Nityas Gems and Jewellery shares list at nearly 7% premium on NSE; here's how much investors made per lot

On the BSE, the stock started trading at ₹82 per share, up 9.33% from the issue price.

Nityas Gems and Jewellery share price: Here's how much investors made per lot

A lot consists of 200 shares and costs ₹15,000. Investors who received the Nityas Gems and Jewellery IPO allotment made ₹1,000 per lot, taking the value of their investment to ₹16,000, as per the listing price on the NSE.

The initial public offering was subscribed 2.25 times, as it got bids for 3,25,84,000 shares versus 1,44,56,000 shares on offer, according to the data available on the BSE website.

The initial share sale was solely a fresh issuance of 1.45 crore shares worth ₹108.35 crore. There was no offer for sale (OFS) component.

Money generated to the tune of ₹70 crore will be used for working capital needs. The rest will be utilised for 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 firm said in its red herring prospectus (RHP).

Nityas Gems & Jewellery, incorporated in 2022, designs, makes and sells lab-grown diamond-studded gold jewellery. It operates via an integrated business model consisting of business-to-business manufacturing and distribution to organised retailers and direct-to-consumer omnichannel retail operations.

It offers lab-grown diamond-studded gold jewellery across categories such as rings, pendants, bracelets, earrings, mangalsutras, nose pins, necklaces, bangles and cufflinks. The company supplies jewellery across India's 18 states and two union territories, as well as to customers in Australia, the UAE, Canada, Kenya and Taiwan.