Vaibhav Jewellers IPO subscribed 13% so far, retail investors bid highest on first day of issue

livemint.com:

Vaibhav Jewellers IPO Subscription Status: The initial public offering (IPO) of hyperlocal jewellery retail chain received a muted response so far from investors on the first day of its issue. Vaibhav Jewellers IPO has been subscribed 13 per cent so far on Friday, September 22. The public issue will remain open for bidding till Tuesday, September 26, 2023.

Vaibhav Jewellers IPO is a book-built issue. The offer comprises a fresh issuance of shares worth ₹210 crore, and an offer-for-sale of 28 lakh shares worth ₹60.2 crore by promoter Grandhi Bharata Mallika Ratna Kumari (HUF). Investors can bid for a minimum of 69 equity shares and in multiples of 69 shares thereafter.

Vaibhav Jewellers IPO has been subscribed 13 per cent times so far on the first day as the issue received bids for 11,81,073 shares as against 91,20,664 shares on the offer, till 4:39 pm. The issue has been subscribed 24 per cent in the Retail Investors' category and 0.5 per cent in Non-Institutional Investors (NII) category. The portion reserved for Qualified Institutional Buyers’ (QIB) has not been booked so far as the investors have not started bidding in the issue as yet, as per data available on BSE.

Vaibhav Jewellers IPO's retail investors' portion received bids for 11,04,345 shares against 45,82,941 shares on offer for this segment. Vaibhav Jewellers IPO's NIIs' portion received bids for 93,978 shares against 19,64,118 on the offer for this segment. Vaibhav Jewellers IPO's QIBs portion received bids for zero shares against 25,73,605 on offer for this segment.