# Jay Jagdamba Limited: IPO analysis > Jay Jagdamba Limited (CIN U27100MH2004PLC447688) has filed a Updated Draft Red Herring Prospectus with SEBI for an IPO comprising an offer for sale of 1.5 Cr shares. In FY26 it reported revenue of ₹3,162 Cr (+44.1% on FY25) and a net profit of ₹262 Cr. Promoters hold 98.7% before the IPO. Our earlier look-up of its claims found 6 medium or high concerns across 38 claims looked up. - Page: https://ipo.innerkore.com/in/company/U27100MH2004PLC447688/jay-jagdamba-limited/ - CIN: U27100MH2004PLC447688 - Last updated: 25 Aug 2026 ## Key facts - **Company:** Jay Jagdamba Limited - **CIN:** U27100MH2004PLC447688 - **Filing stage:** UDRHP - **Latest SEBI filing:** 25 Aug 2026 - **Offer for sale:** 1,50,00,000 shares - **Listing on:** BSE, NSE - **Revenue FY26:** ₹3,162 Cr - **Revenue growth:** +44.1% - **Net profit FY26:** ₹262 Cr - **Revenue CAGR FY24 to FY26:** 46.2% - **Promoter holding (pre-IPO):** 98.7% - **Registrar:** MUFG Intime India Private Limited - **Earlier look-up flags:** 0 high, 6 medium, 6 low ## Key signals (read from the filing; not investment advice) - **Growth** (looks fine): 46.2% a year. Sales FY24 to FY26; latest year +44.1%. - **Profitability** (look closer): 8.3% net margin. FY26; operating margin improving. - **Debt** (look closer): 0.64x equity. ₹1,339 crore borrowed at the end of FY26. - **Profit into cash** (look closer): 50% of profit. Operations brought in ₹130 crore against ₹262 crore of profit in FY26. - **One-off income** (looks fine): 9% of profit. Other and one-off income is 9% of pre-tax profit. - **Where the money goes** (concern): All for sale. Entirely an offer for sale: the company receives nothing. - **Red flags** (look closer): 6 to review. 38 claims looked up earlier: 0 high, 6 medium concern. ## Financial snapshot (₹ crore unless stated; consolidated) | | FY24 | FY25 | FY26 | |---|---:|---:|---:| | Sales | 1,479 | 2,194 | 3,162 | | Sales growth | – | 48.4% | 44.1% | | Operating profit | 158 | 343 | 584 | | Operating margin | 10.7% | 15.6% | 18.5% | | Net profit | 52 | 161 | 262 | | Net margin | 3.5% | 7.3% | 8.3% | | Net worth | 612 | 1,614 | 2,089 | | Borrowings | 720 | 856 | 1,339 | | Return on equity | 8.4% | 10.0% | 12.5% | ## Use of proceeds (fresh issue) - Pre-payment or re-payment of a portion of certain outstanding borrowings availed by our Company: ₹450 crore - General corporate Purposes(1)(2): amount not fixed yet ## Claims looked up earlier - **MEDIUM** (PromoterBackground): There are outstanding legal proceedings involving the Company, Subsidiaries, Directors, and Promoters.. The search results indicate various legal proceedings and cases involving entities or individuals associated with the Jagdamba group or related matters, such as an arrest of the Chairman and a loan misuse case. This suggests that the claim regarding outstanding legal proceedings might be substantiated by the context found in the search results. - **MEDIUM** (PromoterBackground): Agreements entered into by the company could be within the purview of the Competition Act, which prohibits practices that have an appreciable adverse effect on competition in India.. The search results indicate various legal and regulatory issues involving entities related to the Jagdamba Group, including arrests of the Chairman and involvement in loan misuse cases and settlement orders. This suggests that agreements entered into by the company might indeed fall under scrutiny by competition laws. - **MEDIUM** (SubsidiaryPerformance): The company name was changed to “Jay Jagdamba Concast Private Limited” pursuant to a Board resolution dated November 29, 2005.. One search result suggests that the name of the company was changed to 'Jay Jagdamba Concast Private Limited', which partially corroborates the claim. However, other results mention different entities like 'Jai Venktesh Concast Private Limited' and 'Jagdamba Timbers Private Limited', which introduces ambiguity regarding the exact change mentioned in the DRHP claim. - **MEDIUM** (LitigationStatus): Except as disclosed below, there is no pending litigation involving our Group Companies which will have a material impact on our Company or the Offer, as applicable, as on the date of this Updated Draft Red Herring Prospectus-I.. Search results include a reference to a case involving Jay Jagdamba Limited and Wada Ingots Pvt. Ltd., which might relate to pending litigation. Another result mentions a corporate debtor, Jagdamba Industries Limited, being admitted, which is relevant to the group. However, the results do not explicitly confirm or deny the claim regarding pending litigation with a material impact. - **MEDIUM** (LitigationStatus): Other than as disclosed under “Outstanding Litigation and Material Developments – Litigations filed against our Promoters – Criminal Proceedings” on page 425, there are no actions by regulatory and statutory authorities filed against our Promoters.. The search results include references to a case involving Amit Kumar Shukla vs Union Of India and a case where Jay Jagdamba Limited was mentioned, which might relate to the claim about actions by regulatory and statutory authorities against the promoters. However, the results do not definitively confirm or deny the specific statement from the DRHP. - **MEDIUM** (SubsidiaryPerformance): Floral Life Pte. Limited became the Promoter by acquiring 2,30,965 Equity Shares on June 12, 2019.. The search results mention Floral Life Pte. Limited as a promoter entity in connection with an Offer For Sale (OFS) related to an IPO, but they do not confirm the specific claim that Floral Life Pte. Limited acquired 2,30,965 equity shares on June 12, 2019. - **LOW** (SubsidiaryPerformance): Peers in the stainless steel manufacturing industry include Viraj Profiles Private Limited, Mukand Limited, Chandan Steel Limited, Laxcon Steels Limited, Ambica Steel Limited, and Welspun Specialty Solutions Limited.. Search results confirm the existence and activity of Viraj Profiles Private Limited, mentioning their manufacturing facilities, revenue, and international presence. This corroborates the inclusion of Viraj Profiles Private Limited in the list of peers mentioned in the DRHP. - **LOW** (SubsidiaryPerformance): Peers among manufacturers of seamless pipes include Venus Pipes and Tubes Limited, Ratnamani Metals and Tubes Limited, Scoda Tubes Limited, and Suraj Limited.. The search results provide information about Scoda Tubes Limited, showing its share price data, which relates to one of the companies mentioned in the claim. However, the search results do not mention Venus Pipes and Tubes Limited, Ratnamani Metals and Tubes Limited, or Suraj Limited. - **LOW** (SubsidiaryPerformance): The company name was changed to “Shree Jay Jagdamba Stainless Steel Private Limited” pursuant to a resolution passed on February 25, 2011.. One search result suggests that the name of the company was changed to 'Shree Jay Jagdamba Stainless Steel Private Limited', which aligns with the claim. However, the search results do not specify the date of this change (February 25, 2011) mentioned in the DRHP. - **LOW** (SubsidiaryPerformance): Key manufacturers include Mukand Ltd, Viraj Profiles Pvt. Ltd., Synergy Steel, Sunflag Iron and Steel, Laxcon Steel Ltd, Ambica Steels Ltd, and Jay Jagdamba Limited, which cater to 65-75% of the total market demand.. The search results confirm that Jay Jagdamba Limited is a stainless steel products maker engaged in manufacturing and exporting, but they do not explicitly confirm the list of key manufacturers mentioned in the DRHP or the claim about catering to 65-75% of the market demand. - **LOW** (LitigationStatus): The Board resolved that certain companies are Group Companies according to the SEBI ICDR Regulations.. The search results reference legal cases involving entities like Jay Jagdamba Limited and other companies, which might relate to group structures or proceedings, but they do not directly confirm or deny the Board resolution mentioned in the DRHP regarding companies being Group Companies under SEBI ICDR Regulations. - **LOW** (SubsidiaryPerformance): The company name was changed to “Shree Jay Jagdamba Stainless Steel Limited” upon conversion to a public limited company pursuant to a Board resolution dated March 28, 2011.. The search results mention a change in the company name to 'Shree Jay Jagdamba Stainless Steel Private Limited' in relation to an IPO, which is related but does not directly confirm the specific claim about the change occurring upon conversion to a public limited company on March 28, 2011. ## Common questions ### How big is the Jay Jagdamba Limited IPO? Jay Jagdamba Limited's IPO comprises an offer for sale of 1.5 Cr shares, according to its Updated Draft Red Herring Prospectus. The price band has not been announced yet: draft filings leave it blank and it is set in the Red Herring Prospectus. ### What are Jay Jagdamba Limited's revenue and profit? Jay Jagdamba Limited reported revenue from operations of ₹3,162 Cr in FY26, +44.1% versus FY25. Net profit was ₹262 Cr (FY25: ₹161 Cr). Revenue grew at a compound rate of 46.2% a year from FY24 to FY26. Figures are read from the UDRHP, as printed there. ### How much do promoters own in Jay Jagdamba Limited? Promoters hold 98.7% of Jay Jagdamba Limited before the IPO. ### How will Jay Jagdamba Limited use the IPO money? The fresh-issue proceeds are earmarked for: Pre-payment or re-payment of a portion of certain outstanding borrowings availed by our Company (₹450 Cr); General corporate Purposes (amount not fixed yet). The offer-for-sale portion goes to the selling shareholders, not the company. ### What are the red flags in Jay Jagdamba Limited's UDRHP? Earlier, we looked up 38 claims from the filing on the open web (we no longer do this, since SEBI reviews the filing): 0 raised a high concern, 6 medium and 6 low. The most notable: The search results indicate various legal proceedings and cases involving entities or individuals associated with the Jagdamba group or related matters, such… The search results indicate various legal and regulatory issues involving entities related to the Jagdamba Group, including arrests of the Chairman and… One search result suggests that the name of the company was changed to 'Jay Jagdamba Concast Private Limited', which partially corroborates the claim.… This is an automated screen, not a verdict; each finding links to its sources. ### What does Jay Jagdamba Limited do? Before you invest a single penny in the JAY JAGDAMBA IPO, you need to know this: search results reveal serious legal proceedings, including an arrest of the Chairman and a loan misuse case, tied to the Jagdamba group. This isn't just corporate news; it raises significant red flags about the foundation of this offering. ### Who manages the Jay Jagdamba Limited IPO? Registrar to the offer: MUFG Intime India Private Limited. Shares are proposed to list on BSE and NSE. ### Where can I read the original Jay Jagdamba Limited IPO documents? All 2 filings for Jay Jagdamba Limited (UDRHP, DAP) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [JAY JAGDAMBA LIMITED - UDRHP](https://www.sebi.gov.in/sebi_data/attachdocs/aug-2026/1787637173016.pdf) (Updated Draft Red Herring Prospectus, filed 25 Aug 2026) - [JAY JAGDAMBA LIMITED - UDRHP](https://www.sebi.gov.in/sebi_data/commondocs/aug-2026/Jay%20Jagdamba%20Limited%20Draft%20Abridged%20Prospectus_p.pdf) (Abridged prospectus (DAP), filed 25 Aug 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.