Latest News | Manoj Vaibhav Gems Shares Debut on Flat Note

New Delhi, Oct 3 (PTI) Shares of Manoj Vaibhav Gems N Jewellers Ltd made a flat market debut, listing at par with its issue price of Rs 215, on Tuesday.

The stock got listed at Rs 215 on both the BSE and NSE.

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Later, it hit a high of Rs 221.90, up 3.20 per cent from the issue price on the BSE.

At the NSE, it climbed 3.25 per cent to Rs 222.

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The company commanded a market valuation of Rs 1,062.43 crore.

The Initial Public Offering (IPO) of Manoj Vaibhav Gems N Jewellers was subscribed 2.25 times last week.

The initial share sale had a fresh issue of up to Rs 210 crore and an offer for sale of up to 2,800,000 equity shares.

The price range for the offer was at Rs 204-215 per share.

The company, a regional jewellery brand in South India, has a presence in Andhra Pradesh and Telangana, with 13 showrooms across eight towns and two cities.

The funds raised will be utilised for opening eight new showrooms, inventory for these stores and general corporate purposes.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)