Varyaa Creations IPO: A Comprehensive Overview
Varyaa Creations’ IPO commenced on Monday, April 22, and will conclude on Thursday, April 25. The price band for the IPO is established at 150 per share, with a face value of 10. The minimum lot size for the issue is 1,000 shares.
The company primarily engages in the trading of gold, silver, and various other metals, along with precious and semi-precious stones. Additionally, Varyaa Creations manufactures and distributes jewelry, with a recent focus on designing and promoting unique jewelry. The company’s production process involves collaboration with skilled job workers based in Mumbai. Their diverse product portfolio encompasses pearls, gemstones, lab-grown diamonds, necklaces, earrings, tops, rings, and bracelets.
Recognizing the growing demand for ethically sourced diamonds, the company has expanded its offerings to include Lab Grown Diamonds.
With over 20 years of experience in the jewelry and stone industry, Sarika and Pooja Naheta serve as the company’s promoters.
Peers of Varyaa Creations:
– Ashapuri Gold Ornament Ltd (P/E of 10.14)
– PNGS Gargi Fashion Jewellery Ltd (P/E of 9.44)
IPO Subscription Status:
As of day 2, the Varyaa Creations IPO subscription status stands at 1.34 times. The retail portion has witnessed a subscription of 2.48 times, while the NII portion has been booked 20%. As per data available on chittorgarh.com as of 17:03 IST, the company has received bids for 17,05,000 shares against the 12,70,000 shares offered.
IPO Details:
The Varyaa Creations IPO, with a value of approximately 20.10 crore, comprises a fresh issue of 1,340,000 equity shares, each with a face value of 10. Notably, there is no offer-for-sale component included.
The net proceeds from the offering will be utilized by the company for the following purposes:
– Financing the establishment of a new showroom
– Covering capital expenditures associated with the proposed new showroom
– Purchasing inventory for the proposed new showroom
– General corporate purposes
IPO Schedule:
– Finalization of share allocation basis: Friday, April 26
– Credit of shares to allottees’ accounts: Friday, April 26
– Initiation of refund processing: Monday, April 29
– Expected listing of shares on BSE SME: Tuesday, April 30
Bigshare Services Pvt Ltd serves as the registrar for the Varyaa Creations IPO, while Inventure Merchant Banker Services Pvt Ltd is the book running lead manager. The market maker for the IPO is Svcm Securities.
IPO GMP:
According to investorgain.com, the Varyaa Creations IPO GMP or grey market premium stood at 0, indicating that shares were being traded at the issue price of 150, with no premium or discount prevalent in the grey market. ‘Grey market premium’ reflects investors’ willingness to pay above the issue price.
