Khazanchi Jewellers, a leading gold and silver jewelry retailer based in Chennai, has witnessed an incredible surge in its share price since its debut on the Indian stock market.
The company was listed on the Small and Medium Enterprises (SME) segment of the BSE in August 2023.
The IPO opened for subscription between July 24-28, with a price band of ₹140 per share.
IPO and market debut
IPO details
The IPO of Khazanchi Jewellers was a fresh issue of 69.1 lakh equity shares, raising ₹97 crore for the company.
The shares had a muted stock market debut on August 7, 2023, listing at ₹142.30 apiece on the SME platform of BSE—merely 1.64% higher than the issue price.
Despite limited gains on listing day, the stock has witnessed a strong uptrend since then.