The initial public offering of Kabra Jewels Ltd. opened for subscription on Wednesday and was booked over 12 times led by demand from retail investors.

The company engaged in the retail jewellery business is offering to raise Rs 40 crore from the primary market. It is an entirely fresh issuance of 31.25 lakh shares with no offer for sale component.

Here’s all you need to know about the Kabra Jewels SME IPO as bidding on Day 2 resumes.

Kabra Jewels IPO Key Details

Kabra Jewels’ IPO price band has been set in the range of Rs 121 to Rs 128 with a face value of Rs 10 per share. Retail investors may submit their bid with a minimum lot size of 1,000 shares resulting in an investment of Rs 1,28,000 for a single application.

As per the company’s RHP document, of the 31,25,000 shares offered:

  • 5,67,000 (18.14%) is reserved for Qualified Institutions

  • 4,26,000 (13.63%) is reserved for Non-Institutional Buyers

  • 9,93,000 (31.78%) is reserved for Retail Investors

  • 8,49,000 (27.17%) is reserved for Anchor investors.

Kabra Jewels had raised Rs 10.87 crore from anchor investors ahead of the IPO opening for bidding on Wedneday. The company has appointed Marwadi Chandarana Intermediaries Brokers Pvt. as the sole book-running lead manager for the issue whereas Cameo Corporate Services Ltd. is its registrar. Giriraj Stock Broking Pvt. is the market maker for Kabra Jewels IPO.

Kailash Kabra and Jyothi Kailash Kabra are the promoters of the company.

Kabra Jewels IPO Day 2 Subscription Status

The IPO has been subscribed 14.93 times as of 10:09 a.m. on Thursday, as per Chittorgarh

  • Non-Institutional Buyers: 10.32 times

  • Retail Investors: 25.43 times

Subscription status will be updated at regular intervals.

Kabra Jewels IPO GMP Today

Kabra Jewels IPO generated a strong buzz in the unlisted market on the first day of its subscription. The grey market premium on the shares of the company surged to Rs 90 marking a premium of over 70.3% at the upper price band. According to InvestorGain, if the current GMP trends are sustained, shares of Kabra Jewels Ltd. are likely to list at Rs 218 apiece on the NSE SME platform, Emerge.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

Kabra Jewels IPO Day 1 Subscription Status

The IPO was subscribed 12.52 times on Wednesday

  • Non-Institutional Buyers: 9.61 times

  • Retail Investors: 20.92 times

Kabra Jewels IPO Important Dates

The bidding window for Kabra Jewels IPO will be open till Jan. 17. Allotment of Kabra Jewels shares in the offer is scheduled to be done on Jan. 20 followed by credit of shares into the demat account of successful bidders on Jan. 21. Initiation of refunds for non-allottees will also be done on Jan. 21.

Kabra Jewels shares are likely to get listed on the NSE SME on Jan. 22.

Kabra Jewels: Business And Financials

Kabra Jewels Ltd. is a retailer of jewellery offering gold, diamond and silver ornaments. The company designs, manufactures, and sells a wide range of gold, studded, and other jewellery products across various price range. 

Use Of Proceeds

Kabra Jewels Ltd. has proposed to use the net proceeds from the IPO to settle its debts, meet working capital requirements and for general corporate purposes.

Financials

Kabra Jewels Ltd. posted a revenue of Rs 125.48 crore in the period ending November 30, 2024, with a net profit of Rs 8.8 crore. In FY24, the jewellery retailer’s revenue surged over 34% year-on-year to Rs 164.24 crore from Rs 122.34 crore in the previous fiscal. Net profit jumped more than 111% to Rs 9.3 crore from Rs 4.4 crore.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.

. Read more on IPOs by NDTV Profit.Kabra Jewels IPO GMP today is Rs 90 as of 5:04 a.m. on Jan. 16. The estimated listing price of Kabra Jewels is indicated at Rs 218 per share.  Read MoreIPOs 

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