Kabra Jewels IPO which opened on January 15, 2025, will conclude today. The three-day subscription window for the initial public offering (IPO) of Kabra Jewels was very successful. This is against the 31,25,000 equity shares on offer. This translates to an oversubscription of 127 times by the end of January 17, 2025.

Kabra Jewels IPO- Oversubscription

National Stock Exchange (NSE) in its data reveals that Non-Institutional Investors (NIIs) have driven demand. Non-Institutional Investor’s demand for the Kabra Jewels IPO led to oversubscription in their reserved category by 29.03 times. Additionally, Retail Individual Investors (RIIs) oversubscribed their portion by 69.92 times. Additionally, Qualified Institutional Buyers (QIBs) subscribed to 0.78 times shares of their allocation.

Kabra Jewels IPO comprises a fresh issue of 31,25,000 million equity shares and no offer for sale of equity shares. The price band set at Rs 121-128  per share, with a lot size of 1,000 shares. Retail investors can bid for a minimum of Rs 1,28,000 for one lot at the upper price band.

Kabra Jewels IPO – GMP

The strong demand for IPO is seen in the grey market too, where unlisted shares are available at Rs 203 apiece. This indicates a grey market premium (GMP) of Rs 105 or 82.03 per cent over the upper end of the IPO price band, according to sources tracking unofficial markets.

Since the IPO subscription closes today, the basis of allotment for shares will be finalized tentatively by January 20, 2025. Successful allottees of IPO will receive shares in their demat accounts by January 21, 2025. Moreover, Kabra Jewels shares tentatively will be listed on the BSE and NSE by January 22, 2025.

About Company

The company 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, Atarashi, and KK Jewels – Silver Studio, 3 offices, and 1 exhibition centre located in the city of Ahmedabad.

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