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

PT Niramas Utama has commenced its public offering period for its Initial Public Offering (IPO) today, Wednesday (1/7/2026).

The prospective issuer of the INACO dessert brand has set its offering price at Rp900 per share. This price represents the lower end of the price range of Rp900 to Rp1,120 per share specified in the IPO prospectus.

In its listing on the Indonesia Stock Exchange (IDX), the company is offering 350,000,000 shares, representing 25.93% of its placed and paid-up capital. Consequently, the maximum funds raised from the IPO are expected to reach Rp315 billion.

The prospective issuer, which will use the stock code JELI, intends to use 51.04% of the IPO proceeds for capital injection into its subsidiary, PT NPS, in the form of equity.

Approximately 18.36% will be allocated for capital expenditure, including but not limited to the purchase, settlement, and installation of production machinery, equipment, and supplies, to increase warehouse storage capacity and accelerate logistics processes.

Furthermore, about 10.63% will be used to repay a portion of short-term debt, while the remaining 19.97% will be utilised as working capital.

In terms of nominal figures, JELI’s top-line revenue has actually experienced consecutive contractions over the last two years. Sales shrank by 6.02% in 2024 and declined further by 4.49% in the 2025 period.

However, the company’s net profit surged drastically by 592.51% in 2024 and continued to climb by 235.50% in 2025.

The public offering period is set to end on 3 July 2026, with the official listing on the IDX scheduled for 7 July 2026.