Nityas Gems & Jewellery Shares List At 9% Premium On BSE, Beat Grey Market Expectations

Shares of Nityas Gems & Jewellery made a strong debut on the stock exchanges on Thursday, October 8, listing at a premium to the IPO issue price and outperforming the muted signal from the grey market.

The stock opened at Rs. 82 on the BSE, marking a 9.33% premium over its IPO issue price of Rs. 75. On the NSE, Nityas Gems shares debuted at Rs. 80, representing a 6.67% premium over the issue price. The BSE debut represented a gain of Rs. 7 per share over the issue price, while the NSE listing gave investors a Rs. 5 per share gain.

The listing came in majorly above the grey market indication ahead of the debut. The last available grey market premium (GMP) was around Rs. 1, implying an estimated listing price of Rs. 76 and a potential gain of only 1.33% over the issue price.

Nityas Gems & Jewellery IPO Details

The Rs. 108.35 crore Nityas Gems & Jewellery IPO was a book-built issue consisting entirely of a fresh issue of around 1.45 crore shares, with no offer-for-sale component. The IPO opened for subscription on September 30 and closed on October 5, while the basis of allotment was finalised on October 6. The shares were listed on both the NSE and BSE on October 8.

The company fixed the IPO price at Rs. 75 per share, at the upper end of its Rs. 70- Rs. 75 price band. The minimum lot size was 200 shares, meaning retail investors had to make a minimum investment of Rs. 15,000 at the upper price band.

The issue also had a reservation of up to 1 lakh shares for eligible employees, who were offered the shares at a discount of Rs. 7 per share to the issue price.

Nityas Gems IPO Subscription

The IPO received moderate overall demand during its subscription period and was subscribed 2.26 times by the close of bidding.
Retail investors showed the strongest participation, with their portion subscribed 4.07 times. The non-institutional investor (NII) category was subscribed 2.05 times, while the qualified institutional buyers (QIB) portion was subscribed 1.06 times. The employee portion was subscribed 2.82 times.

Overall, investors bid for 3.27 crore shares against 1.45 crore shares on offer, according to the final subscription data.

What Does Nityas Gems & Jewellery Do?

Nityas Gems & Jewellery operates in the jewellery business and focuses on the design, manufacturing and sale of lab-grown diamond-studded gold jewellery in India.

The company raised funds through the fresh issue as it prepared to expand its business and strengthen its operations.