Jeyyam Global Foods Ltd IPO

About Jeyyam Global Foods Ltd

Jeyyam Global Foods Limited was incorporated as Kichoni Online Services Private Limited on March 24, 2008, as a private limited company under the provisions of the Companies Act, 1956 pursuant to Certificate of Incorporation issued by Registrar of Companies, Chennai, with the object to collect and sell data online. Shareholders of the Company at the EGM held on July 31, 2008 passed a special resolution for amendment in the Object Clause of the MOA of the Company and the objects of the Company were amended to include trading of FMCG products. The same was approved by the Registrar of Companies, Chennai vide its certificate dated September 17, 2008. The shareholders of the Company thereafter at the EGM held on May 09, 2009 passed a special resolution for change of the Name of the Company to `Jeyyam Products Private Limited'. Accordingly, the name of the company was changed to `Jeyyam Products Private Limited' vide Fresh Certificate of Incorporation consequent upon change of Name dated June 18, 2009 issued by Registrar of Companies, Chennai. Subsequently, the shareholders of the Company at the EGM held on February 19, 2015, passed special resolution for change in the Object clause of the MOA of the Company to replace all the existing Main Objects with a New Object relating to Manufacturing, processing and trading of Pluses, Food grains, etc, and for Name Change of the Company to `Jeyyam Global Foods Private Limited'. The change of Objects was approved by the Registrar of the Companies, Chennai vide its certificate dated February 20, 2015 and the name of the company was changed to `Jeyyam Global Foods Private Limited' vide Fresh Certificate of Incorporation consequent upon change of Name dated February 24, 2015 issued by Registrar of Companies, Chennai. Thereafter, shareholders of the Company at the EGM held on April 24, 2023, passed a special resolution for conversion of the Company from a Private Limited Company to a Public Limited Company and the same was approved by the Registrar of Companies, Chennai vide issue of Certificate of Incorporation Consequent upon conversion to public company dated May, 23, 2023. Thus, the Company was converted to a public company and the name of the Company was changed to `Jeyyam Global Foods Limited' with effect from May 23, 2023 and the Corporate identification number of the Company was changed to: U15400TN2008PLC066955.

The Indian food processing industry is among the largest in the nation in terms of growth, production, consumption and exports. Industry produces several food products such as meat, poultry, fisheries, fruits, vegetables, spices, milk and milk products, alcoholic beverages, plantations and grains. It also manufactures cocoa products and chocolates, confectionery, mineral water, soya-based items and high-protein foods. Since the liberalisation in August 1991, the government proposed and accepted multiple projects, for instance, creating foreign collaborations, joint ventures, 100% export-oriented units and industrial licenses to encourage growth and investment in the food processing industry. Foreign direct investment (FDI) in India was estimated at Rs. 2,934.1 crore (US$ 368.8 million) in FY21. India is a major producer of food in the world, with a large and growing market. The food and grocery retail market, valued at US$ 11.3 trillion in 2021, is also among the largest in the global economy. India's food processing sector is a sunrise sector that has gained prominence in recent years. Major processed food products exported from India include processed fruits and juices, pulses, guar gum, groundnuts, milled products, cereals preparations, oil meals and alcoholic beverages. India created history in agriculture and processed food exports by exporting products worth US$ 25.6 billion in FY22. Export of APEDA products stood at US$ 7.4 billion as of April-June 2022, up 31% compared with US$ 5.7 billion over the same period last fiscal, according to the Directorate General of Commercial Intelligence and Statistics. Furthermore, exports of processed fruits and vegetables grew by 59.1%; cereals and miscellaneous processed items grew by 37.66%; meat, dairy and poultry products grew by 9.5%; basmati rice grew by 25.5%; non-basmati rice grew by 5%; and miscellaneous products grew by 50%. The food sector is currently undergoing a transition in India. The Agricultural and Processed Food Products Export Development Authority (APEDA) forecasts that the sector will grow at a compounded annual growth rate (CAGR) of 3% between 2022 and 2030.

Over more than 15 years in food industry, the company specializes in manufacturing and/or processing and supply of Bengal Gram (locally known as `Chana'), Fried Gram, and Besan Flour to wide variety of market like Distributors, Large Retailers, Hotels, Restaurants, Caterers, Branded Supermarkets and Wholesalers. The Company is continuously engaged in undertaking research and development and is ready to enter into the B2C business of spices and masala, ready to cook and ready to eat foods, salt, sugar, soya and vermicelli, among others.

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