The initial public offering of Kabra Jewels Ltd. opened for subscription on Wednesday and was booked over 12 times led by demand from retail investors.
The company engaged in the retail jewellery business is offering to raise Rs 40 crore from the primary market. It is an entirely fresh issuance of 31.25 lakh shares with no offer for sale component.
Here's all you need to know about the Kabra Jewels SME IPO as bidding on Day 2 resumes.
Kabra Jewels IPO Key Details
Kabra Jewels' IPO price band has been set in the range of Rs 121 to Rs 128 with a face value of Rs 10 per share. Retail investors may submit their bid with a minimum lot size of 1,000 shares resulting in an investment of Rs 1,28,000 for a single application.
As per the company's RHP document, of the 31,25,000 shares offered:
5,67,000 (18.14%) is reserved for Qualified Institutions
4,26,000 (13.63%) is reserved for Non-Institutional Buyers
9,93,000 (31.78%) is reserved for Retail Investors
8,49,000 (27.17%) is reserved for Anchor investors.
Kabra Jewels had raised Rs 10.87 crore from anchor investors ahead of the IPO opening for bidding on Wedneday. The company has appointed Marwadi Chandarana Intermediaries Brokers Pvt. as the sole book-running lead manager for the issue whereas Cameo Corporate Services Ltd. is its registrar. Giriraj Stock Broking Pvt. is the market maker for Kabra Jewels IPO.
Kailash Kabra and Jyothi Kailash Kabra are the promoters of the company.
Kabra Jewels IPO Day 2 Subscription Status
The IPO has been subscribed 41.41 times as of 4:00 p.m. on Thursday, as per Chittorgarh
Qualified Institutions: 0.78 times
Non-Institutional Buyers: 29.03 times
Retail Investors: 69.92 times
Subscription status will be updated at regular intervals.
What is Kabra Jewels IPO GMP Today?
Kabra Jewels IPO GMP today is Rs 105 as of 2:25 p.m. on Jan. 16. This indicates Kabra Jewels share price was trading at a premium of Rs 105 in the grey market, according to IPO tracking site Investorgain.com.
Considering the IPO price band's upper end and the grey market's current premium, the estimated listing price of Kabra Jewels share price is indicated at Rs 233 per share, which is 82.03% higher than the IPO price of Rs 60.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Kabra Jewels IPO Day 1 Subscription Status
The IPO was subscribed 12.52 times on Wednesday
Non-Institutional Buyers: 9.61 times
Retail Investors: 20.92 times
Kabra Jewels IPO Important Dates
The bidding window for Kabra Jewels IPO will be open till Jan. 17. Allotment of Kabra Jewels shares in the offer is scheduled to be done on Jan. 20 followed by credit of shares into the demat account of successful bidders on Jan. 21. Initiation of refunds for non-allottees will also be done on Jan. 21.
Kabra Jewels shares are likely to get listed on the NSE SME on Jan. 22.
Kabra Jewels: Business And Financials
Kabra Jewels Ltd. is a retailer of jewellery offering gold, diamond and silver ornaments. The company designs, manufactures, and sells a wide range of gold, studded, and other jewellery products across various price range.
Use Of Proceeds
Kabra Jewels Ltd. has proposed to use the net proceeds from the IPO to settle its debts, meet working capital requirements and for general corporate purposes.
Financials
Kabra Jewels Ltd. posted a revenue of Rs 125.48 crore in the period ending November 30, 2024, with a net profit of Rs 8.8 crore. In FY24, the jewellery retailer's revenue surged over 34% year-on-year to Rs 164.24 crore from Rs 122.34 crore in the previous fiscal. Net profit jumped more than 111% to Rs 9.3 crore from Rs 4.4 crore.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
RECOMMENDED FOR YOU

Mayasheel Ventures, Safe Enterprises Make Strong Debut; Shares List At Up To 23% Premium


SME IPO Allotment Today: Abram Food, Shree Hare-Krishna Sponge Iron, AJC Jewel; How To Check Status, GMP


AJC Jewel IPO Opens On June 23: Offer Size, Price Band, GMP And Other Key Details


Safe Enterprises Retail Fixtures IPO: GMP, Subscription Status, Price Band And Other Key Details
