Kalyan Jewellers shares close with over 14 pc discount in debut trade

Shares of Kalyan Jewellers India Ltd closed the day with a discount of over 14 per cent in its debut trade on Friday against an issue price of Rs 87.

The stock listed at Rs 73.90, a decline of 15.05 per cent from the issue price on the BSE. It further tumbled 16.09 per cent to Rs 73. Later, it closed at Rs 75.30, lower by 13.44 per cent.

On the NSE, it debuted at Rs 73.95, a discount of 15 per cent and closed at Rs 74.35, lower by 14.54 per cent.

Its market valuation was at Rs 7,756.30 crore on BSE.

In traded volume terms, 35.79 lakh shares were traded at the BSE and over 5.14 crore units at the NSE during the day.

Kalyan Jewellers initial public offer was subscribed 2.61 times earlier this month.

Price range for the Rs 1,175-crore offer was fixed at Rs 86-87 per share.

Kalyan Jewellers designs, manufactures, and sells a wide range of gold, studded and other jewellery products.