Deepa Jewellers to debut Tuesday with expected ₹200.5 per share
Deepa Jewellers is making its stock market debut on Tuesday, 8 September, and excitement is already building.
The IPO's gray market premium sits at ₹23.5, hinting at a likely listing price of ₹200.5 per share, 13.28% higher than the top-end offer price of ₹177.
Allotments wrapped up on Friday, 4 September, so shares should land in demat accounts today, with refunds also being processed.
Noninstitutional investors oversubscribed 105.96 times
The IPO was open from September 1 to 3 and saw massive demand: noninstitutional investors oversubscribed by 105.96 times! Retail and institutional investors weren't far behind either.
The company raised funds to boost working capital and grow its inventory.
After this issue, Deepa Jewellers is valued at around ₹1,700 crore and continues as an organized B2B designer, processor and supplier of hallmarked gold jewelry in South India.