PT Niramas Utama Tbk, the company behind the renowned coconut-based food brand INACO, officially debuted on the Indonesia Stock Exchange (IDX) on Tuesday (7/7/2026). Trading under the ticker symbol JELI, the company successfully raised IDR 239.4 billion through an initial public offering (IPO) amid dynamic global economic conditions.
President Director of PT Niramas Utama Tbk, Yusuf Hamdani, stated that this strategic step marks an important milestone for the company. JELI shares opened at IDR 900 per share, the lower bound of the initial price range. High retail investor enthusiasm was evident from an oversubscription of up to 273.37 times in the pooling portion, making it one of the IPOs with the highest retail participation in 2026.
The IPO proceeds have been mapped out for four strategic priorities. The majority of the funds, approximately 56.70%, will be allocated as additional capital for a subsidiary, PT NPS, to boost the production capacity of gummy candy and jelly products. Meanwhile, the remainder will be used for capital expenditure on production machinery, logistics efficiency, partial repayment of short-term debt, and strengthening the company's operational working capital.
Despite recording a temporary adjustment in sales figures, INACO managed to demonstrate significant performance improvement through operational efficiency and cost optimization. According to the 2025 financial report, the company's net profit for the year surged sharply by 235.50 percent. This positive trend was driven by a product portfolio development strategy targeting higher margins.
As a food and beverage industry player operating for more than three decades, INACO is now strengthening its position in both domestic and international markets, including Australia, Singapore, and the United States. Director of PT Niramas Utama Tbk, Adhi S. Lukman, emphasized that this public capital injection provides a solid foundation for the company to continue innovating and expanding its distribution network in the future.
