Kabra Jewels IPO fully booked within hours on opening day; check subscription status, price band and other key details

The initial public offering (IPO) of Kabra Jewels Ltd saw a strong demand across investor categories on the first day of bidding on Wednesday, January 15. The NSE SME issue was fully subscribed within hours of launch, driven by high retail demand.

The ₹40-crore IPO of the jewellery seller is open for subscription till Friday, January 17.

The retail portion was subscribed 10.77 times, while the non-institutional investors (NIIs) category was booked 4.23 times. The Qualified Institutional Buyers (QIBs) did not apply for any shares yet.

Here’s a look at all the key details about the issue for the investors interested in applying for the shares of Kabra Jewels Ltd.

Kabra Jewels raises ₹10.87 crore from anchor investors

Ahead of the launch of its IPO, Kabra Jewels raised a ₹10.87 crore from anchor investors. The anchor bidding round was held on January 14.

According to the circular on the NSE website, the company allotted 8.49 lakh shares to four anchor investors at an offer price of ₹128 per equity share.

Kabra Jewels IPO price band and other details

Kabra Jewels IPO comprises a fresh issue of 31.25 lakh shares worth ₹40 crore, and no offer-for-sale (OFS) component.

The company has fixed the price band at ₹121 to ₹128 per share for the IPO. The minimum lot size is 1,000 shares for the retail investors. The minimum application amount for the retail investors is ₹1,28,000 for at least a single lot size.

Marwadi Chandarana Intermediaries Brokers Private Ltd is the book-running lead manager of the Kabra Jewels IPO, while Cameo Corporate Services Ltd is the registrar for the issue. The market maker for the IPO is Giriraj Stock Broking Private Ltd.

Kabra Jewels IPO key dates

Following the end of subscription, Kabra Jewels IPO share allotment status is expected to be finalised on Monday, January 20. Refunds will be issued on Tuesday, January 21, and the allottees will also receive shares in the Demat accounts the same day.

The company has proposed to list its shares on NSE SME platform, Emerge, on Wednesday, January 22.

About Kabra Jewels and use of IPO proceeds

Kabra Jewels Limited is engaged in the retail jewellery business, and offers a diverse collection of gold, diamond and silver ornaments. It was incorporated in 2010.

The company designs, produces and distributes a wide array of jewellery, including gold, studded, and other types of ornaments, across different price ranges.

The company intends to utilise the net proceeds from the IPO for repaying specific borrowings. A portion of the IPO funds will be used for capital expenditure and operational needs. The remaining amount will be used for general corporate purposes.

Kabra Jewels Ltd key financials