Jeyyam Global Foods Ltd. (JGFL) said it is entering the capital market on September 2 with an initial public offering of 1.34 crore equity shares to raise ₹79-82 crore to meet its expansion programme.

The price band has been fixed at ₹59-61 per share. One of the promoters is diluting 3% of his stake. Post the IPO, the promoters stake will come down to 66-67% from the existing 92%, the company said.

Out of the net funds raises, ₹19 crore will be utilised for capital expenditure, ₹35 crore for working capital needs, ₹15 core for general corporate purposes and for other purposes, a company executive said.

“We are setting up a three facilities – two in Maharashtra and one in Madhya Pradesh. Within a year’s time, we will be increasing the capacity of Fried Gram by 30%, clean and graded Chenna by 1.10 lakh tons per annum and Besan Flour by 30,000 tonnes,” he said.

The 20-year-old company specialises in manufacturing, processing and supply of Bengal Gram, Fried Gram and Besan Flour to a wide B2B segment. It ended FY24 with a topline of ₹630 crore against ₹380 crore in the year-earlier period.

According to the company executive, JGFL has lined up 15 products for the launch in the B2C segment such as soya, vermicelli, spices, masala, ready to cook, ready to eat foods, salt and sugar. “The unit to make Soya and Vermicelli will be installed in an upcoming unit in Salem,” he added.