M. K. Sons Fine Jewels Limited IPO Subscription Update: Issue Subscribed 4.84x on Day 3
The M. K. Sons Fine Jewels Limited IPO saw strong demand on its final day, with investors bidding for 5,78,73,452 shares against 1,19,00,000 shares offered, resulting in an overall subscription of 4.86 times.
The Non-Institutional Investor (NII) category recorded the highest demand at 13.95, with bids for approximately 3,55,69,079 crore shares against 25,50,000 crore shares reserved. The retail portion was subscribed 2.83, receiving bids for approximately 1,68,35,182 crore shares against 59,50,000 crore shares offered.
| Sr. No. | Category | Subscription (Times) |
|---|---|---|
| 1 | Qualified Institutional Buyers (QIBs) | 1.61 |
| 2 | Non-Institutional Investors (NIIs) | 13.95 |
| 3 | Retail Individual Investors (RIIs) | 2.83 |
| - | Total | 4.86 |
M. K. Sons Fine Jewels Limited IPO Overview and Purpose
The M. K. Sons Fine Jewels IPO is offering approximately Rs. 275.40 crore, comprising a fresh issue of Rs. 220.32 crore and an Offer for Sale (OFS) of approximately Rs. 55.08 crore. The issue is priced in the range of Rs. 153 to Rs. 162 per share, with a minimum lot size of 91 shares.
The proceeds from the fresh issue will be used to establish a new showroom in Maharashtra, expand an existing showroom in Gujarat, repay or prepay certain outstanding borrowings and meet general corporate purposes. The OFS proceeds will go to the selling promoter, Ramchand Murlidhar Raimalani. The company will not receive any proceeds from the OFS portion of the issue.
Disclaimer
Investments in the securities market are subject to market risks. Read all related documents carefully before investing. Registration granted by SEBI, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors. Choice Equity Broking Private Limited: SEBI Reg No. Broking - INZ000160131 ( BSE - 3299 ) | ( NSE - 13773 ) | ( MSEI - 73200 ) | ( MCX - 40585 ) | ( NCDEX - 01006 ). Depository Participant SEBI Reg. No. - IN - DP - 84 - 2015, DP ID CDSL - 12066900, NSDL ID - IN301895. Research Analyst - INH000000222 (CIN. NO.: U65999MH2010PTC198714)
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