Deepa Jewellers Shares Surge Nearly 25% In Market Debut

Deepa Jewellers sold shares to the public through an IPO.

Its shares began trading at much more than the IPO price.

The IPO price was Rs 177 per share.

On the first day, the shares opened at about Rs 221.

Investors had shown very strong interest in the IPO.

They subscribed nearly 43 times the number of shares offered.

The company will use much of the new money to manage and expand its jewellery inventory.

Deepa Jewellers designs, processes and supplies hallmarked gold jewellery.

It mainly serves businesses in five southern Indian states.