Jay Ambe Supermarkets Limited Seeks IPO Approval from BSE
The Bombay Stock Exchange has approved Jay Ambe Supermarkets Limited's Draft Red Herring Prospectus for an IPO. The proceeds will fund acquisitions, new store fit-outs, working capital, and general corporate needs. Established in 2020, the company operates 15 stores in Gujarat, reporting significant financial growth for 2024.
- Country:
- India
New Delhi, June 24: The Bombay Stock Exchange (BSE) has granted approval for the Draft Red Herring Prospectus of Jay Ambe Supermarkets Limited, as they prepare to launch an Initial Public Offering (IPO).
The company intends to distribute up to 23,64,800 equity shares at a face value of ₹10 each. The IPO proceeds are earmarked for acquiring an existing store in Ahmedabad, outfitting new stores, meeting working capital requirements, and covering general corporate purposes.
Formed in November 2020, Jay Ambe Supermarkets has swiftly expanded across Gujarat with its brand, CITY SQUARE MART. Under the experienced leadership of Mr. Jignesh Patel, the company strives to enhance customer shopping experiences, as evidenced by impressive revenue and profit figures reported for 2024.
(With inputs from agencies.)
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