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Business News/ Markets / Ipo/  Varyaa Creations IPO: Issue oversubscribed on day 4 led by retail investors; check GMP, other key details

Varyaa Creations IPO: Issue oversubscribed on day 4 led by retail investors; check GMP, other key details

  • Varyaa Creations IPO opened on April 22 and closes on April 25 with a price band of 150 per share. The company focuses on trading metals and stones while expanding into jewellery production. The IPO subscription status is 1.34 times on day 2.

Varyaa Creations IPO kicked off on Monday, April 22 and will close on Thursday, April 25.

Varyaa Creations IPO kicked off on Monday, April 22 and will close on Thursday, April 25. The price band of the IPO has been fixed at 150 apiece of face value of 10 each. The issues lot size comprises of 1,000 shares.

The firm 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.

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Also Read: Varyaa Creations IPO: Price band, issue size, key dates, other details

The company's product portfolio includes pearls, gemstones, lab-grown diamonds, necklaces, earrings, tops, rings, and bracelets. The firm also creates custom jewellery to satisfy its customers' needs. The company has expanded its offering to include Lab Grown Diamonds in response to the growing demand for ethically sourced diamonds.

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).

Varyaa Creations IPO subscription status

Varyaa Creations IPO subscription status is 2.69 times on day 4, so far.

The retail portion has been subscribed 4.92 times, and NII portion has been booked 46% on day 4.

The company has received bids for 34,21,000 shares against 12,70,000 shares on offer, at 14:03 IST, according to data on chittorgarh.com.

The issue was booked 70% on day 1, and was subscribed 70% on day 1. Varyaa Creations IPO subscription status was 1.96 times on day 3.

Also Read: Emmforce Autotech IPO: Issue oversubscribed on day 1 on strong investor interest; check GMP, subscription status, more

Varyaa Creations IPO 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 proposed new showroom; and general corporate purposes.

On Friday, April 26, the Varyaa Creations IPO's share allocation basis is expected to be finalised. The shares will be credited to the demat accounts of the allottees on the same day that the business starts processing refunds, which is Monday, April 29. It is likely that shares of Varyaa Creations will be listed on BSE SME on Tuesday, April 30.

Bigshare Services Pvt Ltd is the registrar for the Varyaa Creations IPO, while Inventure Merchant Banker Services Pvt Ltd is the book running lead manager. The market maker for Varyaa Creations' IPO is Svcm Securities.

Also Read: Faalcon Concepts IPO: Issue subscribed 54.81 times on day 3 so far, NII, retail portion sees strong demand; check GMP

Varyaa Creations IPO GMP today

Varyaa Creations IPO GMP or grey market premium was 0, which meant shares were trading at their issue price of 150 with no premium or discount in the grey market according to investorgain.com.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.

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