Jivial Industries' initial public offering has opened to a tepid response on its first day of bidding, signaling cautious investor appetite for the aluminium systems manufacturer's debut listing.
The company launched its ₹31.99 crore issue on Tuesday, June 23, with a fixed price of ₹196 per equity share.
The subscription window remains open until Thursday, June 25, giving investors two more days to submit bids before the issue closes.
Jivial Industries manufactures aluminium systems and has outlined plans to enhance its production capacity through a new plant.
The proceeds from the IPO are intended to support this expansion, alongside general corporate purposes.
The face value of each equity share is set at ₹10.