Utsav Cz Gold Jewels IPO Listed Flat at ₹110.05, Surge Over 5% to Hit Upper Circuit

On the NSE SME, the share price of Utsav Cz Gold Jewels listed tepidly. The share price, which was posted at ₹110.05, was not much more than the ₹110 issue price. Following that, the stock increased over 5% at ₹115.55 & was trapped in the upper circuit during intraday trading. Given the subscription status, the market anticipated reasonable listing profits from the price of Cz Gold Jewels shares.

A total of 47.58 subscriptions had been made to the Utsav Cz Gold Jewels IPO. The public issue was subscribed 46.71 times in the retail sector, 36.43 times in the QIB category, & 64.47 times in the NII category by August 2, 2024 (Day 3). 
About and objective of Utsav Cz Gold Jewels IPO.

Check Utsav Cz Gold Jewels IPO Subscription Status

It is a book-built issue, the ₹69.50 crore Utsav Cz Gold Jewels IPO. This IPO consisted of a whole fresh 63.18 lakh share offering. The Utssav Cz Gold Jewel intends to use the net proceeds to finance the working capital requirements of the business & set aside a portion for general corporate purposes. The IPO for Utssav Cz Gold Jewels was up for subscription on July 31, 2024, & concluded on August 2, 2024. It is a book-built issue, the ₹69.50 crore Utsav Cz Gold Jewels IPO. This IPO consisted of a whole fresh 63.18 lakh share offering.

The Utssav Cz Gold Jewel intends to use the net proceeds to finance working capital requirements for the business in addition to allocating a portion for general corporate purposes. Bigshare Services Pvt Ltd is the registrant for the Utssav Cz Gold Jewels IPO, while Choice Capital Advisors Pvt Ltd is the book-running lead manager. The market maker for the Utssav Cz Gold Jewels IPO is Choice Equity Broking. Founded in November of 2007, Utssav CZ Gold Jewels Limited is a firm that produces, sells in bulk, & distributes 18Karat, 20Karat, & 22Karat CZ gold jewelry.

A wide range of products, including watches, brooches, bracelets, necklaces, pendants, earrings, & rings, are produced & sold by the company.

To Summarize

Utsav Cz Gold Jewels had a tepid listing on the NSE SME at ₹110.05, just above its issue price of ₹110. The share price then increased by 5%, hitting the upper circuit limit during intraday trading. The IPO, ₹69.50 crore book-built issue, received 47.58 subscriptions with significant interest from retail, QIB, & NII investors.