Kabra Jewels IPO: Check GMP, Day 1 Subscription Status, Offer Size And Price Band
According to InvestorGain, if the current GMP trends are sustained, shares of Kabra Jewels Ltd. are likely to list at Rs 213 apiece on the NSE SME platform, Emerge.
Kabra Jewels Ltd., a company engaged in the retail jewellery business, launched its initial public offering to raise Rs 40 crore from the primary market on Jan. 15.
The NSE SME issue is an entirely fresh issuance of 31.25 lakh shares with no offer for sale component. Those looking to invest in the Kabra Jewels IPO must check out these key retails before making a final investment call.
Kabra Jewels IPO Key Details
The bidding window for Kabra Jewels IPO will be open till Jan. 17. Allotment of 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.
The company has reserved up to 50% of the net issue for qualified institutional buyers and 35% of the shares available on offer for retail investors. Non-institutional investors (NIIs) can bid up to 15% of the net offer size.
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.
Ahead of the IPO subscription going live, Kabra Jewels raised Rs 10.87 crore from anchor investors. 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.
Kabra Jewels IPO Day 1 Subscription Status
The IPO has been subscribed 11.19 times as of 4:30 p.m. on Wednesday, as per Chittorgarh
Non-Institutional Buyers: 8.58 times
Retail Investors: 18.69 times
Subscription status will be updated at regular intervals.
Kabra Jewels IPO GMP Today
Kabra Jewels IPO has generated a strong buzz in the unlisted market on the first day of its subscription. The grey market premium on the shares of the company surged to Rs 85 marking a premium of over 66.41% at the upper price band. According to InvestorGain, if the current GMP trends are sustained, shares of Kabra Jewels Ltd. are likely to list at Rs 213 apiece on the NSE SME platform, Emerge.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
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.
It operates 6 showrooms in Ahmedabad along with 3 offices and 1 exhibition centre.
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.
