Varyaa Creations IPO, a fixed-price offering of ₹20.10 crore, is set to open for subscription on April 22 and close on April 25, 2024.
The Mumbai-based wholesale jewelry firm’s public offering comprises entirely a fresh issue of 13.4 lakh shares with a face value of ₹10 each.
This SME IPO, slated to be listed on the BSE, includes a market maker portion of 70,000 shares but no anchor portion.
SVCM Securities serves as the market maker for the Varyaa Creations IPO, with Inventure Merchant Banker Services Pvt Ltd appointed as the book-running lead manager, and Bigshare Services Pvt Ltd acting as the registrar for the IPO.
Varyaa Creations’ promoters, Pooja Vineet Naheta and Sarika Amit Naheta, currently hold a 100% stake in the firm. Post-IPO, their ownership will decrease to 72.02%.
Five key points to note about the Varyaa Creations IPO:
Price Band and Lot Size: The IPO share price for Varyaa Creations is set at ₹150 per share, with a minimum lot size for retail investors of 1,000 shares, requiring an investment of ₹150,000. High net worth individual investors can bid for a minimum of 2 lots or 2,000 shares, requiring a minimum investment of ₹300,000.
Allotment and Refunds: The company is expected to finalize the basis of IPO share allotment on April 26 and initiate refunds for non-allottees on April 29. Successful applicants will have shares transferred to their Demat accounts on the same day.
Listing: Varyaa Creations will list its shares on the BSE SME platform, with a tentative listing date set for April 30, 2024.
Reservation: The IPO has reserved 50% or 6,70,000 shares for retail investors, with an equal quantity available for buyers in other categories.
Objective: The company intends to utilize the funds raised for establishing a new showroom, capital expenditure, and day-to-day business operations inventory.
About Varyaa Creations Ltd:
Established in 2005, Varyaa Creations specializes in the wholesale trading of gold and silver jewelry, along with dealing in precious and semi-precious stones. Their product range includes bangles, necklaces, tops, bracelets, and earrings, as well as gemstones, diamonds, lab-grown diamonds, and pearls. Additionally, the company offers custom-made jewelry tailored to customers’ specifications, catering to various price points and occasions.
