PC Jeweller has surged 7% to Rs 176, extending its previous day’s over 10% rally on the Bombay Stock Exchange. The stock opened at Rs 166 and has seen a combined 9.93 million shares changing hands on the counter till noon deals on both the exchanges.
The company which got listed on December 27, 2012 has rallied over 35% from its issue price of Rs 130 per share offered to retail individual investors and eligible employees. The company had offered equity shares priced at Rs 135 per share to qualified institutional investors, high net worth individuals and anchor investors.
The Delhi-based jewellery maker and retailer have raised Rs 609 crore by issuing 45.1 million equity shares through initial public offer (IPO). PC Jeweller has 30 showrooms across the country and it plans to open 20 new retail showrooms by utilising funds raised through IPO.
The list of anchor investors include DB International (Asia), Reliance Vision Fund, DVI Fund Mauritius, Stichting Pensioenfonds ABP, Mirae Asset India Bluechip Equity Master Investment Trust, Goldman Sachs India Fund, HSBC Tax Saver Equity Fund, Birla Sunlife Midcap Fund and Tata AIA Life Insurance Company.