M.K. Sons Fine Jewels Ltd. made its stock market debut on November 4, with its shares listing at Rs.171 on the BSE and NSE, representing a premium of approximately 6% over the IPO issue price of Rs.162 per share.
The company’s public issue comprised a fresh issue of shares worth approximately Rs.220.32 crore and an offer for sale of around Rs.55.08 crore, taking the total issue size to approximately Rs.275.40 crore. The IPO had received an overall subscription of 5.09 times by the close of bidding on October 30.
The listing provides the jewellery company with access to public capital markets. Investors will now track its trading performance, financial disclosures and utilisation of fresh issue proceeds following its market debut.
