Business Standard

Friday, January 31, 2025 | 03:39 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

Last day! Kabra Jewels IPO ends today; subscription rises 127x, GMP up 82%

The Kabra Jewels IPO, which opened for public subscription on Wednesday, January 15, 2025, is set to close on Friday, January 17, 2025. Check the key details here

IPO

Kumar Gaurav New Delhi

Listen to This Article

Kabra Jewels IPO: The initial public offering of retail jewelry player, Kabra Jewels, is set to close for public subscription today, Friday, January 17, 2025. The Rs 40 crore SME offering, which opened for subscription on Wednesday, January 15, 2025, has received an overwhelming response from investors, getting oversubscribed by around 127 times till 10:54 AM on Friday, January 17.
 
Kabra Jewels IPO details
The public offering comprises an entirely fresh issue of 31,25,000 equity shares, available at a price band of Rs 121-128 per share, and a lot size of 1,000 shares. Accordingly, the investors can bid for a minimum of 1,000 shares and in multiples thereof. A retail investor would require a minimum of Rs 1,28,000 to bid for one lot of 1,000 shares. 
 
 
Kabra Jewels IPO grey market premium (GMP)
Meanwhile, the company's unlisted shares were commanding a solid premium in the grey markets on Friday. Sources tracking unofficial market activities revealed that Kabra Jewels shares were quoted trading at around Rs 203 apiece, reflecting a premium of Rs 105 or 82.03 per cent over the upper end of the issue price of Rs 128.
 
Kabra Jewels IPO allotment, listing schedule
As the subscription window for the SME offering closes today, the basis of allotment of Kabra Jewels IPO shares is expected to be finalised tentatively on January 20, 2025. Successful allottees will receive Kabra Jewels shares in their demat accounts on January 21, 2025. Kabra Jewels shares are expected to list on the NSE SME platform tentatively on January 22, 2025.
 
Kabra Jewels IPO registrar, BRLM
Cameo Corporate Services is the registrar for the Kabra Jewels IPO, while Marwadi Chandarana Intermediaries Brokers is acting as the sole book-running lead manager.
 
Kabra Jewels IPO objective
Kabra Jewels, in its red herring prospectus (RHP), said that it will utilise the proceeds from the public offering for the repayment of certain borrowings availed by the company, in part or full. The company will also use the proceeds to meet working capital requirements as well as for general corporate purposes.
 
About Kabra Jewels
Kabra Jewels operates in the retail jewellery sector, offering a diverse range of gold, diamond, and silver ornaments. Other offerings include gold and silver coins, utensils, and artifacts. The company's primary expertise is in designing, and it markets its exclusive creations under the brand name ‘KK Jewels.’ As on the date of this RHP, Kabra Jewels has 6 showrooms under the brand names KK Jewels Bridal, KK Jewels Diamond, KK Jewels Silver, KK Jewels Gold, KK Jewels - Atarashi, and KK Jewels - Silver Studio, 3 offices, and 1 exhibition centre located in the city of Ahmedabad.
 

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jan 17 2025 | 11:39 AM IST

Explore News