Vishal Nirmiti Limited and Nityas Gems & Jewellery debuted on the stock market on Thursday. While Vishal Nirmiti listed at a discount, Nityas Gems & Jewellery listed premium of 9% to its IPO price.
Shares of Vishal Nirmiti made a weak stock market debut, listing at Rs 215 on both the NSE and BSE against an issue price of Rs 220, reflecting a discount of 2.3% on both exchanges.
In contrast, Nityas Gems and Jewellery delivered a positive listing performance. The stock settled at Rs 80 on the NSE and Rs 82 on the BSE, compared with its issue price of Rs 75. This translates into a premium of 6.7% on the BSE and 9.3% on the NSE.
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Vishal Nirmiti Limited
Vishal Nirmiti Ltd had fixed a price band of Rs 208-220 per equity share for its public offer. The IPO comprises a fresh issue of up to 69.71 lakh equity shares, aggregating to Rs 145 crore at the upper end of the price band, and an offer-for-sale (OFS) of 15 lakh shares worth Rs 33 crore. The total issue size stands at Rs 178 crore at the upper limit of the price band.
Proceeds from the IPO are proposed to be utilised for funding working capital requirements, loan repayments and general corporate purposes. Vishal Nirmiti is engaged in manufacturing and dealing in pre-stressed concrete (PSC) sleepers for railway, pre-cast and pre-stressed concrete products, as well as fabrication of mild steel (MS) pipes, MS liner and pre-stressed pipes for pumped storage projects.
The company also provides engineering, procurement, infrastructure and construction services for railway infrastructure and various civil engineering, irrigation and infrastructure projects.
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Nityas Gems & Jewellery
Lab-grown diamond-studded gold jewellery manufacturer Nityas Gems & Jewellery Ltd. launched its initial public offering (IPO) to raise Rs 108.35 crore through a book-built issue comprising a fresh issuance of 1.45 crore equity shares. The IPO was priced in the range of Rs 70-75 per share, with investors required to bid for a minimum lot of 200 shares, translating into a minimum investment of Rs 15,000.
The public issue opened for subscription on Sept. 30 and closed on Oct. 5. The basis of allotment was expected to be finalised on Oct. 6, while the company's shares were scheduled to list on the BSE and NSE on Oct. 8.
Choice Capital Advisors Pvt. Ltd. acted as the book-running lead manager to the issue, while Bigshare Services Pvt. Ltd. served as the registrar.
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