Kabra Jewels IPO made a stellar debut on the NSE Emerge platform, listing at ₹243.2 per share—a 90% premium over its IPO price band of ₹121-128. The Ahmedabad-based jewellery retailer aimed to raise ₹40 crore through its public issue, which opened on January 15. Prior to the listing, the company secured ₹10.87 crore by allotting 8.49 lakh shares to anchor investors on January 14.
Kabra Jewels IPO Subscription Status
The IPO received an overwhelming response with 4,13,315 applications and a total bid for 70.73 crore shares. Qualified Institutional Buyers (QIBs) accounted for 8.76 crore shares, including 2.85 crore from FIIs. Non-Institutional Investors (NIIs) bid for 23.75 crore shares, with individuals contributing 21.99 crore. Retail Individual Investors (RIIs) were the largest category, bidding for 38.22 crore shares, including 23.66 crore under the cut-off category.
Kabra Jewels IPO GMP
The IPO’s Grey Market Premium (GMP) stood at ₹123, indicating strong investor demand ahead of the listing. The shares debuted at ₹243 on NSE Emerge, significantly outperforming the GMP and reflecting a remarkable 90% premium over the IPO price, highlighting robust market confidence.
Details About Kabra Jewels IPO
The Kabra Jewels IPO opens from 15th to 17th January 2025, with a price band of ₹121-128 per share, aiming to raise ₹40 crore through 31.25 lakh shares. Retail investors can apply for 1,000 shares (₹1,28,000), while HNIs need a minimum investment of ₹2,56,000. Allotment is on 20th January, and listing is expected on 22nd January 2025.
- Retail Investors: Minimum and maximum investment of ₹1,28,000.
- SHNI (S-HNI): Minimum investment of ₹2,56,000.
Funds Deployment of This IPO
- Repayment of certain borrowings availed by the Company, in part or full
- To meet Working Capital requirements
- General Corporate Purpose
Financial Resort of the Kabra Jewels Company
As of 30th November 2024, Kabra Jewels’ assets stood at ₹16,942.59 lakh, with revenue of ₹12,548.47 lakh and a profit after tax of ₹880.89 lakh. Net worth reached ₹3,986.78 lakh, reserves and surplus were ₹3,250.78 lakh, and total borrowing amounted to ₹10,307.08 lakh.
About Kabra Jewels Company
Founded in 2010, Kabra Jewels Limited is a leading jewelry retailer offering a wide range of gold, diamond, and silver ornaments. It operates six showrooms in Ahmedabad and designs both customized and vendor-sourced jewelry. Known for its high-quality products, innovative designs, and strong brand reputation, the company specializes in wedding and daily-wear jewelry. With a history dating back to 1963 as Gujarat Emporium in Mount Abu, Kabra Jewels has evolved into a trendsetter in handcrafted sterling silver jewelry. The company employs 121 staff members as of November 30, 2024.