Kabra Jewels had an excellent debut in the NSE SME segment, listing at a 90% premium at ₹243.20. After the impressive listing, the company’s shares hit a 5% upper circuit, raising the price to ₹255.35.
The price band for the IPO was set between ₹121 and ₹128 per share. Kabra Jewels IPO opened for subscription on January 15 and closed on January 17.
IPO Details and Lot Size
The lot size for Kabra Jewels IPO was set at 1,000 shares, meaning investors needed a minimum investment of ₹1,28,000.
The IPO aimed to raise ₹40 crore, with the company issuing 31.25 lakh new shares. Before the IPO opened to the public, anchor investors subscribed to the IPO on January 14, contributing ₹10.87 crore.
Prior to the public offering, the company raised Rs 10.87 crore from anchor investors on January 14.
Massive Subscription Response
The IPO saw a modest 12% subscription on the first day but gained significant momentum by the third day. The overall subscription exceeded 356 times. Here’s a breakdown of the subscription response:
Retail Investors: 384.90 times
Non-Institutional Investors (NII): 556.90 times
Qualified Institutional Buyers (QIB): 154.53 times
Business Overview
Kabra Jewels is a retail jewelry business specializing in gold, diamond, and silver jewelry. The company operates six showrooms, all located in Ahmedabad.
High Subscription Demand
The IPO saw strong investor interest, with subscriptions soaring more than 350 times. On the first day, the IPO received 12% of its total subscription. By the third day, demand increased significantly, reaching over 356 times.
The retail category saw 384.90 times subscription, while the Non-Institutional Investor (NII) category received 556.90 times and the Qualified Institutional Buyer (QIB) category got 154.53 times.
