The grey market investors also seem to be bullish on the jewellery retailer as they have given a premium in the range of 100-140 percent over the issue price of Rs 55 per share, analysts on anonymity said.
Shares of MVGJL were listed in October 2023, when the company raised Rs 270.20 crore via its initial stake sale by offering its shares in the range of Rs 204-215 apiece.
The IPO of Vaibhav Jewellers was fully subscribed on the last day of the bidding process. The overall subscription stood at 2.25 times at close. The issue was priced in the range of Rs 204-215. The IPO comprised a fresh issue of Rs 210 crore and an offer for sale (OFS) segment of up to 28 lakh equity shares. The company has raised about Rs 270 crore through the public offer.