Pushpa Jewellers IPO commenced on Monday, June 30 and will conclude on Wednesday, July 2. Pushpa Jewellers IPO price band has been set between ₹143 and ₹147 per equity share, each with a face value of ₹10. Investors can place bids for a minimum of 1,000 equity shares and in multiples of 1,000 shares thereafter.
Pushpa Jewellers Limited is a manufacturer of jewellery that focuses on lightweight 22kt designs, fusing traditional Indian artistry with contemporary styles. The business offers a variety of both Traditional and Modern Gold jewellery. Its extensive collection includes high-quality items such as necklaces, rings, earrings, bangles, bracelets, pendants, Mangal sutras, and kadas.
The company serves multiple regions across India and exports its jewellery to international destinations, including Dubai, the United States, and Australia. It operates three locations that function as both offices and showrooms in Hyderabad, Bangalore, and Chennai, India.
As per red herring prospectus (RHP), the company’s listed peers are Sky Gold Ltd (with a P/E of 5.52), and Khazanchi Jewellers Ltd (with a P/E of 30.98).
Pushpa Jewellers IPO Subscription Status
Pushpa Jewellers IPO subscription status is 2.41 times on day 3, so far, as per chittorgarh.com. The retail portion was subscribed 3.60 times, and NII portion was booked 2.50 times. Qualified Institutional Buyers (QIBs) is subscribed 1.18 times.
The company has received bids for 1,30,80,000 shares against 54,19,000 shares on offer, at 16:20 IST, according to data on chittorgarh.com
On the first bidding day, Pushpa Jewellers IPO subscription status was 36%, and the issue was booked 1.24 times on the second bidding day.
Pushpa Jewellers IPO details
Pushpa Jewellers IPO consists of a fresh issue of 50,34,000 equity shares, aggregating to ₹74 crore, and offer-for-sale (OFS) consist of 13,41,000 equity shares.
The funds raised from the IPO will be used to cover the costs associated with setting up the planned new showroom, which includes expenses for capital investment and inventory for the showroom, as well as meeting working capital needs and general corporate purposes.
Affinity Global Capital Market Private Limited serves as the Book Running Lead Manager for this issue, while Cameo Corporate Services Limited is the Registrar for the issue.
Pushpa Jewellers IPO GMP today
Pushpa Jewellers IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹147 with no premium or discount in the grey market according to investorgain.com
According to the grey market activity observed over the last nine sessions, the IPO GMP is trending downward today and is anticipated to decrease further. The minimum GMP recorded is ₹0.00, whereas the maximum GMP stands at ₹31, as per the insights from experts at investorgain.com.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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