Indian IPOs: Vishal Nirmiti, Nityas Gems Draw Varied Demand
Vishal Nirmiti’s public offering is 57% subscribed with an estimated ₹240 listing, while Nityas Gems & Jewellery reached 69% subscription, potentially listing at ₹79.
Subscription Status and Key Dates
Two Indian initial public offerings (IPOs) are currently underway, showing varied investor interest. Vishal Nirmiti’s offering has achieved a 57% subscription rate, while Nityas Gems & Jewellery has seen a higher demand, reaching 69% subscription. Both public issues commenced their bidding period on 30 September and are scheduled to close on 5 October.
These figures represent the subscription status as of the second day of bidding, indicating active participation from investors in the grey market.
Vishal Nirmiti’s ₹178 Crore Issue
Vishal Nirmiti, a company involved in civil engineering, manufacturing, and construction, has set its IPO price band between ₹208 and ₹220 per equity share.
The total issue size is approximately ₹178 crore, comprising a fresh issue of up to 69.71 lakh (6.971 million) equity shares, aiming to raise ₹145 crore, alongside an offer for sale (OFS) of 15 lakh (1.5 million) shares valued at about ₹33 crore. Proceeds from the fresh issue are intended for working capital, loan repayment, and general corporate purposes.
Nityas Gems Targets ₹108 Crore
Nityas Gems & Jewellery, which designs, manufactures, and sells lab-grown diamond-studded gold jewellery in India, has fixed its IPO price band from ₹70 to ₹75 per equity share. The company seeks to raise approximately ₹108.42 crore at the upper end of this band through the issue of 1.4456 crore (14.456 million) equity shares.
These shares are slated for listing on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The net proceeds will fund working capital and general corporate requirements.
Grey Market Premiums Differ
The grey market premium (GMP) for Vishal Nirmiti’s IPO stands at +₹20, suggesting a potential listing price of ₹240 per share. This represents a 9.09% increase over its IPO price of ₹220. In contrast, Nityas Gems & Jewellery’s IPO shows a GMP of +₹4, indicating an estimated listing price of ₹79 per share, a 5.33% rise from its IPO price of ₹75.
These premiums reflect current investor sentiment in the unofficial market, offering an early gauge of expected post-listing performance for both companies on Indian exchanges.
This article is journalism, not investment advice; consult a licensed professional before making financial decisions. Market data is indicative, may be delayed, and should be verified with your broker or exchange before use.
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