREWALA

List of Related Parties (Key Managerial Personnel)

Ms. Neha Rane, Company Secretary and Compliance Officer
Mr. Prashant Borse, Chief Operating Officer
Mr. Bhojraj Ayer, Chief Financial Officer

Interest in promotion of the Company

Their Promoter is interested in their Company to the extent that he has promoted their Company and to the extent of his shareholding and the dividend payable, if any and other distributions in respect of the Equity Shares held by him.

Jaikumar Constructions IPO Offer Details or Issue Details

Particulars	No. Of Equity Shares
Equity Shares Offered	Up to 79,00,000 Equity Shares, aggregating up to Rs.[●] lakhs
Of which:
QIB Category	Upto [●] Equity Shares (not more than 50%)
Non-Institutional Portion
Retail Portion	Upto [●] Equity Shares (not less than 15%)
Net Offer to Public	Upto [●] Equity Shares (not less than 35%)
Equity Shares outstanding prior to the Issue	2,00,00,000 Equity Shares
Equity Shares outstanding after the Issue	2,79,00,000 Equity Shares

Jaikumar Constructions IPO Issue Object

Their Company intends to utilize the Net Proceeds for the following Objects:

a) Development of their residential project – “Parksyde Nest (Phase 1)”;
b) Further Investment in their subsidiary for part-financing the construction of “Parksyde Business Avenue”
c) Repayment of their outstanding unsecured loans; and
d) General Corporate Purposes.

Jaikumar Constructions Limited: Competitive Strength

Qualified and experienced management team
Their proven execution track record
Prominent presence in Nashik
Established name and reputation
Cash flow visibility through ongoing and planned projects & land reserves
Ability to create projects which redefine the surrounding geography and create value

Jaikumar Constructions IPO – Basis of the Offer Price

The Offer Price has been determined by their Company and the Selling Shareholder in consultation with the Lead Managers on the basis of the key business strengths.

Jaikumar Constructions IPO Qualitative factors

Qualified and experienced management team
Their proven execution track record
Prominent presence in Nashik
Established brand and reputation
Ability to create projects which redefine the surrounding geography and create value

Jaikumar Constructions IPO – Quantitative Factors

	Basic & Diluted EPS	RONW in %	NAV (Rs.)
31-Mar-17	20.88	208.83%	–
31-Mar-18	17.80	178.00%	–
*31-Mar-19	6.79	63.85%	10.00

Price to Earnings (P/E) ratio in relation to Price band of Rs.[●] of Rs.[●] per each

Particulars	P/E ratio
Highest	79.0
Average	21.8
Lowest	0.70

Jaikumar Constructions Limited: Competitive Peers

	Face Value (Rs.)	P/E	EPS (Rs.)	Return on Net Worth (%)	NAV per share (Rs.)
Jaikumar Constructions Limited	10	[●]	6.79	63.73%	10.00
Listed Peers
Kolte-Patil Developers Limited	10	14.02	10.47	10.06%	104.03
Arihant Superstructures Limited	10	29.66	0.59	2.12%	27.68
Prestige Estates Projects Limited	10	17.81	7.71	6.80%	113.33
Karda Constructions Limited	10	15.54	9.78	12.83%	76.62

Jaikumar Constructions IPO Lead Managers

Lead Managers

ARYAMAN FINANCIAL SERVICES LIMITED
60, Khatau Building, Ground Floor,
Alkesh Dinesh Modi Marg, Fort, Mumbai – 400 001
Tel: +91 – 22 – 6216 6999
Email: ipo@afsl.co.in, Website: www.afsl.co.in
Investor Grievance Email: feedback@afsl.co.in
Contact Person: Mr. Pranav Nagar / Mr. Vimal Maniyar
SEBI Registration No.: INM000011344GALACTICO CORPORATE SERVICES LIMITED
2nd Floor, Shree Gurudev Tower, Canada Corner, Nashik – 422 002.
Tel: +91 – 253 – 2319714, Email: info@galacticorp.com
Website: www.galacticocorp.com
Investor Grievance Email: investorgrievance@galacticocorp.com
Contact Person: Mr. Ajinkya Joglekar
SEBI Registration No.: INM000012519

Jaikumar Constructions IPO Registrar to Offer

Registrar to the Offer

BIGSHARE SERVICES PRIVATE LIMITED
1st Floor, Bharat Tin Works Building,
Makwana Road, Marol,
Andheri East,Mumbai – 400 059
Tel: +91 – 22 – 6263 8200;
Email: ipo@bigshareonline.com;
Website: www.bigshareonline.com
Investor Grievance Email: investor@bigshareonline.com;
Contact Person: Mr. Babu Raphael
SEBI Registration No.: INR000001385

Jaikumar Constructions IPO – Other Details

Statutory Auditor – M/s. A. S. BEDMUTHA & CO., CHARTERED ACCOUNTANTS
Legal Counsel to the Company – M/S. KANGA & COMPANY (ADVOCATES & SOLICITORS)
Bankers to the Company – [●]

Jaikumar Constructions IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review	Company Reputation	Competitive Edge	Financial Statement	Popularity Index	Promoters Reputation
Angel Broking	7.5/10	7.4/10	8.5/10	8.1/10	7.1/10
Sharekhan	7.2/10	7.1/10	8.6/10	8.1/10	7.2/10
Kotak Securities	7.3/10	7.5/10	8.4/10	8.1/10	7.3/10
ICICI Direct	7.3/10	7.3/10	8.7/10	8.1/10	7.1/10
IIFL	7.5/10	7.2/10	8.8/10	8.0/10	7.1/10
Edelweiss	7.5/10	7.4/10	8.4/10	8.3/10	7.2/10
Zerodha	7.4/10	7.1/10	8.5/10	8.1/10	7.0/10
5Paisa	7.1/10	7.1/10	8.4/10	8.1/10	7.1/10
Karvy	7.4/10	7.3/10	8.2/10	8.1/10	7.1/10
Motilal Oswal	7.1/10	7.1/10	8.6/10	8.3/10	7.2/10