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PNN
New Delhi [India], June 24: The Bombay Stock Exchange (BSE) has approved the Draft Red Herring Prospectus of Jay Ambe Supermarkets Limited. The company plans to issue Up to 23,64,800 Equity Shares with a face value of 10 each in the forthcoming IPO. IPO objectives: The Issue Proceeds from the Fresh Issue will be utilized towards the following objects: 1) To Purchase of existing store of the company located at Nana Chiloda, Ahmedabad ("Acquisition of Identified Store") 2) To Purchase of fit-outs for Three (3) new stores 3) To meet the company's working capital requirements 4) General Corporate purposes The Book Running Lead Manager for the issue is Beeline Capital Advisors Private Limited and MUFG Intime India Private Limited is the Registrar to the Issue. About Jay Ambe Supermarkets Limited Jay Ambe Supermarkets Limited (JASL) was incorporated on November 23, 2020, and converted into the public limited on 25th February, 2025 having its registered office at Kudasan, Gandhinagar, and Gujarat, India. The company is engaged in the business of trading of FMCG (Fast-Moving Consumer Goods), Groceries, GMCD (General Merchandise, Consumer Durables), Fruits & Vegetables, Garments & Footwear, Toys, Gift Articles, and other House Hold items, through their 15 outlets across Gujarat. The Company is carrying on its business through retail marts via franchise model as well. CITY SQUARE MART, a brand under our company Jay Ambe Supermarkets Limited, began its journey in August 2018 with its first store in Kudasan, Gandhinagar. In the initial six years itself, the company expanded to 15 stores across Gujarat, establishing itself as a fast-growing retail chain in the region. Under the leadership of Mr. Jignesh Patel, who has over 19 years of national as well as international experience in the multi-brand retail business, CITY SQUARE MART has grown rapidly with a current footprint of Over 93,000 square feet of retail space and 15 stores in Gujarat. The company is committed to promote the supermarket trend with the objective of enhancing the retail shopping experience for all customer segments. By delivering best-in-class service, a wide product range, and fair prices, the company not only seeks to improve living standards but also emphasizes the importance of customer satisfaction over mere profit. For the period ended March 31, 2024, The Company reported revenue of 3,338.68 Lakhs, EBITDA of 316.08 Lakhs and PAT of 154.89Lakhs. For the period ended 30th September, 2024 the company reported Revenue of 1,822.64 Lakhs, EBITDA of 228.02 Lakhs and PAT of 127.37 Lakhs. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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