Harikanta Overseas ₹24.3 cr, Yaashvi Jewellers ₹43.88 cr IPOs oversubscribed
Both Harikanta Overseas and Yaashvi Jewellers just wrapped up their IPOs with plenty of interest.
Harikanta Overseas, which makes synthetic textile fabrics in Surat, is looking to raise ₹24.3 crore and saw its IPO subscribed 1.11 times.
Meanwhile, gold jewelry brand Yaashvi Jewellers is fetching ₹43.88 crore with demand outpacing supply by over five times.
Share allotments will be decided by May 29, and both companies are scheduled to be available for trading on the BSE SME platform on June 2, subject to the tentative schedule.
Harikanta Overseas institutions subscribed over 21x
Harikanta's IPO was a hit with institutional investors (their share got subscribed over 21 times) while retail and non-institutional buyers also showed good interest.
The funds are headed toward new factory space, machinery upgrades, working capital, and general needs.
Over at Yaashvi Jewellers, retail bids were solid too (1.75 times), but non-retail investors really went for it (9.6 times).
The strong response suggests investors are feeling optimistic about these sectors right now.