Varyaa Creations IPO subscribed more than 3 times on day 3: Check subscription status, allotment and other details
Upstox
2 min read • Updated: April 25, 2024, 7:46 PM
Summary
Varyaa Creations IPO subscription successfully closed on Thursday, April 25, as the public issue was booked more than three times on the third and final day, primarily due to strong buying by retail investors.
The initial public offer was booked 3.64 times with biddings for 46.24 lakh shares against 12.70 lakh shares on offer, as per the BSE data.
The retail portion of the BSE SME IPO was subscribed 6.9 times as retail investors placed bids for 38.64 lakh shares against 6.35 lakh shares on offer for the segment.
On the other hand, the portion reserved for non-institutional investors (NIIs) was subscribed 1.2 times as the investors applied for 7.58 lakh shares against 6.35 lakh shares on offer.
The public issue comprised fresh issue of 13.4 lakh shares, which included a market maker portion of 70,000 shares.
Varyaa Creations IPO allotment and listing
Varyaa Creations IPO opened for subscription on Monday, April 22 and concluded on Thursday, April 25. The IPO price band was fixed at ₹150 per share of face value of ₹10 each.
The lot size for retail investors was of 1,000 shares, amounting to a minimum investment of ₹1,50,000. The minimum lot size for HNI investors was 2 lots, aggregating to an investment of ₹3,00,000.
Inventure Merchant Banker Services Pvt Ltd is the book-running lead manager of the Varyaa Creations IPO, while Svcm Securities is the market maker.
Varyaa Creations IPO's registrar is Bigshare Services Pvt Ltd.
Varyaa Creations IPO share allotment status is expected to be finalised on Friday, April 26. Investors who are allotted the shares can expect transfers to their Demat accounts on Monday, April 29.
Varyaa Creations IPO shares are likely to be listed on the BSE SME platform on Tuesday, April 30.
About Varyaa Creations
Varyaa Creations Limited is primarily engaged in the trading of gold, silver, precious stones and semi-precious stones. The company’s product portfolio includes necklaces, earrings, tops, rings, bracelets, bangles, gemstones, diamonds, lab-grown diamonds and pearls. It also offers custom-made jewellery based on customers' requirements.
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