Kalyan Jewellers makes dull listing, stock slips 13.45%

Our Bureau Chennai | Updated on March 26, 2021

Suryoday SFB ends 9.44% lower on Day 1

Shares of Kalyan Jewellers India and Suryoday Small Finance Bank on Friday made a tepid listing on the bourses and closed in the red.

Kalyan Jewellers India stock closed 13.45 per cent lower at ₹75.30 on the BSE against its initial public offering (IPO) price of ₹87. The stock was listed at ₹73.90, a decline of 15.05 per cent from the issue price and further tumbled to ₹73. It hit a high of ₹81 during the day. On the NSE, the shares debuted at ₹73.95 and closed at ₹74.35.

About 35.79 lakh shares were traded on the BSE and over 5.14 crore shares were traded on the NSE during the day.

Kalyan Jewellers had come out with a ₹1,175-crore IPO with a price band of ₹86-87 per share. The IPO was subscribed 2.61 times.

The firm designs, manufactures, and sells a wide range of gold, studded and other jewellery products. Kalyan Jewellers had raised ₹351.89 crore from anchor investors, which included the Government of Singapore and the Monetary Authority of Singapore. The firm had allotted 4.04 crore shares at ₹87 a share to these marquee investors.

Suryoday SFB

Similarly, Suryoday Small Finance Bank on Friday closed 9.44 per cent lower at ₹276.20 from the issue price of ₹305. The stock, which listed at ₹293 and rose to ₹295.95, slipped to a day’s low of ₹262.05. On the NSE, the stock was listed at ₹292 and closed 10.90 per cent lower at ₹271.75.

As many as 5.08 lakh shares were traded on the BSE and over 41 lakh shares were traded on the NSE during the day.

The ₹582-crore IPO of Suryoday Small Finance Bank was subscribed 2.37 times. The offer comprised a fresh issue of 81.5 lakh shares and offer-for-sale of 1.094 crore shares by promoters.

Suryoday SFB had raised ₹170 crore from 13 anchor investors, including Axis Mutual Fund Trustee, ICICI Prudential Life Insurance Company and Goldman Sachs, at ₹305 a share.

Published on March 26, 2021

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