Ahmedabad-based jewellery retailer Kabra Jewels made a stellar debut on the NSE Emerge platform, listing at Rs 243.2 per share, a strong 90% premium over its issue price.
Kabra Jewels, a SME issue, opened its IPO on January 15, aiming to raise Rs 40 crore at a price band of Rs 121 to 128 per share. Ahead of the IPO, the company raised Rs 10.87 crore by allotting 8.49 lakh shares to anchor investors on January 14.
After the completion of the three-day bidding, the allotment of shares was finalised on January 20.
Kabra Jewels IPO: GMP
Prior to the official listing of the issue, the shares of the company in the grey market were trading at a premium of Rs 123, indicating an estimated listing price of Rs 251 per share which is 96.09% higher over the IPOs upper price of Rs 128 per share.
Kabra Jewels IPO: Subscription numbers
The Kabra Jewels IPO was subscribed 356.02 times overall on the final day of bidding. Retail subscriptions reached 384.9 times, NII at 556.9 times, and QIB at 154.53 times.
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Kabra Jewels IPO: Key highlights
The Kabra Jewels IPO was offered at a price band of Rs 121-128 per share. Retail investors could participate with a minimum lot size of 1,000 shares, requiring an investment of Rs 1,28,000. For high-net-worth individuals (HNIs), the minimum investment was set at 2 lots, or 2,000 shares, amounting to Rs 2,56,000.
The IPO was managed by Marwadi Chandarana Intermediaries Brokers, with Cameo Corporate Services acting as the registrar. Giriraj Stock Broking Private served as the market maker for the issue.
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