National News
Joyalukkas Inaugurates Grand New Showroom in HSR Layout, Bengaluru
The new showroom was unveiled by MLA M. Sathish Reddy, with key Joyalukkas leaders in attendance.
Joyalukkas, the world’s favorite jeweller, recently launched a state-of-the-art showroom in HSR Layout, Bengaluru. The grand inauguration ceremony was led by M. Sathish Reddy, MLA of Bommanahalli Constituency. The event also saw the presence of Thomas Mathew, Executive Director of Joyalukkas, Henry George, COO, P.D. Jose, GM of Jewellery, Rajesh Krishnan, DGM of Retail, and other prominent dignitaries. The new showroom is expected to enhance Joyalukkas’ presence in the region, offering a wide range of exquisite jewellery collections.
National News
Deepa Jewellers IPO Subscribed 43x
Bids From Non-Institutional Investors Spearheaded The Rally, Oversubscribing Their Reserved Allotment By Nearly 106 Times.
Massive Demand: Deepa Jewellers’ Rs 460-crore ($55M) public offer closed 43 times oversubscribed on its final day of bidding.
Non-Institutional Lead: Bids from non-institutional investors spearheaded the rally, oversubscribing their reserved allotment by nearly 106 times.
Anchor Backing: The company secured Rs 138 crore from marquee anchor investors, including Motilal Oswal Finvest and WhiteOak CapitalMutual Fund, prior to the mlaunch.
Market Debut: Shares of the B2B gold supplier are set to list on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) on September 8.
Gold jewellery supplier Deepa Jewellers saw massive investor appetite for its initial public offering, finishing its final day of book-building nearly 43 times oversubscribed on Thursday.
According to National Stock Exchange (NSE) data, the Rs 460-crore public issue received bids for more than 78.9 crore shares against an available pool of 1.85 crore shares.
The issue carried a price band of Rs 168 to Rs 177 per share, valuing the company at an estimated market capitalization of roughly Rs 1,700 crore at the upper end of the range. The offering comprised a fresh issue of equity shares worth up to Rs 250 crore alongside an offer-for-sale (OFS) of more than 1.18 crore shares.
Ahead of the public rollout, the Telangana-based company raised Rs 138 crore from prominent anchor investors, drawing capital from domestic heavyweights like Motilal Oswal Finvest and WhiteOak Capital Mutual Fund.
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