Shares of Koura Fine Diamond Jewelry were quoting at Rs 76.50 on the BSE, a premium of 39.09% compared with the issue price of Rs 55.
The scrip was listed at Rs 75, a premium of 36.36% compared with the initial public offer (IPO) price. The stock is currently up 2% over its listing price.The counter hit a high of Rs 78.75 and a low of Rs 71.25. About 6.88 lakh shares of the company changed hands at the counter.
Koura Fine Diamond Jewelry's IPO was subscribed 681.76 times. The issue opened for bidding on 6 March 2024 and it closed on 11 March 2023. The price of the IPO was fixed at Rs 55 per share.
The IPO comprised fresh issue of 10,00,000 shares. The company intends to utilise the net proceeds of issue to meet funding the working capital requirements of the company and general corporate purposes.
Koura Fine Diamond Jewelry engaged into the wholesale business of gold and diamonds jewellery. The company sale wide range of jewellery products, including gold jewellery and diamond jewellery. The companys business model is B2B. The firm deals in two types of jewellery, 22 Karat Gold jewellery and 18 Karat Diamond jewellery. The company offers a diverse range of jewellery products and is dedicated to designing, manufacturing, and selling high-quality jewellery that includes necklaces, chains, rings and earrings. As of 31 December 2023, the company has 8 employees in various departments.
The company recorded revenue from operations of Rs 5.55 crore and net profit of Rs 1.3 crore for the period as on 30 September 2023.
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