Varyaa Creations IPO: The IPO of jewelery industry company Varya Creations has had a bumper start in the stock market. The IPO was listed on the second trading day of the week i.e. Tuesday at 90% premium. However, soon after the bright start, shares of Varya Creations went into profit-taking mode and hit a circuit low of 5%.
List at what price
Varya Creations’ IPO was listed at ₹285, a 90% premium over its issue price of ₹150. Let us tell you that the company’s IPO started on Monday, April 22 and closed on Thursday, April 25. The issue price of the IPO was fixed at ₹150 on a face value of ₹10. The lot size of the issue consists of 1,000 shares.
This power share fell from ₹ 137 to ₹ 19, now there is loot to buy, put the upper circuit
About the company
Talking about Varya Creations, this company deals in gold, silver and other metals as well as precious stones. The company plans to focus on jewelery manufacturing and branding in the current financial year. The company manufactures its jewelery using job workers based in Mumbai. Company promoters Sarika and Pooja Naheta have over 20 years of experience in the jewelery and stone industry.
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₹20.10 crore IPO
Varya Creations IPO size was ₹20.10 crore. This includes a fresh issue of 1,340,000 equity shares of face value ₹10 each. The proceeds from the IPO will be used by the company to open new showrooms. There are also plans to purchase inventory and do general corporate work for the proposed new showroom.
BigShare Services Pvt Ltd Varya Creations is the registrar for the IPO, while Venture Merchant Banker Services Pvt Ltd is the book running lead manager.