Kabra Jewels makes stellar debut on the NSE Emerge platform, shares list at a premium of 90% 

The IPO funds will be used to repay certain borrowings, meet working capital requirements, and support general corporate purposes

Ahmedabad: Jewellery retailer Kabra Jewels made a remarkable debut on the National Stock Exchange (NSE) Emerge platform on January 22, listing its shares at Rs 243, a 90% premium over its IPO price of Rs 128. The stock continued its upward momentum, reaching Rs 255.35, nearly doubling investors’ wealth within a single trading day. 

Within minutes after listing, as many as 11.42 lakh shares were traded on the stock exchange, taking the total trading value to Rs 28.5 crore. The company’s market capitalization stood at Rs 265.85 crore. In all, the Ahmedabad-based jeweller raised Rs 40 crore through its initial public offering of 31.25 lakh shares. It proposes to utilize the IPO funds mainly for repayment of its outstanding dues, in part or full, and fund working capital requirements. 

Driven by strong demand from non-institutional and retail investors, the public offer was booked more than 356 times. Applications for more than 70.73 crore shares were received against 19.86 lakh shares on offer. The issue generated demand for Rs 9,050 crore worth shares against the issue size of Rs 40 crore. 

The jewellery retailer owns and operates six outlets under the brand name of ‘KK Jewels’. The outlets are under the names of KK Jewels Diamond, KK Jewels Bridal, KK Jewels Gold, KK Jewels Silver, KK Jewels – Atarashi and KK Jewels – Silver Studio. It has three offices and an exhibition centre in Ahmedabad. The company offers gold and silver coins, jewellery items of gold, diamond, and silver, utensils and other artefacts. 

The jewellery retailer reported revenue from operations of Rs 125.28 crore for the first eight months of 2024-25 (April-November). Its profit after tax was Rs 8.8 crore in the period under review. 

The company reported a net profit of Rs 9.4 crore in the financial year ending March 31, 2024, over a revenue of Rs 164.24 crore. 

Notably, the NSE Emerge exchange offers small and medium enterprises (SMEs) a platform to raise capital in the public market with simplified listing requirements compared to the National Stock Exchange Main Board. This platform supports SMEs by increasing their visibility, providing access to financing and offering investors the opportunity to invest in growing SMEs. 

Retail Jeweller India News