Now Reading: M K Sons Fine Jewels IPO set for muted debut with 6% listing gain
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M K Sons Fine Jewels IPO set for muted debut with 6% listing gain
M K Sons Fine Jewels IPO set for muted debut with 6% listing gain
The Story in Brief
Shares of M K Sons Fine Jewels are expected to list on Wednesday, November 4, at a marginal premium of around 5.6 per cent above the issue price of Rs 162, according to the grey market premium of Rs 9 per share on November 3. The grey market is an unofficial indicator, so the actual listing price may differ. The Rs 275.4-crore IPO was open for subscription from October 28 to October 30 and was subscribed 5.09 times.
The issue comprised a fresh issue of 1.36 crore shares worth Rs 220.32 crore and an offer for sale of 34 lakh shares aggregating to Rs 55.08 crore, allowing promoter selling shareholder Ramchand Murlidhar Raimalani to divest part of his stake. The company operates 5 retail showrooms across Maharashtra and Gujarat. Shares will list on the BSE and NSE on November 4.
Indian Opinion Analysis
The 5.56% grey market premium signals muted investor enthusiasm for the IPO, falling well short of bumper listings that have characterised some recent jewellery-sector debuts. Retail subscription at 3.08 times confirms tepid demand relative to the 14 times seen from non-institutional investors. The narrow Rs 9 per share premium offers little buffer for an uncertain listing day. The next indicator to watch is the actual closing price after trading begins on Wednesday, November 4.
Source: business-standard.com
This brief was synthesised by AI from the source linked above. Methodology and corrections.
