Varyaa Creations share price makes a bumper debut, stock opens with 90% premium at ₹285 apiece on BSE SME
₹285, which is 90% higher than the issue price of ₹150. However, following a stellar debut, Varyaa Creations share price was locked in 5% lower circuit. Varyaa Creations IPO kicked off on Monday, April 22 and closed on Thursday, April 25.
The price band of the IPO was fixed at ₹150 apiece of face value of ₹10 each. The issues lot size comprised of 1,000 shares. Varyaa Creations IPO subscription status was 3.59 times on day 4.
The retail portion was subscribed 6.09 times, and NII portion has been booked 1.08 on day 4, according to chittorgarh.com. Also Read: Varyaa Creations IPO: Issue oversubscribed on day 4 led by retail investors; check GMP, other key details The company trades gold, silver, and other metals in bulk together with precious and semi-precious stones, according to the prospectus. Apart from the previously mentioned, the company intends to focus on creating and promoting jewellery as of the current fiscal year.
The company produces its jewellery using job workers situated in Mumbai. Sarika and Pooja Naheta, the company's promoters, have more than 20 years of experience in the jewellery and stone industries. The mentioned peers of Varyaa Creations are Ashapuri Gold Ornament Ltd (P/E of 10.14) and PNGS Gargi Fashion Jewellery Ltd (P/E of 9.44).
Also Read: Varyaa Creations IPO: Price band, issue size, key dates, other details Varyaa Creations IPO, which is worth about ₹20.10 crore, consists of a fresh issue of 1,340,000 equity shares with a face value of ₹10. There is no offer-for-sale component. The net proceeds from the offering will be used by the company for the following: financing the new showroom's opening; paying for the proposed new showroom's associated capital expenditures; buying inventory for the
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