The Vishal Nirmiti and Nityas Gems & Jewellery IPOs close for bidding today, 5 October. Both issues opened on 30 September and saw good interest from investors. Vishal Nirmiti shares command a ₹20 premium, while Nityas Gems & Jewellery trades at a ₹2 premium. Allotment status is expected on 6 October.
IPO GMP comparison: Two mainboard IPOs - Vishal Nirmiti and Nityas Gems & Jewellery - will close for bidding today, 5 October, giving investors last chance to place their bids. Both mainboard IPOs had open for subscription on 30 September.
The allotment status for both the Vishal Nirmiti IPO and Nityas Gems & Jewellery IPO are expected to be finalised on Tuesday, October 6. Both issues are scheduled to list on the stock exchanges on Thursday, October 8.
Both the issues attracted investors interest on the second day of bidding. Vishal Nirmiti’s IPO was subscribed 57%, while Nityas Gems and Jewellery saw slightly stronger demand, with its issue subscribed 69% by the close of the second bidding day.
Vishal Nirmiti IPO vs Nityas Gems & Jewellery IPO - GMP compared
The shares of Vishal Nirmiti is commanding a premium of ₹20 in the grey market. The GMP of Vishal Nirmiti IPO is +20, according to Investorgain.
Meanwhile, the shares of Nityas Gems & Jewellery IPO is trading at ₹2 premium in the grey market. The GMP of Nityas Gems & Jewellery IPO stood at +2.
Vishal Nirmiti IPO vs Nityas Gems & Jewellery IPO - Listing share price prediction
According to the GMP trends, the estimated listing price of Vishal Nirmiti IPO is likely to be ₹240, which is 9.09% higher than the IPO price of ₹220.
On the other hand, the estimated listing price of Nityas Gems & Jewellery IPO is likely to be ₹77, which is 2.67% higher than the IPO price of ₹75.
Vishal Nirmiti IPO details
Vishal Nirmiti Ltd has set the price band for its initial public offering (IPO) at ₹208–220 per equity share. The issue includes a fresh issue of up to 69.71 lakh equity shares, aggregating to ₹145 crore at the upper end of the price band.
The IPO also comprises an offer for sale (OFS) of 15 lakh shares, worth around ₹33 crore at the upper price band. The overall issue size is estimated at approximately ₹178 crore.
Proceeds from the fresh issue will be utilised towards the company’s working capital needs, repayment of outstanding loans and general corporate purposes.
Vishal Nirmiti operates across civil engineering, manufacturing and construction activities.
Nityas Gems & Jewellery IPO details
Nityas Gems and Jewellery Ltd has fixed the price band for its IPO at ₹70–75 per equity share. At the upper end of the price band, the issue is expected to raise approximately ₹108.42 crore.
The IPO consists of 1.4456 crore equity shares, each with a face value of ₹5. The company plans to list its shares on both the NSE and BSE.
Proceeds from the issue will primarily be utilised to meet the company’s working capital needs and for general corporate purposes.
Nityas Gems and Jewellery operates in the lab-grown diamond jewellery segment, focusing on the design, manufacturing and sale of gold jewellery studded with lab-grown diamonds in India.