Considering the upper price band of Rs 128, the stock is expected to see a maximum listing gain of 90% over the issue price.
However, it is important to note that grey market premiums are just an indicator as to how the company’s shares are stacked up in the unlisted market and are subject to change rapidly.
The IPO, which was completely a fresh equity sale of 31.25 lakh shares, received strong response from investors with an overall subscription of 350 times at close.
The net proceeds from the public offer will be used for repayment of debt, working capital requirements and general corporate purposes.
Kabra Jewels operates in the retail jewellery sector, offering a diverse range of gold, diamond, and silver ornaments and our other offerings include gold and silver coins, utensils and other artifacts. Its primary expertise is in designing and marketing its exclusive creations under the brand name KK Jewels.The company has a diverse product portfolio including rings, earrings, pendants, bracelets, chains, necklaces, bangles and other wedding jewellery through which we cater a large number of customers.As on the date of this RHP, the company has 6 showrooms under the brand KK Jewels Bridal, KK Jewels Diamond, KK Jewels Silver, KK Jewels Gold, KK Jewels – Atarashi and KK Jewels – Silver Studio, 3 offices and 1 exhibition centre located in the city of Ahmedabad.
All of these showrooms are operated and managed by the company, and have been taken on a rental basis.
The gems and jewellery industry is one of the most important sectors of the Indian economy, contributing about 7% to the GDP and employing over 5 million people. The industry is also a major source of foreign exchange earnings, accounting for about 15% of the total exports.
For the period ended November 2024, the company clocked total revenues of Rs 125 crore and net profit of Rs 8.8 crore.