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Deepa Jewellers IPO seen targeting about ₹205 listing value
The issue priced within ₹168 to ₹177 per share, has a reported GMP of +₹28, and is expected to list on BSE and NSE on September 8.
Deepa Jewellers launched its IPO for subscription on September 1 and will close on September 3, with the offer set at ₹168 to ₹177 per share, according to LiveMint Markets. The lot size is 84 equity shares, and bids can be placed in multiples thereafter.
Grey market indications point to an estimated listing price of about ₹205 per share, based on a current GMP of +₹28. LiveMint Markets also cited that the GMP has moved upward on the day, while varying from ₹0.00 to a peak of ₹55 over the prior nine sessions.
The reservation structure allocates up to 50% of the issue size to qualified institutional buyers, at least 15% to non-institutional investors, and at least 35% to retail investors. LiveMint Markets reported the subscription status at 3.60x on day 2, with retail at 4.69x and non-institutional investors at 5.10x, while QIBs bids were booked at 46%.
Basis of allotment is expected to be finalized on September 4, refunds are likely to be processed starting September 7, and shares are expected to be credited to demat accounts on the same day. LiveMint Markets added that the IPO is expected to list on BSE and NSE on September 8, and said brokerages largely maintained a positive view while flagging risks including customer concentration, regional jewellery preferences, and working capital needs.