Kabra Jewels IPO Day 3: NSE SME issue booked 356 times, check key details

The initial public offering or IPO of Kabra Jewels Ltd closed with a huge demand on the last day of bidding on Friday, January 17. The NSE SME issue was booked more than 356 times, led by Non-Institutional Investors (NIIs).

The ₹40-crore public offer of the gold jewellery retailer opened for subscription on January 15.

The IPO was overall subscribed 356.17 times at the end of three-day bidding on Friday, with applications for over 70.73 crore shares against 19.86 lakh shares on offer.

The NIIs applied for more than 23.75 crore shares compared to 4.26 lakh shares set aside for the category. The NIIs quota was booked 557.57 times. The retail portion of the IPO was booked nearly 385 times with bids for more than 38.22 crore shares against 9.93 lakh shares on offer. The Qualified Institutional Buyers (QIBs) booked their category 154.53 times with bids for more than 8.76 crore shares compared to the allocation of 5.68 lakh shares.

Kabra Jewels IPO details

Kabra Jewels IPO was an entirely fresh issue of 31.25 lakh shares. The public offer did not have any offer-for-sale (OFS) component.

The IPO price band was fixed at ₹121 to ₹128 per share, with a face value of ₹10 each. The minimum lot size for the retail investors was 1,000 shares, amounting to an investment of at least ₹1,28,000 for a single lot.

Following the subscription, the company is expected to finalise the IPO share allotment status on Monday, January 20. The investors can check the share allotment status on the NSE and the website of the issue registrar, Cameo Corporate Services Limited.

Kabra Jewels is scheduled to initiate refunds to unsuccessful bidders on January 21. The shares will be credited to the Demat accounts of successful bidders on the same day as well.

Shares of the company are likely to be listed on the NSE SME platform Emerge on Wednesday, January 22.

Kabra Jewels IPO: Use of proceeds

Kabra Jewels Ltd is a jewellery retailer offering a diverse range of gold, diamond and silver ornaments. The company designs, manufactures and sells various jewellery products, including gold and studded items across different price ranges.

It operates six showrooms in Ahmedabad, Gujarat, as well as three offices and one exhibition centre.

The company intends to utilise the proceeds from its IPO to repay certain debts, either in part or full. A portion of the IPO proceeds will also be used to fund capital expenditure and operational requirements. The company will use the remaining amount for general corporate purposes.

Kabra Jewels' revenue from operations stood at ₹125.28 crore during the period ended November 2024, in the current financial year. Its profit after tax (PAT) stood at ₹8.8 crore during the period under review.

The company’s revenue increased to ₹164.24 crore in FY24 against ₹122.34 crore in FY23. Its net profit stood at ₹9.4 crore in FY24 as compared to ₹4.4 crore in the preceding financial year.