Shoora Designs IPO is a fresh issue comprising 4,23,000 equity shares of the face value of ₹10, aggregating upto ₹2.03 crore.The company intends to utilise the net proceeds from the issue towards working capital requirements and general corporate purposes.

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Shoora Design IPO’s basis of allotment shares will be done on Thursday, August 24 and the company will initiate refunds on Friday, August 25. The shares will be credited to the demat account of allottees on Monday, August 28. Shoora Design shares are likely to be listed on BSE SME on Tuesday, August 29.

Kfin Technologies Limited is the IPO registrar while Swaraj shares and securities private limited is the IPO lead manager. Satish K Kansodariya, Sejalben Satish Kansodariya, and Rajeshbhai Labhubhai Mer are the promoters of the company.

Shoora Designs is engaged in the business of manufacturing and trading diamonds and jewelry. The company manufactures natural diamonds and jewelry mainly focusing on the natural lab grown diamond and jewelry. Shoora Designs’ jewelry is available on both offline market and online platforms.

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Shoora Designs Limited IPO subscription status was 64.09 times on day 3, so far. The issue received positive response from retail investors who’s portion set was subscribed 92.91 times, and non-institutional buyers who’s portion set was subscribed 34.65, according to data on chittorgarh.com.

The company has received bids for 2,53,80,000 shares against 4,23,000 shares on offer, at 16:54 IST, according to data on chittorgarh.com.

On day 1, Shoora Designs IPO Subscription Status was 3.14 times, and Shoora Designs IPO Subscription Status on day 2 was 10.17 times.

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Shoora Designs GMP today

Shoora Designs Limited IPO GMP today or grey market premium is +0. This indicates that the shares of Shoora Designs Limited IPO were trading at their issue price with no premium or discount in the grey market on Monday, according to topsharebrokers.com.

As per topsharebrokers.com analysts, today’s IPO GMP trend, no major movement is observerd in GST, expecting same trande to continue till listing day.The lowest GMP is recorded at ₹0 while the highest GMP is ₹0.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

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Updated: 21 Aug 2023, 05:03 PM IST