Utssav Cz Gold Jewels share price rises 5% after a flat listing at ₹110.05 on the NSE SME. Hits upper circuit limit

Utsav Cz Gold Jewels share price lists at ₹110.05 on the NSE SME , not significantly higher than the issue price of ₹110.

Utsav Cz Gold Jewels share price thereafter gained 5% , hitting the upper end of the price band or the circuit limit at ₹115.55

The market was expecting decent listing gains from the Cz Gold Jewels share price, looking at the subscription status and the Grey Market premiums.

The Utssav Cz Gold Jewels IPO had been subscribed 47.58 times. By August 2, 2024 (Day 3), the public issue had been subscribed 46.71 times in the retail category, 36.43 times in the QIB category, and 64.47 times in the NII category.

The Grey Market premium of GPM stood at +15 as per the investorgain.com data. This meant that the Cz Gold Jewels share price was trading at a premium of ₹15 over the issue price in the grey market. The market thereby was expecting listing of Cz Gold Jewels share price at ₹125 about 13,64% higher than the upper band of the Cz Gold Jewels offer price at ₹110.

The ₹69.50 crore Utsav Cz Gold Jewels IPO is a book-built issue. This IPO comprised of a completely new issue of 63.18 lakh share.

The Utssav Cz Gold Jewel plans to utilise the net proceeds for financing the company's need for working capital and further some amount for the general corporate purpose

Utssav Cz Gold Jewels IPO had opened for subscription on 31 July, 2024, and closed on 02 August, 2024.

The ₹69.50 crore Utsav Cz Gold Jewels IPO is a book-built issue. This IPO comprised of a completely new issue of 63.18 lakh share.

The Utssav Cz Gold Jewel plans to utilise the net proceeds for financing the company's need for working capital and further some amount for the general corporate purpose

Utssav Cz Gold Jewels IPO had opened for subscription on 31 July, 2024, and closed on 02 August, 2024.

The registrant of the Utssav Cz Gold Jewels IPO is Bigshare Services Pvt Ltd, and the book running lead manager is Choice Capital Advisors Pvt Ltd. Choice Equity Broking is the market maker for Utssav Cz Gold Jewels IPO.

Utssav CZ Gold Jewels Limited was established in November 2007 and is a company that manufactures, wholesales, and distributes 18Karat, 20Karat, and 22Karat CZ gold jewelry.

The company produces and markets a broad variety of goods, such as timepieces, brooches, bracelets, necklaces, pendants, earrings, and rings.

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