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Kabra Jewels’ Rs.40-Cr SME IPO subscribed 356 times

Economic Times   Money control  

The INR 40 crore initial public offer of Ahmedabad-based Kabra Jewels Ltd received 356 times subscription. The company aimed to raise funds entirely through a fresh issue of 31.25 lakh shares, priced at INR 121-128 per share. The IPO will list on the NSE SME platform.Investors applied for INR 70.73 crore equity shares, against the offer size of 22.76 lakh shares. Non-institutional investors subscribed 558.56 times their allotted quota, followed by retail investors who picked 385.19 times their reserved portion. Qualified institutional investors subscribed 154.111 times.Kabra operates six showrooms in Ahmedabad as well as three offices and one exhibition centre. It plans to use the proceeds to repay debt. The firm’s revenue from operations stood at INR 125.28 crore during the period ended November 2024, in the current financial year.