Utssav Cz Gold Jewels IPO: Price Band, Lot Size, Day 1 Subscription Status

The initial public offering (IPO) of Utssav CZ Gold Jewels Ltd. opened for subscription on July 31. Utssav Cz Gold Jewels IPO is a book-built issue valued at Rs 69.50 crores, comprising a fresh issue of 63.18 lakh shares.

The price band for the Utssav Cz Gold Jewels IPO has been set between Rs 104 and Rs 110 per share. Investors must apply for a minimum lot size of 1,200 shares, which requires an investment of Rs 1,32,000 for retail investors. For high-net-worth individuals, the minimum investment is for 2 lots, totalling 2,400 shares, and amounting to Rs 2,64,000.

Subscription for the Utssav Cz Gold Jewels IPO will close on August 2. Allotments are expected to be finalised by Monday, August 5, and the listing is tentatively scheduled for Wednesday, August 7, on the NSE SME platform.

The IPO is being managed by Choice Capital Advisors Pvt. Ltd., with Bigshare Services Pvt. Ltd. serving as the registrar and Choice Equity Broking acting as the market maker.

The IPO was subscribed 1.83 times on Wednesday.

• Non-institutional buyers: 1.16 times.

• Retail investors: 3.16 times.

• Qualified Institutions: 0.00 times.

Founded in November 2007, Utssav Cz Gold Jewels Limited specialises in the design, manufacture, wholesale, and export of 18Karat, 20Karat, and 22Karat CZ Gold jewellery.

Its manufacturing facility, located in Andheri East, Mumbai, spans 8,275 square feet and has a production capacity of 1,500 kg per annum. Utssav Cz Gold Jewels cater to customers across 17 states and two union territories in India, as well as two international markets.

Net proceeds from the IPO are intended to be used to fund the working capital requirements of the company and general corporate purposes.