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

Varyaa Creations IPO price band has been fixed at ₹150 per equity share of face value of ₹10 each. Varyaa Creations IPO will open for subscription on Monday, April 22, and close on Thursday, April 25. Varyaa Creations IPO lot size consists of 1,000 shares. Minimum application size of 1,000 equity shares and in multiples of 1,000 equity shares thereafter. The fixed price issue at ₹150 per equity share is 15 times of the face value. 

As per the Prospectus, the company trades precious and semi-precious stones, gold, silver, and other metals in bulk. In addition to the aforementioned, the firm plans to concentrate on producing and marketing jewellery starting with this fiscal year. The firm uses Mumbai-based job workers to produce its jewellery.

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 The product line of the firm consists of necklaces, earrings, tops, rings, bracelets, bracelets, gemstones, lab-grown diamonds, and pearls. Custom jewellery is also made by the company to meet the demands of its clients. The business has added Lab Grown Diamonds to its portfolio, acknowledging the increasing demand for diamonds supplied responsibly.

The company's promoters, Sarika and Pooja Naheta, have over twenty years of expertise in the jewellery and stones sector.

Varyaa Creations' listed peers are PNGS Gargi Fashion Jewellery Ltd (with a P/E of 9.44) and Ashapuri Gold Ornament Ltd (with a P/E of 10.14).

Between March 31, 2022, and March 31, 2023, Varyaa Creations Limited's profit after tax (PAT) climbed by 36.13%, while revenue increased by 112.55%.

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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 company intends to use the net proceeds from the offering for the following purposes: to finance the opening of the new showroom; to cover the capital expenditure costs associated with the proposed new showroom; to purchase inventory for the proposed new showroom; and for general corporate purposes.

Tentatively, Varyaa Creations IPO basis of allotment of shares will be finalised on Friday, April 26. On Monday, April 29, the company will begin processing refunds, and the same day, the shares will be credited to the allottees' demat accounts. Varyaa Creations shares are likely to be listed on BSE SME on Tuesday, April 30.

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

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