M K Sons Fine Jewels set to list at ₹172
Business
M K Sons Fine Jewels is all set to hit the stock market this Wednesday, with shares expected to list at ₹172, about 6% higher than the top IPO price of ₹162.
The IPO got a lot of attention, especially from non-institutional investors who subscribed 14.12 times. Retail and qualified institutional buyers (QIBs) were interested too, with subscriptions at 3.08 and 1.84 times.
M K Sons IPO funds showrooms
The company's IPO raised money mainly to set up a new showroom in Maharashtra and expand an existing showroom in Gujarat, pay off some debt, and handle general expenses.
The offer included both fresh shares (₹220.32 crore) and an offer for sale (₹55.08 crore).
You will find M K Sons Fine Jewels listed on both BSE and NSE soon.