On Thursday, October 8, two companies, Nitya Gems & Jewellery and Vishal Nirmiti, made their highly anticipated stock market debuts. The initial public offerings (IPOs), which were open for subscription between September 30 and October 5, collectively raised Rs 286 crore from investors.
Nitya Gems & Jewellery Sees Positive Listing
Nitya Gems & Jewellery began its trading journey on a positive note. The jewellery company listed at a premium of 9.33% on the BSE, opening at Rs 82 against its issue price of Rs 75. On the NSE, the stock settled with a premium of 6.67% over its issue price of Rs 80 in its maiden trading session.
The IPO for Nitya Gems & Jewellery was offered in a price band of Rs 70-75 per share, with a lot size of 200 equity shares. The offering successfully raised Rs 108 crore and was subscribed 2.26 times, attracting over 87,000 applications. Choice Capital Advisors served as the sole book-running lead manager, while Bigshare Services was the registrar for the issue.
Vishal Nirmiti Shares Disappoint on Listing Day
Conversely, Vishal Nirmiti, a construction and infrastructure solutions provider, experienced a muted stock market debut. Its shares listed at a discount of 2.27% on both the NSE and BSE, opening at Rs 215 against an issue price of Rs 220. This performance resulted in a loss of Rs 340 for investors on each lot allotted to them.
The IPO for Vishal Nirmiti was priced between Rs 208-220 per share, with a lot size of 68 equity shares. The company raised Rs 178 crore through its IPO, which saw an overall subscription of 1.8 times, with 1.25 lakh applications. Saffron Capital Advisors acted as the sole book-running lead manager, and MUFG Intime India was the registrar for the offering.