R.K. Fashion Accessories debuts on NSE SME after 2.7x subscription
R.K. Fashion Accessories is making its stock market debut on the NSE SME platform this Monday, October 12.
The IPO got a solid response, with shares subscribed 2.7 times and a small premium expected, listing around ₹84, just above its ₹82 issue price.
IPO offered only new shares
The ₹35 crore IPO offered only new shares (no existing ones sold), priced between ₹77 and ₹82 each.
Big investors jumped in most enthusiastically, subscribing 14.11 times their quota, while retail and non-institutional investors followed behind.
The money raised will help fund working capital and expansion plans like a new plating unit and B2B showroom in Kolkata.
R.K. is engaged in manufacturing imitation jewelry through contract manufacturers and its wholesale distribution, along with trading branded cosmetics, with Affinity Global Capital Market managing the IPO process.