The Jivial Industries initial public offering has shown significant improvement in subscription levels, reaching 34% subscription by 17:00 hours on Tuesday, 23 June 2026, according to latest BSE data. This represents a substantial increase from the 1% subscription recorded on day 1, as reported by LiveMint. The IPO received bids for 5.64 lakh shares against 16.32 lakh shares on offer, with the retail portion and Qualified Institutional Buyers (QIBs) portion yet to receive bids. The NII portion was booked at 2% on the first day, indicating growing investor interest in the aluminium railing systems manufacturer.
Incorporated in 2021, Jivial Industries manufactures aluminium railing systems and architectural hardware for residential, commercial, and infrastructure projects. As reported by Business Standard, the company manufactures finished aluminium railings and fixtures from unfinished extruded aluminium railings and aluminium castings, customized to customer specifications. The company's product portfolio includes continuous profiles that hold glass panels from the bottom, handrails that support glass from the top, and a range of aluminium fixtures such as spigots, brackets, jointers, locks, end caps, bends, and conceals. These products are primarily used to support glass installations in partitions, balconies, viewing windows, and building facades. The company serves a diverse customer base comprising construction companies, architects, interior designers, fabricators and glass solution providers, with a strong presence across Gujarat, Maharashtra and Chhattisgarh, while also exporting to Oman. Jivial Industries operates a manufacturing facility in Rajkot and plans to establish a second production unit to expand capacity and strengthen backward integration by adding aluminium extrusion capabilities.
For the nine months ended December 2025, the company reported revenue of ₹12.11 crore and a profit after tax of ₹2.95 crore, according to Business Standard reports. In FY25, Jivial Industries posted revenue of ₹12.07 crore and net profit of ₹2.97 crore, while maintaining a relatively low debt burden of ₹1.23 crore. The company has also secured three patents from the Government of India for its innovative spigot designs, developed by its promoter, Anand Jitendra Chovatiya. The company had 19 full-time permanent employees as of 31 May 2026, including KMP and SMP. The company intends to utilise the net proceeds from the fresh issue for purchasing new machinery, renovation and upgradation of its manufacturing facility, meeting issue-related expenses, and funding general corporate purposes.
The IPO comprises 16.32 lakh equity shares, including a fresh issue of 13.59 lakh shares and an offer-for-sale component of 2.72 lakh shares. As reported by Business Standard, the promoter and promoter group shareholding will dilute to 61.16% from 94.53% pre-offer. The issue and net issue will constitute 34.95% and 33.20% respectively of the post issue paid up equity share capital. The IPO is priced at ₹196 per equity share with a face value of ₹10 per share, and retail investors can apply for a minimum lot of 1,200 shares, translating to an investment of approximately ₹2.35 lakh. The equity shares will list on BSE's SME platform, with the issue opening on Tuesday, 23 June 2026 and concluding on Thursday, 25 June 2026.
