Varyaa Creations, a company dealing in precious metals, stones, and jewelry, launched its IPO on April 22nd and is set to close on April 25th. Here’s a breakdown of key details and its current performance:
IPO Details:
- Open Date: April 22nd, 2024 (Monday)
- Close Date: April 25th, 2024 (Thursday)
- Price Band: ₹150 per Share (Face Value: ₹10)
- Minimum Lot Size: 1,000 Shares
- Issue Size: ₹20.10 Crore (Fresh Issue Only)
- Book Running Lead Manager: Inventure Merchant Banker Services Pvt Ltd
- Registrar: Bigshare Services Pvt Ltd
- Market Maker: Svcm Securities
Business Highlights:
- Trades in gold, silver, other metals, precious & semi-precious stones
- Designs and manufactures jewelry using job workers in Mumbai
- Offers a variety of jewelry products including pearls, gemstones, lab-grown diamonds, and custom designs
- Expanding product portfolio to cater to the growing demand for ethically sourced diamonds
IPO Performance (as of April 24th, Day 3):
- Overall Subscription: 1.72 times
- Retail Investor Portion: Subscribed 3.18 times
- NII Portion: Subscribed 25%
IPO Funds Utilization:
- Funding for opening a new showroom
- Capital expenditure for the new showroom
- Inventory purchase for the new showroom
- General corporate purposes
Grey Market Premium (GMP):
- ₹0 (as of April 24th)
Expected Listing Date:
- Tentatively April 30th, 2024 (BSE SME)
Analysis:
Varyaa Creations’ IPO has received moderate investor interest so far, with decent subscription from retail investors. The company’s focus on expanding its jewelry segment and catering to the demand for lab-grown diamonds could be positive factors.
Grey Market Premium (GMP):
The current GMP of ₹0 indicates that the stock is trading at its issue price in the grey market. The grey market is unofficial and shouldn’t be the sole factor for investment decisions.
Additional Information:
- Share allotment is expected to be finalized on April 26th.
- Shares are expected to be credited to demat accounts and refunds to be processed on April 29th.
Varyaa Creations might be an interesting option for investors looking to enter the growing jewelry market, particularly those interested in ethically sourced diamonds. However, a comprehensive analysis of the company’s financials, future prospects, and market conditions is recommended before investing.
