Kabra Jewels made a remarkable entry into the NSE SME segment, listing at ₹243.20, which is a 90% premium over its IPO price.
Following the listing, the stock hit a 5% upper circuit, increasing its price to ₹255.35.
The IPO price band was set between ₹121 and ₹128 per share. It opened for subscription on January 15 and closed on January 17, attracting significant investor attention.
IPO Details and Investment Requirements
The IPO aimed to raise ₹40 crore, with Kabra Jewels issuing 31.25 lakh fresh shares.
Before the IPO opened to the public, anchor investors subscribed to the offer on January 14, contributing ₹10.87 crore.
The lot size for the IPO was 1,000 shares, requiring a minimum investment of ₹1,28,000. This made it accessible mainly to serious investors.
Unprecedented Subscription Demand
The IPO received a modest start, with only 12% subscription on its first day.
However, interest soared by the third day, with the overall subscription reaching 356 times. Here is a category-wise breakdown of the subscription:
Retail Investors: 384.90 times
Non-Institutional Investors (NII): 556.90 times
Qualified Institutional Buyers (QIB): 154.53 times
Business Overview of Kabra Jewels
Kabra Jewels is a retail jewelry company specializing in gold, diamond, and silver jewelry. It currently operates six showrooms, all located in Ahmedabad.
The strong subscription demand and premium listing highlight the company’s robust market presence and investor confidence.
