Investors placed bids for 1.11 crore equity shares over the three-day bidding period from October 5, against the offer size of 42.67 lakh shares, through 2,615 applications.
Qualified institutional buyers (QIBs) led the subscription, bidding 14.11 times their allotted quota. The segment received bids for 6.09 lakh shares through just two applications, against the reserved quota of 43,200 equity shares.
The IPO share allotment is expected to be finalised by October 8. R K Fashion Accessories shares are likely to begin trading on the NSE Emerge platform from October 12.
R K Fashion Accessories, which is engaged in the manufacturing of imitation jewellery through contract manufacturers and its wholesale distribution, as well as the trading of branded cosmetics, is raising Rs 34.99 crore through the IPO. The issue comprises 42.67 lakh shares at the upper end of the price band of Rs 77–82 per share.
The IPO comprises entirely a fresh issue. Of the net proceeds, Rs 5.21 crore will be utilised to meet the company's working capital requirements, while Rs 22.25 crore will be spent on establishing a new plating facility, a B2B showroom, and the interior and furnishing of a B2C showroom, as well as inventory costs for the proposed new showroom and stores.