Varyaa Creations share price made a bumper debut on BSE SME today.
Varyaa Creations share price opened at ₹285, which is 90% higher than the issue price of ₹150.
However, following a stellar debut, Varyaa Creations share price was locked in 5% lower circuit.
Varyaa Creations IPO kicked off on Monday, April 22 and closed on Thursday, April 25.
Also Read: Varyaa Creations IPO opens next week.
Varyaa Creations share price made a bumper debut on BSE SME today. Varyaa Creations share price opened at ₹285, which is 90% higher than the issue price of ₹150. However, following a stellar debut, Varyaa Creations share price was locked in 5% lower circuit.
Varyaa Creations IPO kicked off on Monday, April 22 and closed on Thursday, April 25. The price band of the IPO was fixed at ₹150 apiece of face value of ₹10 each. The issues lot size comprised of 1,000 shares.
Varyaa Creations IPO subscription status was 3.59 times on day 4. The retail portion was subscribed 6.09 times, and NII portion has been booked 1.08 on day 4, according to chittorgarh.com.
Also Read: Varyaa Creations IPO: Issue oversubscribed on day 4 led by retail investors; check GMP, other key details
The company trades gold, silver, and other metals in bulk together with precious and semi-precious stones, according to the prospectus. Apart from the previously mentioned, the company intends to focus on creating and promoting jewellery as of the current fiscal year. The company produces its jewellery using job workers situated in Mumbai.
Sarika and Pooja Naheta, the company's promoters, have more than 20 years of experience in the jewellery and stone industries.
The mentioned peers of Varyaa Creations are Ashapuri Gold Ornament Ltd (P/E of 10.14) and PNGS Gargi Fashion Jewellery Ltd (P/E of 9.44).
Also Read: Varyaa Creations IPO: Price band, issue size, key dates, other details
Varyaa Creations IPO details
Varyaa Creations IPO, which is worth about ₹20.10 crore, consists of a fresh issue of 1,340,000 equity shares with a face value of ₹10. There is no offer-for-sale component.
The net proceeds from the offering will be used by the company for the following: financing the new showroom's opening; paying for the proposed new showroom's associated capital expenditures; buying inventory for the proposed new showroom; and general corporate purposes.
Bigshare Services Pvt Ltd is the registrar for the Varyaa Creations IPO, while Inventure Merchant Banker Services Pvt Ltd is the book running lead manager. The market maker for Varyaa Creations' IPO is Svcm Securities.
Also Read: Varyaa Creations IPO allotment to be finalised today: Here's how to check allotment status as focus shifts to listing
Varyaa Creations IPO GMP today
Varyaa Creations IPO GMP or grey market premium was ₹0, which meant shares were trading at their issue price of ₹150 with no premium or discount in the grey market according to investorgain.com.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
Also Read: Varyaa Creations IPO opens next week. GMP, price, other details of upcoming SME IPO
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.
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