Shares of RK Fashion Accessories debuted on the NSE Emerge platform at ₹80 per share on Monday, October 12, reflecting a discount of 2.44% from the IPO issue price of ₹82 per share. According to reports from Citygirljewellery.co.in, the imitation jewellery manufacturer's listing marked the completion of its initial public offering journey on the SME platform. The stock's debut price fell short of the grey market premium (GMP) indications that had suggested potential listing gains of nearly 2% on the morning of October 12.
Investors who received the IPO allotment faced losses due to the discounted listing price. As reported by Citygirljewellery.co.in, a lot consisting of 1,600 shares required a minimum investment of ₹2,62,400 for individual investors (two lots). The listing price resulted in investors losing ₹6,400 per lot, bringing the total investment value down to ₹2,56,000 per lot. The company's shares are now trading on the NSE SME platform with a market capitalization of ₹124.13 crore following the debut.
The ₹34.99 crore initial public offering was structured as a fresh issuance of 42.67 lakh shares with no offer for sale (OFS) component. According to data from Chittorgarh website, the IPO was subscribed 2.70 times, receiving bids for 1,09,36,000 shares against 40,52,800 shares on offer. The public issue was priced in the range of ₹77-82 per share and was open for subscription from October 5 to October 7. The issue attracted varying demand across investor categories, with qualified institutional buyers subscribing 14.11 times, individual investors at 3.11 times, and non-institutional investors at 1.77 times.
RK Fashion Accessories, a Kolkata-based company incorporated in March 2010, operates in the manufacturing and wholesale distribution of imitation jewellery through contract manufacturing arrangements. As reported by Citygirljewellery.co.in, the company also trades in branded cosmetics and produces handcrafted jewellery incorporating traditional design elements with contemporary styles. The firm serves both B2B and B2C customers through wholesale, retail and online channels using a multi-platform e-commerce strategy. The company has allocated ₹27.47 crore from IPO proceeds for expansion and working capital requirements, including ₹8.80 crore for a new plating facility in Baruipur, Kolkata, ₹5.37 crore for a B2B showroom, and ₹5.60 crore for inventory requirements.
