Q1. What is the business of Jerai Fitness Limited?

Jerai Fitness designs, manufactures and distributes gym & fitness equipment like strength-training machines, cardio gear and accessories for commercial gyms, hotels, corporates, real-estate projects and export markets across India and abroad.

Q2. Why is the company raising funds via IPO?

The IPO is a 100% Offer-for-Sale (OFS), so promoters are selling part of their existing shares to provide liquidity. The company will not receive any fresh capital.

Q3. What is the size of the issue and where will it list?

The issue size is up to 4,392,500 equity shares all being as OFS. It will be listed on the BSE & NSE platform.

Q4. What are the risks to an investor?

Risks to investing in the IPO includes fluctuating raw-material prices which is primarily steel, stiff competition from imported equipment makers, possible order slowdowns if gym-industry growth is impacted and low repeat demand as gym equipment is durable and lasts for more than 10+ years.

Q5. What are the potential upsides?

Upsides to investing in the IPO includes strong profitability margins, a wide and diversified client base (gyms, hotels, export markets), and rising fitness-industry penetration in India which could drive steady long-term demand.

Q6. How to apply for the IPO?

Via your brokerage/demat or UPI-enabled platform, select Jerai Fitness IPO, enter desired lots and bid price, provide UPI ID, approve payment mandate.

Jerai Fitness Limited IPO

Upcoming

Jerai Fitness Limited IPO

Market Cap

—

IPO Issue Size

~ 4,392,500 equity shares

Expected IPO Price by ipo corner

—

0

Rating

Jerai Fitness Limited is a manufacturer and distributor of fitness equipment producing strength-training machines, cardiovascular equipment, free weights and fitness accessories for gyms, hotels, corporates, real-estate projects and other clients in India and abroad.The company has filed a draft red-herring prospectus (DRHP) and proposed an IPO via a 100% Offer-for-Sale (OFS) of up to 4,392,500 equity shares (face value ₹10 each).

Jerai Fitness Limited was incorporated in the year 1994.Mr. Rajesh Ramsukh Rai is the MD of the company.

Jerai Fitness manufactures and supplies a wide range of gym and fitness equipment – including strength-training machines, free weights, cardio equipment and multi-station gym setups – targeting commercial gyms, hotels, corporates, real-estate wellness centres and export markets too.The company claims a pan-India network of 14 exclusive showrooms. They also claims to have their equipment is used in over 12,000 gyms and by up to 12 crore gym-members across India.

Subscription date to apply for Jerai Fitness Limited starts and closes on TBA. Price band for the IPO is TBA.

~ 4,392,500 equity shares

Fresh Issue

N/A

Offer for Sale

~ 4,392,500 equity shares

Year	2025
Networth	₹ 104.56 Cr
Revenue	₹ 128.04 Cr
EBITDA	₹ 31.22 Cr
PAT	₹ 23.40 Cr
EBITDA Margin	~24.38%
PAT Margin	~18.28%
Face Value	Rs. 10 per Equity Share

IPO Important Dates

#	Date
Open Date	TBA
Close Date	TBA
Anchor Investor Bidding	TBA
Allotment Date	TBA
Refunds& Demat Credit	TBA
Tentative Listing Date	TBA

Use Of Proceeds

Purpose	Amount
-	-
-	-
-	-
-	-
-	-
-	-

Financial Data

#	2023	2024	2025
Revenue (₹ Cr)	₹ 115.4	₹ 108.5	₹ 128.0
PAT (₹ Cr)	₹ 19.3	₹ 18.0	₹ 23.4
Asset (₹ Cr)	₹ 106.9	₹ 121.4	₹ 155.6
Net Worth (₹ Cr)	₹ 63.2	₹ 81.2	₹ 104.6

IPO Grey Market Premium

Date	IPO Price	IPO GMP	Profit Per Lot
17-July	₹ –	₹ –	₹ –
16-July	₹ –	₹ –	₹ –
15-July	₹ –	₹ –	₹ –
14-July	₹ –	₹ –	₹ –
13-July	₹ –	₹ –	₹ –

Pros

Strong revenue and profit growth makes Jerai a financially healthy and expanding fitness-equipment manufacturer.
Wide product portfolio and in-house manufacturing reduce import dependency and improve margins.
Diversified customer base across gyms, hotels, corporates and institutions lowers business concentration risk.
Growing exports and presence in multiple countries provide global growth opportunities.
Rising fitness awareness in India creates strong long-term demand for gym equipment.

Cons

Entire IPO is an Offer-for-Sale, so the company receives no new capital for expansion.
Fitness-equipment demand is cyclical and sensitive to economic slowdowns.
Raw-material price fluctuations can impact margins and production stability.
Low repeat-purchase nature of fitness equipment limits recurring revenue.
Heavy competition from domestic and imported brands may pressure pricing and market share.

Promoters – Pre offer equity (Approx)

Promoters	% Shares
Rajesh Ramsukh Rai	~60%
Rinku Rajesh Rai	~30%
-	-
-	-
-	-
-	-

Lot Size details

Application Type	Lot Size	No. of Lot	No. of Shares	Investment Amount
Retail (Min)	–	1	–	₹ –
Retail (Max)	–	13	–	₹ –
HNI (Min)	–	14	–	₹ –
HNI (Max)	–	66	–	₹ –
Big HNI (Min)	–	67	–	₹ –

Key Performance Index (KPI)

ROE	00
ROCE	00
RoNW	00

Lead / Book Running Lead Managers

Emkay Global Financial Services Ltd. ,Catalyst Capital Partners Pvt. Ltd

Registrar (RTA)

Bigshare Services Private Limited

Q1. What is the business of Jerai Fitness Limited?
Jerai Fitness designs, manufactures and distributes gym & fitness equipment like strength-training machines, cardio gear and accessories for commercial gyms, hotels, corporates, real-estate projects and export markets across India and abroad.
Q2. Why is the company raising funds via IPO?
The IPO is a 100% Offer-for-Sale (OFS), so promoters are selling part of their existing shares to provide liquidity. The company will not receive any fresh capital.
Q3. What is the size of the issue and where will it list?
The issue size is up to 4,392,500 equity shares all being as OFS. It will be listed on the BSE & NSE platform.
Q4. What are the risks to an investor?
Risks to investing in the IPO includes fluctuating raw-material prices which is primarily steel, stiff competition from imported equipment makers, possible order slowdowns if gym-industry growth is impacted and low repeat demand as gym equipment is durable and lasts for more than 10+ years.
Q5. What are the potential upsides?
Upsides to investing in the IPO includes strong profitability margins, a wide and diversified client base (gyms, hotels, export markets), and rising fitness-industry penetration in India which could drive steady long-term demand.
Q6. How to apply for the IPO?
Via your brokerage/demat or UPI-enabled platform, select Jerai Fitness IPO, enter desired lots and bid price, provide UPI ID, approve payment mandate.