Deepa Jewellers surges 25% on debut; Rays of Belief lists flat
Deepa Jewellers shares opened at ₹221 against an IPO price of ₹177, while Rays of Belief debuted at ₹239, in line with its issue price.
Deepa Jewellers shares surged 25 per cent on their debut, trading at ₹221 on the NSE and ₹221.05 on the BSE, above their IPO price of ₹177 per share. However, the stock later fell to ₹201.70. In contrast, Rays of Belief's IPO listing was flat at ₹239 on both the NSE and BSE, matching its IPO price. The ₹460-crore Deepa Jewellers IPO saw a near 43-fold subscription, with institutional buyers subscribing 37 times, retail investors 18.55 times, and non-institutional investors 105.96 times.
The ₹50-crore Rays of Belief IPO experienced a 108-fold subscription, with non-institutional investors subscribing 279.11 times and retail investors 195.87 times. Proceeds from both IPOs will be used for corporate purposes, including inventory procurement, scaling up, and expansion.
Written by urgent.news from Hindu BusinessLine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 2 other outlets
- Rays of Belief shares make muted market debut, list at par with issue price thehindubusinessline.com
- Rays of Belief shares make flat market debut, list at IPO price of Rs 239 economictimes.indiatimes.com
