Jyothy Laboratories settled at Rs 793.70 on BSE, a premium of 15.02% over IPO price of Rs 690.

The stock debuted at Rs 799, a premium of 15.79% over the IPO price. It hit a high of Rs 880 and a low of Rs 752.60. On BSE, 36.65 lakh shares were traded in the scrip.

The current price of Rs 793.70, discounts its year ended June 2007 EPS of Rs 33.20, by a PE multiple of 23.90. Face value per share is Rs 5.

The company had priced the IPO at the top end of the Rs 620-690 price band.

The IPO of Jyothy Laboratories received strong investor responce. The IPO was subscribed 45.83 times. The issue received bids for 20.30 crore shares as against the issue size of 44.30 lakh shares. The IPO closed on Tuesday, 27 November 2007.

The qualified institutional buyers (QIBs) category was subscribed 66.41 times, the non-institutional investors category was subscribed 49.89 times and the retail investors segment was subscribed 14.67 times.

The offer would constitute 30.52% of the post issue paid up capital of the company. Post-issue the stake of the promoters would be 69.47%.

Jyothy Labs is engaged in the fabric care, household insecticide, surface cleaning, personal care and air care segments of the Indian market. It offers branded products including fabric whitener, mosquito repellent, dishwashing, bath and incense products.

The company has drawn up Rs 40 crore capital expenditure plan for FY 2008. It plans to leverage the dominant Ujala brand with other branded fabric care products, utilise its wide distribution network and marketing expertise, improve efficiencies and manage costs and increase focus on supermarket and hypermarket sale.

The FMCG company reported a net profit of Rs 48.14 crore on sales of Rs 361.89 crore in year ended June 2007.

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