Kolkata: There is no mainboard IPO this week. But the application process of two SME IPOs are opening today. They are Grover Jewells IPO and Brandman Retail IPO. NFP Sampoorna Foods IPO has been withdrawn. Grover Jewells is a company which is active in the manufacture of wholesale gold jewellery such as plain gold, studded, and semi-finished jewellery. These items are available in 22 carat, 20 carat and 18 carat variety.
Grover Jewells has a couple of showrooms in Karol Bagh and Chandni Chowk in Delhi. Brandman Retail was set up in 2021 and it is active in the domain of distributing international sports and lifestyle brands. It operates through distribution, licensing, retail and e-commerce and has exclusive brand outlets in cities Ahmedabad, Ambala, Dehradun, New Delhi, Jalandhar, Bathinda, Gurugram, Lucknow and Noida.
Brandman Retail IPO GMP, Grover Jewells IPO GMP
According to investorgain, Brandman Retail SME IPO on the morning of Feb 4 stood at Rs 12. Considering a price band of 176, Brandman Retail SME IPO might have a listing price of Rs 188 and, therefore, the listing gain could be 6.82%. On the other hand, Grover Jewells IPO GMP was zero this morning. However, it must be remembered that GMP or Grey Market Premium is an unofficial indicator, can be extremely volatile and cannot guarantee any listing gain.
Grover Jewells IPO
Business: Designing and manufacturing of a wide range of wholesale gold jewellery
IPO size: Rs 34 crore
Bid opens: Today, Feb 4
Bid closes: Feb 6
Price band: Rs 83-88
Minimum lot size: 1,600 shares
Allotment date: Feb 9
Refund date: Feb 10
Listing date: Feb 11
Lead manager: Finshore Management Services
Registrar: Maashitla Securities
Brandman Retail IPO
Business: Distributes international sports and lifestyle brands
IPO size: Rs 86.09 crore
Bid opens: Feb 4
Bid closes: Feb 6
Price band: Rs 167-176
Minimum lot size: 800 shares
Allotment date: Feb 9
Refund date: Feb 10
Listing date: Feb 11
Lead manager: Gretex Corporate Services
Registrar: Bigshare Services
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