Priority Jewels Makes Sparkling Market Debut With 15% Listing Gain, Shares Hit Upper Circuit As Investor Demand Shines

New Delhi: Priority Jewels shares made a strong stock market debut on Friday, September 4, listing at a premium of up to 15% over the IPO price before extending gains to hit the upper circuit on both exchanges.

The Priority Jewels share price opened at Rs 230 on the NSE, delivering a 15% listing gain over the issue price of Rs 200.

On the BSE, Priority Jewels shares debuted at Rs 225.20, representing a premium of 12.6%.

Priority Jewels Shares Hit Upper Circuit

Buying momentum continued after the listing, pushing the stock further higher.

Priority Jewels shares climbed to the upper circuit of Rs 241.50 on the NSE, marking a 20.75% gain over the IPO price. On the BSE, the stock hit its upper circuit at Rs 236.45, up 18.23% from the issue price.

Following the rally, the company’s market valuation stood at Rs 434.70 crore on the NSE and Rs 425.61 crore on the BSE.

IPO Subscribed Over 100 Times

The strong Priority Jewels IPO listing followed overwhelming investor demand for the public offering.

The IPO was subscribed 100.45 times on the final day of bidding, reflecting strong interest from investors.

Priority Jewels had earlier raised Rs 27.5 crore from four anchor investors, including WhiteOak Capital and Sanshi Fund-I.

The Rs 91.50-crore IPO was priced between Rs 190 and Rs 200 per share and consisted entirely of a fresh issue of up to 45.75 lakh equity shares.

Mefcom Capital Markets served as the sole book-running lead manager for the Priority Jewels IPO.