The initial public offering of Kenrik Industries closed with 1.94 times subscription on May 6, with investors buying 68.04 lakh shares compared to offer size of 34.98 lakh shares via 1,073 applications.
Retail investors bid 63 lakh shares via 1,050 applications, and non-institutional investors 5.04 lakh shares through 23 applications, the subscription data on the BSE showed.
The Ahmedabad-based gold jewellery designer and distributor targets to raise Rs 8.75 crore via maiden public issue at a price of Rs 25 per share.
It was a fixed price issue.
Kenrik Industries will finalise the IPO share allotment by May 7. Investors can start trading in Kenrik Industries shares on the BSE SME effective May 9.
Click Here To Read All IPO News
The IPO funds will be utilised mainly for working capital requirements, and the remainder for general corporate expenses.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
