Tepid Day-Two IPO Demand
Vishal Nirmiti and Nityas IPOs see tepid demand on the second day of bidding.
Anonymous
On the second day of bidding, Vishal Nirmiti’s ₹178-crore IPO was subscribed 30%, while Nityas Gems and Jewellery’s ₹108.42-crore IPO was subscribed 31%, up from 15% on the first day. Nityas demand was led by retail investors, whose portion was subscribed 82%; non-institutional investors subscribed 16%. Nityas plans to use ₹70 crore of its proceeds for working capital and the balance for general corporate purposes. Both IPOs close on October 5, with allotments expected October 6 and tentative listings on October 8. Grey-market premiums are unofficial and do not guarantee listing performance.
Key Points
1
Vishal Nirmiti’s ₹178-crore IPO consists of a fresh issue worth ₹145 crore and an offer for sale worth ₹33 crore; its price band is ₹208–220 per share.
2
Vishal Nirmiti’s non-institutional investor category was subscribed 41% on the second day, compared with 24% for the retail portion.
3
Nityas Gems and Jewellery’s offer is entirely a fresh issue, with no offer-for-sale component; its price band is ₹70–75 per share.
4
Nityas makes diamond-studded gold jewellery mainly for retailers and wholesalers through a B2B model, and also has a direct-to-consumer business through subsidiary Ayaani Diamonds and Jewellery.
5
Nityas reported FY26 total income of ₹203 crore, up 110% from ₹97 crore in FY25, while profit after tax rose 128% to ₹22 crore from ₹10 crore.
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