The Yaashvi Jewellers initial public offering began on Monday, 25 May, with tepid investor response on its first day. According to reports from Live Mint, the IPO achieved only 2% subscription by 15:19 IST, with the retail portion at 4% and non-institutional investors (NII) at 1%. The company received bids for 1,15,200 shares against 50,19,200 shares on offer, indicating weak initial demand for the jewellery manufacturer's public debut.
The IPO is priced at ₹83 per equity share with a face value of ₹10 per share, running from May 25 to May 27. As reported by Live Mint, investors can bid for a minimum of 1,600 equity shares with the option to acquire additional shares in increments of 1,600. The company aims to raise approximately ₹44 crore through this public offering, which consists solely of new shares with no offer for sale component.
According to Live Mint, Yaashvi Jewellers specialises in the production and sale of gold jewellery, offering products in 9K, 14K, 18K, 20K, and 22K gold varieties. The Jaipur-based company focuses on machine-made gold chains and provides studded gold jewellery, diamond jewellery, fashionable silver jewellery, gold bullion, and customised jewellery options. The company caters to both business-to-business (B2B) and business-to-consumer (B2C) markets and has recently enhanced its market presence by expanding its retail operations.
As reported by Live Mint, the Yaashvi Jewellers IPO grey market premium (GMP) stands at ₹0, indicating shares are trading at the issue price of ₹83 with no premium or discount in the unofficial market. This suggests minimal investor enthusiasm for the issue ahead of its listing.
According to Live Mint, the company plans to utilise the funds raised from the IPO for working capital needs, to repay or prepay certain debts, and for general corporate purposes. Smart Horizon Capital Advisors Pvt. Ltd. acts as the lead manager for the issue, while Bigshare Services Pvt. Ltd. serves as the registrar. The company's Market Maker is Shreni Shares Ltd.
