Shares of M K Sons Fine Jewels made a positive debut on the stock exchanges on November 4, listing at a premium of around 6 percent over the initial public offering (IPO) price of Rs 162 per share.
The stock listed at Rs 171.60 on the BSE, marking a premium of 5.93 percent over the issue price. On the National Stock Exchange (NSE), the shares debuted at Rs 171, up 5.56 percent from the IPO price.
Following the listing, M K Sons Fine Jewels' market capitalisation stood at around Rs 965.95 crore.
The listing was broadly in line with grey market expectations. Ahead of the stock market debut, the shares were commanding a grey market premium (GMP) of around 7 percent , according to Investorgain. The grey market premium is an unofficial indicator of investor sentiment and does not guarantee the actual listing price.
The Rs 275.4-crore IPO of M K Sons Fine Jewels received an overall subscription of 5.09 times during its three-day bidding period, which closed on October 30.