Nityas Gems & Jewellery IPO fully subscribed on Day 3: Check allotment date

The initial public offering of Nityas Gems & Jewellery, a Gujarat-based manufacturer of lab-grown diamond-studded gold jewellery, was fully subscribed on Monday, October 5, the final day of bidding.

It secured bids for 1,78,00,400 shares compared to 1,44,56,000 shares on offer, according to the NSE data until 11:46 am.

The qualified institutional buyers (QIBs) portion was subscribed 47%. The non-institutional investors' category was booked 87%, while the retail investors' part was subscribed 2.47 times.

The ₹108.35 crore initial share sale is exclusively a fresh issuance of 1.45 crore shares, with no offer for sale (OFS) component.

The fresh funds will be used for working capital needs and general corporate purposes.

"We believe that listing our equity shares on the Stock Exchanges will significantly enhance our corporate image and increase the visibility of our brand. Additionally, it will provide our company with the benefits associated with being listed, such as improved access to capital markets and increased credibility with stakeholders," the company said in its red herring prospectus.

Nityas Gems & Jewellery designs, makes and sells lab-grown diamond-studded gold jewellery, operating through an integrated business model comprising business-to-business (B2B) manufacturing and distribution and direct-to-consumer omnichannel retail operations through its subsidiary, Ayaani Diamonds and Jewellery Pvt Ltd.

Nityas Gems & Jewellery IPO allotment and listing date

The basis of allotment for Nityas Gems & Jewellery is likely to be finalised on Monday, October 5. The listing on the stock exchanges will occur on Thursday, October 8.

How to check Nityas Gems & Jewellery IPO allotment on NSE

• Open this link: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
• Click on 'Equity & SME IPO bid details'
• From 'Select Symbol' list, choose 'NITYAS'
• Fill in your PAN or application number
• Hit the 'Submit' button

Steps to check Nityas Gems & Jewellery IPO allotment on Bigshare Services

• Go to Bigshare Services' allotment status portal: www.bigshareonline.com/ipo_Allotment.html
• From the three servers shown on screen, click on any one
• Select 'Nityas Gems & Jewellery Limited' from the IPO dropdown list
• Add any one: Application number, beneficiary ID, or PAN
• Click on the ‘Search’ button