Incorporated in 2021, Jivial Industries Limited is engaged in the manufacturing of finished aluminium railings and fixtures from unfinished extruded aluminium railings and unfinished aluminium castings.
The company specialises in producing over 50 variants of aluminium railings, stainless steel glass railings, and partition systems, primarily serving builders, architects, and contractors across India and 20+ global markets.
The company serves key real estate hubs across India, such as Rajasthan, Mumbai, and Gujarat, and exports internationally to the UAE, Saudi Arabia, UK, USA, and Australia.
They manufacture mainly two types of railings: (i) Continuous Profiles, used for holding the glass at the bottom and (ii) Handrails for holding the glass at the top, along with a design for hand support.
Products:
The company’s manufacturing unit is situated in Rajkot, Gujarat.
As of May 31, 2026, the company has 19 full-time permanent employees.
Business Strengths:
| Period Ended | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 14.11 | 10.25 | 6.94 | 2.16 |
| Total Income | 12.20 | 12.07 | 11.06 | 8.40 |
| Profit After Tax | 2.95 | 2.97 | 2.41 | 1.17 |
| EBITDA | 3.76 | 3.75 | 3.08 | 1.42 |
| NET Worth | 11.66 | 8.72 | 5.75 | 1.53 |
| Reserves and Surplus | 8.35 | 5.41 | 2.44 | 1.52 |
| Total Borrowing | 1.23 | 0.38 | 0.44 | 0.18 |
| Amount in ₹ Crore | ||||
| Company | Issue Type | Issue Size | Issue Price | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|
| Msafe Equipments Ltd. | SME | ₹66.42 Cr | ₹123 | ₹150.30 | +22.20% | ₹154.45 (+0.16%) |
| Kanishk Aluminium India Ltd. | SME | ₹29.20 Cr | ₹73 | ₹55.48 | -24.00% | ₹30.40 (-5.00%) |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Purchase of new machineries | 14.40 |
| 2 | Capital expenditure for renovation of manufacturing facility | 4.00 |
| 3 | General Corporate Purposes | 3.99 |
| 4 | Issue Expenses | 4.25 |
| Total | 26.65 |
| KPI | Dec 19, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 28.93% | 41.09% |
| ROCE | 33.14% | 47.12% |
| Debt/Equity | 0.04 | |
| RoNW | 28.93% | 41.09% |
| PAT Margin | 24.33% | 24.75% |
| EBITDA Margin | 31.08% | 31.23% |
| IPO Date | 23 to 25 Jun, 2026 |
| Listing Date | Wed, Jul 1, 2026 |
| Face Value | ₹10 per share |
| Lot Size | 600 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 16,32,000 shares (agg. up to ₹[.] Cr) |
| Reserved for Market Maker | 81,600 shares (agg. up to ₹[.] Cr) Sunflower Broking Pvt.Ltd. |
| Fresh Issue (Ex Market Maker) | 12,78,000 shares (agg. up to ₹[.] Cr) |
| Offer for Sale | 2,72,400 shares of ₹10 (agg. up to ₹[.] Cr) |
| Net Offered to Public | 15,50,400 shares (agg. up to ₹[.] Cr) |
| Share Holding Pre Issue | 33,10,000 shares |
| Share Holding Post Issue | 46,69,600 shares |
Mr. Anand Jitendrabhai Chovatiya and Mrs. Sheetalben Anand Chovatiya are the promoters of the company.
| Share Holding Pre Issue | 94.53% |
| Share Holding Post Issue | 61.16% |
As per our analysis and Based on the information we have, this is the output.
Allah knows best.
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