The subscription period for the Utssav CZ Gold Jewels IPO opened on Wednesday, July 31, and will run through Friday, August 2. With a face value of ₹10 per share, the offer has a price range of ₹104 to ₹110. Bids for a minimum of 1,200 shares are being taken, and multiples of those shares are available.
The ownership of the company’s equity is distributed as follows: market makers have the option to purchase up to 3,18,000 equity shares; qualified institutional buyers (QIB) may purchase up to 12,00,000 equity shares; non-institutional investors (NII) may buy up to 9,00,000 equity shares; retail individual investors (RII) may purchase up to 21,00,000 equity shares; and market makers may buy up to 12,00,000 equity shares.
Utssav CZ Gold Jewels Ltd., a well-known company in designing, manufacturing, selling, and importing CZ gold jewellery, was established in 2007. The company offers a broad range of goods, with a concentration on thin CZ gold and rose gold jewellery. A variety of goods are available, including watches, necklaces, earrings, rings, bracelets, pendants, and brooches. These pieces of jewellery, which are made to appeal to today’s youth for both special occasions and daily use, combine the beauty of cubic zirconia, also dubbed “American Diamonds,” with the elegance of gold. operating out of a state-of-the-art 8,275 square-foot facility in Mumbai with a capacity of 1,500 kg.
The company’s listed peers are Ashapuri Gold Ornaments Ltd (P/E of 10.70), Sky Gold Ltd (P/E of 115.11), Swarnsarita Jewels India Ltd (P/E of 9.29), and Uday Jewellery Industries Ltd (P/E of 32.42), according to the red herring prospectus (RHP).
The company earned ₹27,595.41 Lakhs in sales, ₹1,907.69 Lakhs in EBITDA, and ₹1,073.76 Lakhs in PAT for the ten months that ended in January of this year.
Utssav CZ Gold Jewels IPO subscription status
As of day three, the Utssav CZ Gold Jewels IPO subscription status is 46.18 times.
The NII portion was booked 64.32 times, while the retail portion was subscribed 43.98 times. The portion for qualified institutional buyers has 36.43 subscriptions.
According to information on chittorgarh.com, the company got bids for 19,39,74,000 shares against the 42,00,000 shares that were on offer at 15:55 IST.
On the first day of the IPO, Utssav CZ Gold Jewel’s subscription status was 1.83 times, and the issue was booked 8.43 times.
Utssav CZ Gold Jewels IPO details
A new issue of 6,318,000 equity shares with a face value of ₹10 is part of the ₹69.50 crore Utsav CZ Gold Jewels IPO. The phrase “offer for sale” is not present.
The net proceeds will be utilized to pay the company’s working capital needs as well as general business objectives.
Choice Capital Advisors Pvt Ltd is the book-running lead manager for the Utssav Cz Gold Jewels IPO, while Bigshare Services Pvt Ltd is the issue registrar. The market maker for Utssav Cz Gold Jewels’ initial public offering is Option Equity Broking.
Utssav CZ Gold Jewels IPO GMP today
The IPO GMP for Utssav CZ Gold Jewels is +25. According to investorgain.com, this suggests that the share price of Utssav CZ Gold Jewels was selling at a premium of ₹25 in the grey market.
Utssav CZ Gold Jewels’ expected listing price was ₹135 per share, which is 22.73% more than the IPO price of ₹110, taking into account the upper end of the IPO pricing band and the existing premium in the grey market.
A “grey market premium” denotes the willingness of investors to part with more money than the issue price.