Khazanchi Jewellers IPO opened for subscription on Monday, 24 July, and will close on Friday, 28 July. The company has set the IPO’s price band at ₹140 per equity share and the share will be listed on the BSE SME exchange Monday, August 7.
Khazanchi Jewellers IPO, which is worth ₹96.74 crore, is completely a fresh issue; there is no offer for sale (OFS) component. The company plans to use the net proceeds from the offering to fund the following goals, including (a) capital expenditures for the new showroom, (b) inventory costs for the new showroom, to meet the increased working capital needs of the current operations, and (c) general corporate purposes. The new showroom will be located in Chennai, Tamil Nadu.
The Khazanchi Jewellers SME IPO share allotment will take place on Monday, 31 July. Those allotted shares will get them in their Demat accounts on Friday, 4 August. The refund process for those who did not get shares will begin on Thursday, 3 August.
Khazanchi Jewellers IPO: GMP, subscription status, other details in 10 points
Khazanchi Jewellers IPO was subscribed 1.26 times on day 5. The issue received decent response from retail investors who’s portion set was subscribed 78%, while non-institutional buyers who’s portion set was subscribed 1.74 times, at 16:20 IST, according to data on chittorgarh.com.
The company has received bids for 82,97,000 shares against 6,910,000 shares on offer, according to data on chittorgarh.com.
Khazanchi Jewellers IPO subscription status on day 1 saw 19% subscription, on day 2 the issue was subscribed 56%, on day 3 Khazanchi Jewellers IPO was subcribed 78%, and on day 4 the issue was subscribed 97%.
Khazanchi Jewellers IPO GMP today:
Khazanchi Jewellers IPO GMP or grey market premium is +2. This indicates that the shares of Khazanchi Jewellers IPO share price were trading at a premium of ₹2 in the grey market on Friday, according to topsharebrokers.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Khazanchi Jewellers IPO share price is ₹142 apiece, which is 1.43% higher than the IPO price.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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Updated: 28 Jul 2023, 04:28 PM IST