Bumper Listing: Kabra Jewels IPO Lists with 90% Premium on NSE; Shares Open at Rs. 243

Kabra Jewels, a p jewelry retailer based in Ahmedabad, made a remarkable debut on the stock market with its IPO listing on January 20. The shares opened at Rs.243.2 per share, representing a significant 90% premium over its issue price. This impressive listing has captured the attention of investors and highlights the growing demand for SME (Small and Medium Enterprises) IPOs in the Indian market.

Kabra Jewels IPO Details and Performance

Kabra Jewels launched its IPO from January 15 to January 17, with a price band of Rs.121 to Rs.128 per share. Kabra Jewels IPO saw overwhelming demand from investors, with subscription numbers reaching an astonishing 356.02 times overall by the final day of bidding. Retail investors led the charge with a subscription rate of 384.9 times, while the non-institutional investors (NII) category saw a subscription of 556.9 times. Qualified Institutional Buyers (QIBs) also showed strong interest, subscribing 154.53 times as per data from the Chittorgarh website.
The company aimed to raise Rs. 40 crore through the public offering, and ahead of the IPO, it secured Rs. 10.87 crore by allotting 8.49 lakh shares to anchor investors on January 14. The market had already shown significant interest in the IPO, with the shares trading at a strong grey market premium of Rs. 123, indicating an expected listing price of Rs. 251 per share, nearly 96% higher than the upper band of the IPO price.

Kabra Jewels IPO: Grey Market Premium Update

According to data from Investorgain.com, the latest grey market premium (GMP) for the Kabra Jewels IPO was ₹123 as of January 22, 2025, at 06:04 AM. Based on this GMP, the expected listing price for the IPO was ₹251, indicating a potential listing gain of 96.09%. However, since the actual listing price was below the GMP, it resulted in a negative listing relative to the grey market expectations.

About Kabra Jewels

Founded in 2010, Kabra Jewels operates in the retail jewelry sector, offering a wide variety of products, including gold, diamond, and silver ornaments. The company is known for designing and marketing exclusive jewelry creations under the brand name KK Jewels. It has established a retail presence with six showrooms across Ahmedabad, offering a diverse range of products such as bridal jewelry, diamond collections, and silver accessories. The company also deals in gold and silver coins, utensils, and other artifacts, catering to different customer segments.