Nityas Gems and Jewellery shares open, market cap ₹472.26 cr
Business
Nityas Gems and Jewellery kicked off its stock market journey with a bang: shares opened at ₹82 on the BSE, up 9.33% from its IPO price of ₹75.
On the NSE, shares started at ₹80, giving early investors a nice bump.
The company's market cap hit about ₹472.26 crore right out of the gate.
Nityas Gems and Jewellery IPO oversubscribed
The IPO was open from September 30 to October 5 and got snapped up fast: demand was more than double the supply, with retail investors especially eager (subscribing 4.04 times over).
Nityas plans to use most of the funds for working capital, supporting its business making lab-grown diamond jewelry for retailers and wholesalers.