Varyaa Creations IPO opens April 22: Check price band, lot size, listing date and other key details

Varyaa Creations IPO, a fixed-price issue of ₹20.1 crore, is open for subscription from April 22 to April 25, 2024. The initial public offer got a lukewarm response from the investors after the IPO subscription opened on Monday.

The public issue was booked only 26% within two hours of the opening of subscription, as per the BSE data. The BSE SME IPO received bids for 3.36 lakh shares against 12.7 lakh shares on offer, until 12 pm on the first day of bidding.

The Mumbai-based wholesale jewellery firm's public offer is entirely a fresh issue of 13.4 lakh shares of a face value of ₹10 each.

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The BSE SME IPO has a market maker portion of 70,000 shares and there is no anchor allocation. Varyaa Creations has reserved 50% of the offer size, or 6,70,000 shares, for retail investors and the same quantity for buyers in other categories.

SVCM Securities is the market maker for Varyaa Creations IPO. Inventure Merchant Banker Services Pvt Ltd has been appointed as the book-running lead manager of the issue, while Bigshare Services Pvt Ltd is serving as the registrar for the IPO.

Varyaa Creations' promoters are Pooja Vineet Naheta and Sarika Amit Naheta, who currently hold a 100% stake in the firm. Post-IPO, their shareholding will come down to 72.02%.

Key things to know about the Varyaa Creations IPO

Varyaa Creations IPO price band and lot size

Varyaa Creations has fixed the IPO share price at ₹150 per piece. The minimum lot size for an application for retail investors is 1,000 shares, aggregating to an investment of ₹1,50,000. High net worth individual investors can bid for a minimum of 2 lots or 2,000 shares, requiring at least ₹3,00,000 investment.

Varyaa Creations IPO Allotment and Refunds

Varyaa Creations IPO share allotment status is expected to be finalised on April 26. The company will initiate refunds for non-allottees on April 29. Successful applicants will also receive shares in their Demat accounts on the same day.

Varyaa Creations IPO listing date

The jewellery firm will list its shares on the BSE SME platform, with a tentative listing date fixed at April 30, 2024.

Varyaa Creations IPO Objective

The company will utilise funds for the establishment of a new showroom. It will use part of IPO proceeds on capital expenditure. The remaining amount will be used for day-to-day business operations inventory.

About Varyaa Creations Ltd

Set up in 2005, Varyaa Creations is into wholesale trading of gold and silver jewellery. The company also deals in precious and semi-precious stones.

Its product portfolio includes bangles, necklaces, tops, bracelets and earrings. In the precious stones category, its products include gemstones, diamonds, lab-grown diamonds and pearls. Varyaa Creations also designs and manufactures custom-made jewellery based on customers' requirements.

Varyaa Creations' portfolio comprises various jewellery designs for customers at various price points and for all occasions.

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