SJP Ultrasonic IPO Analysis: Should You Apply? GMP, Review & Details

SJP Ultrasonic is a SME IPO in the Other Electrical Equipment sector. Issue size is ₹23.45 crore.

SJP Ultrasonic IPO — Key Details

Company Overview

SJP Ultrasonic Ltd. is an end-to-end provider of plastic joining and automation solutions, primarily serving the automotive sector and various other industries including medical, electrical, electronics, textiles, FMCG, toys, food packaging, and defense. Established on January 27, 2012, the company focuses on B2B sales, offering a comprehensive range of specialized plastic products and services. Their competitive strengths include long-standing relationships with suppliers and customers, as well as quality certifications.

Financial Performance

Total income was ₹15.22 Cr in the year ending 31 Mar 2024, rising to ₹21.15 Cr by 31 Mar 2025, and further increasing to ₹26.63 Cr by 31 Mar 2026. Profit After Tax was ₹3.40 Cr in the year ending 31 Mar 2024, increasing to ₹4.17 Cr by 31 Mar 2025, and further rising to ₹5.24 Cr by 31 Mar 2026.

Objects of the Issue

The Company proposes to utilize the Net Proceeds from the Issue towards the following objects: 1. Funding Capital Expenditure towards the Purchase of Machineries (₹13.22 Cr) 2. Funding working capital requirements of the Company (₹4.92 Cr) 3. General Corporate Purposes (₹3.05 Cr) 4. Issue Expenses (₹3.16 Cr) Totaling ₹24.34 Cr.

Strengths & Weaknesses

Strengths

SJP Ultrasonic offers a comprehensive range of plastic welding solutions and has established long-term relationships with both suppliers and customers, which may facilitate future growth.

Understanding Grey Market Premium (GMP)

The Grey Market Premium (GMP) is an unofficial indicator of the demand for an IPO before it lists on the stock exchange. It reflects the price at which shares are expected to trade in the grey market, which is outside the regulated stock exchanges. A higher GMP suggests strong demand, while a lower GMP may indicate weaker interest.

Peer Comparison

• SJP Ultrasonic Ltd. has a NAV of ₹15.73 and a RoNW of 28.1%.
• Unique Circle Automation Private Limited has a NAV of ₹33,518.49 and a RoNW of 22.41%.
• Rinco Ultrasonics India Private Limited has a NAV of ₹597.93 and a RoNW of 12.64%.

IPO Timeline

The IPO process includes several key dates: the opening date for subscription is on 30 September 2026, closing on 5 October 2026, with allotment expected on 6 October 2026 and listing on 8 October 2026.

Should You Apply for SJP Ultrasonic IPO?

Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their overall investment strategy, considering factors such as market conditions and the company's growth potential.

Investors who prefer stable returns and are risk-averse may want to avoid IPOs like this, as they can be subject to significant price fluctuations in the early trading days.

This is general risk-profile education, not a personal recommendation to apply or avoid this specific IPO — TopFund is not a SEBI-registered investment adviser.

Listing Day Risks

Listing-day gains can be unpredictable. While some IPOs may see a significant jump in price, others may not perform as expected. Factors influencing listing performance include market conditions, investor sentiment, and the company's fundamentals.

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Disclaimer: This is educational content, not investment advice. GMP is an unofficial grey-market indicator, unregulated and never guaranteed. TopFund is not a SEBI-registered investment adviser — please do your own research or consult a qualified adviser before applying to any IPO.