KV Toys India IPO listing: Shares of K.V. Toys India, engaged in the business of contract manufacturing and sale of plastic-moulded and metal-based toys for children, debuted at a solid 34% premium on the BSE SME platform on Monday, December 15, despite a tepid Indian stock market mood.
K.V. Toys India share price got listed at ₹320 apiece, up ₹81 or 33.89% as against its initial public offering (IPO) price of ₹239. Despite a solid premium, the listing missed expectations as signalled by the grey market premium (GMP). K.V. Toys IPO GMP ahead of listing was ₹129, suggesting debut of shares at ₹368 — a premium of 53.97%.
K.V. Toys India IPO details
The K.V. Toys India IPO saw a massive 352.63 times subscription during the three-day bidding process from December 8 to December 10. The offer received bids for 39,18,39,000 shares as against 11,11,200 shares on offer.
The retail category was subscribed 376.41 times, the qualified institutional buyer (QIB) quota 193.25 times and the non-institutional investor (NII) segment 505.19 times.
The ₹40.15 crore IPO was priced in the range of ₹227 to ₹239 per share, with the offer size of 600 shares. Retail investors needed to apply for at least two lots, requiring an investment of 2,86,800 at the upper end of the price band.
The offer was entirely a fresh share sale, meaning the company will receive all proceeds. It plans to use the funds raised for funding working capital needs of the company, repayment of certain borrowings availed and general corporate purposes.
The allotment for K.V. Toys IPO was finalised on Thursday, December 11, while the credit of shares in the allottees' accounts took place on Friday, December 12, along with the initiation of refund to those who could not receive the shares.
GYR Capital Advisors acted as the book-running lead manager, and Purva Sharegistry was the registrar of the issue.
The company's diversified product portfolio includes friction-powered toys, soft bullet guns, ABS (Acrylonitrile Butadiene Styrene) toys, pullback toys, battery-operated and electronic toys, press-and-go toys, die-cast metal vehicles, bubble toys, dolls, and other play-based products.
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