The Varyaa Creations IPO, which commenced its bidding on April 22, 2024, has witnessed moderate subscription, reaching 1.00 times overall as of April 23, 2024, at 12:39:07 PM (Day 2).
Among the investor categories, the retail segment stands out with a subscription rate of 1.96 times, indicating significant interest from individual investors. However, the subscription rate in the NII (Non-Institutional Investors) category remains relatively low at 0.04 times.
Here’s a breakdown of the subscription status:
– **NII Category:** Non-Institutional Investors have bid for 25,000 shares out of the total 6,35,000 shares offered, resulting in a subscription rate of 0.04 times.
– **Retail Category:** Retail investors have shown strong interest, bidding for 12,44,000 shares against the 6,35,000 shares offered, resulting in a subscription rate of 1.96 times.
– **Total:** The total number of shares bid for across all categories amounts to 12,69,000, just shy of the total shares offered, which stands at 12,70,000.
Varyaa Creations Limited, incorporated in July 2005, operates in the wholesale trading sector, specializing in gold, silver, precious stones, semi-precious stones, and custom-made jewelry. With a diverse product portfolio including necklaces, earrings, rings, bracelets, gemstones, diamonds, and pearls, the company caters to customers’ needs for various occasions and price points.
As of March 31, 2024, Varyaa Creations employs 8 individuals across different departments, reflecting its operational scale and scope.
The IPO, amounting to Rs 20.10 crores, comprises entirely fresh issue shares totaling 13.4 lakh. Priced at ₹150 per share, the minimum lot size for application is set at 1000 shares, requiring a minimum investment of ₹150,000 for retail investors and ₹300,000 for HNIs.
Inventure Merchant Banker Services Pvt Ltd serves as the book running lead manager for the IPO, with Bigshare Services Pvt Ltd acting as the registrar. Svcm Securities has been appointed as the market maker for the Varyaa Creations IPO.
The bidding for the Varyaa Creations IPO will close on April 25, 2024, with the allotment expected to be finalized by Friday, April 26, 2024. The IPO is slated to list on the BSE SME platform, with a tentative listing date scheduled for Tuesday, April 30, 2024.
