Kabra Jewels IPO Closes with Record Demand: 356 Times Subscribed Across All Categories

The Kabra Jewels Initial Public Offering (IPO) has drawn overwhelming investor interest, with the final day of bidding on January 17, 2025, ending in a massive oversubscription. The NSE SME issue saw a staggering 356.17 times subscription, with applications totaling over 70.73 crore shares, far surpassing the 19.86 lakh shares available for sale. This high demand is a clear reflection of investor confidence in Kabra Jewels as it prepares to go public.
Unprecedented Subscription Demand Across All Categories
The non-institutional investors (NIIs) led the charge with 23.75 crore shares applied, despite only 4.26 lakh shares being allocated to them. This resulted in a 557.57 times subscription for the NII category, highlighting the strong interest from high-net-worth individuals.
In the retail portion, which offered 9.93 lakh shares, 38.22 crore shares were bid for, translating into a 385 times oversubscription. Meanwhile, Qualified Institutional Buyers (QIBs) placed bids for over 8.76 crore shares, resulting in a 154.53 times subscription for their designated portion, which only had 5.68 lakh shares available.
Kabra Jewels IPO Structure and Details
Kabra Jewels’ IPO is structured as a 31.25 lakh share offering, with no offer-for-sale (OFS) component. The price band for the shares was set between Rs 121 and Rs 128, with a minimum bid of 1,000 shares for Rs 1,28,000, aimed at retail investors.
The IPO opened on January 15, 2025, and closed on January 17, 2025, garnering tremendous interest across all investor categories. The allocation for the IPO is set to be finalized by January 20, 2025, and the listing is scheduled for January 22, 2025, on the NSE SME platform.
Purpose of IPO Proceeds
Kabra Jewels intends to utilize the funds raised through this IPO for various purposes. A significant portion of the proceeds will be allocated to reduce the company’s debt. Additionally, the company plans to use the funds to finance capital expenditures and operational needs, with the remaining portion supporting its general business operations.
With such an overwhelming response, Kabra Jewels is set to make its debut on the NSE SME, marking a significant milestone for the company and its investors.