Kabra Jewels shares make stellar market debut, list 90% higher on NSE SME at ₹243

Kabra Jewels IPO Listing : Kabra Jewels shares made a stellar stock market debut on Wednesday, January 22, as they got listed at ₹ 243 apiece on the NSE SME, a premium of 90% over the issue price of ₹ 128. The stock further rallied post-listing to reach ₹ 255.35 apiece, marking an almost 100% jump from the IPO price, effectively doubling investors' wealth in just a single day. The SME IPO, valued at ₹ 40 crore, was open for subscription from January 15 to January 17, with a price band between ₹ 121 and ₹ 128 per share. The issue was entirely a fresh offering of 31.25 lakh shares. The IPO received a robust response, with an overall subscription of 356 times. Notably, the non-institutional investor (NII) segment was oversubscribed by 556 times, while the retail portion saw an oversubscription of 384 times. The QIB portion was booked at 154.53 times, as per the exchange data. The company intends to utilise the proceeds of the issue for the repayment of certain borrowings availed by the company, in part or in full, to meet working capital requirements and general corporate purposes. Marwadi Chandarana Intermediaries Brokers is the book-running lead manager of Kabra Jewels IPO, while Cameo Corporate Services is the registrar for the issue. The market maker for Kabra Jewels IPO is Giriraj Stock Broking Private Limited. For retail investors, the company set a minimum subscription value of ₹ 1,28,000 for each lot of 1,000 shares. About Kabra Jewels The company operates in the retail jewellery sector; it sells a wide range of jewellery products in the gold, diamond, and silver categories, which are studded with precious and semi-precious stones. Its product offerings include rings, earrings, pendants, nose rings, bracelets, chains, necklaces, bangles, and customized jewellery for weddings. The company has six showrooms under the brands KK Jewels Bridal, KK Jewels Diamond, KK Jewels Silver, KK Jewels Gold, KK Jewels - Atarashi, and KK Jewels - Silver Studio; 3 offices; and one exhibition centre located in the city of Ahmedabad, as per the company's RHP report. Disclaimer : The views and recommendations given in this article are those of individual analysts. These do not represent the views of Mint. We advise investors to check with certified experts before taking any investment decisions.