Inaco (JELI) Sets IPO Price at Lower Bound of Range

PT Niramas Utama, the producer of INACO dessert products, has commenced its initial public offering (IPO) period today, Wednesday, 1 July 2026. The prospective listed company has set the offering price at Rp900 per share, which is the lower bound of the indicative range of Rp900 to Rp1,120 per share stated in the IPO prospectus. The company, which will use the stock ticker JELI, is offering 350 million shares, representing 25.93% of its issued and paid-up capital. The maximum proceeds from this corporate action on the Indonesia Stock Exchange (BEI) are expected to reach Rp315 billion. Approximately 51.04% of the funds raised will be used for equity participation in its subsidiary, PT NPS. A further 18.36% is allocated for capital expenditure, including the purchase, settlement, and installation of production machinery, equipment, and supplies to increase warehouse storage capacity and accelerate logistics processes. Around 10.63% will be used to repay a portion of short-term debt, while the remaining 19.97% will serve as working capital. Financially, the company’s top-line revenue has contracted for two consecutive years, declining by 6.02% in 2024 and a further 4.49% in 2025. Despite this, net profit surged dramatically by 592.51% in 2024 and climbed another 235.50% in 2025. The public offering period runs until 3 July 2026, with the shares scheduled to be listed on the Indonesia Stock Exchange on 7 July 2026.