The issue opened for bidding on Monday (25 September 2023) and it will close on Wednesday (27 September 2023). The price band of the IPO is fixed at Rs 44 to Rs 47 per share. The minimum order quantity is 3,000 shares. The equity shares are proposed to be listed on the SME Platform of National Stock Exchange of India (NSE EMERGE).

The IPO comprises fresh issue of 84,96,000 shares. About 4,26,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 80,70,000 equity shares. The issue and the net issue will constitute 26.40% and 25.07%, respectively of the post issue paid-up equity share capital of the company.

The company intends to utilize the net proceeds for expansion of refurbishment facility and purchase of plant, machinery and equipment, investment in technology development, branding & marketing, funding working capital requirement, Repayment of Bank facilities and general corporate purposes.

Ahead of the IPO, Newjaisa Technologies on 22 September 2023, raised Rs 11.36 crore from the anchor investors. The board allotted 24,18,000 shares at Rs 47 per share to 5 anchor investors.

Newjaisa Technologies is engaged into direct sales of IT products i.e laptops/ chromebooks, desktops/chromeboxes/ monitors and accessories (keyboard, mouse, WiFi, Speakers) which is its key revenue model. The company currently focused and operates in Indian market and caters to Pan India customer base via ecommerce and online platforms and caters its products across industries. The four key customer segments include students, home users, SME and working professionals. As on 31 August 2023, the company has 99 employees and 248 interns.

The company recorded revenue from operations of Rs 44.52 crore and net profit of Rs 6.75 crore for the period as on 31 March 2023.