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The IPO of Shoora Designs, a company related to diamond trading and jewelery manufacturing business (Shura Designs IPO), has made investors rich on the first day. Shura Designs has entered a booming market. The company’s shares doubled investors’ money on the day of listing. Shares of Shura Design are listed on the BSE SME platform at a premium of 90%.
IPO Rs. came in at 48, the stock rose above 95 on the first day
The price band of Shura Designs IPO was Rs 48. The company’s shares traded at a 90% premium on August 29 at Rs. was listed at 91.20. With the listing, the company’s shares have touched the upper circuit of 5% and the shares are trading at Rs. 95.76 has been reached. The aggregate public issue size of Shura Designs is Rs. 2.03 crores.
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The IPO was subscribed more than 64 times
Shura Designs’ IPO was subscribed a total of 64.52 times. The retail quota of the company’s IPO was subscribed 93.73 times. Whereas, other quotas were subscribed 34.68 times. Retail investors can bid for 1 lot in a company’s IPO. Shura Designs IPO had 3000 shares in 1 lot. That is, investors have to invest a minimum of Rs 144000. Shura Designs’ IPO opened on August 17 and will remain open for subscription till August 21, 2023.
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Disclaimer: The information provided here is only about stock performance and does not constitute investment advice. Investing in the stock market is subject to risk and you should consult your advisor before investing.