(MENAFN- KNN India) New Delhi, Jan 22 (KNN) Kabra Jewels, the Ahmedabad-based jewellery retailer, made a remarkable debut on the NSE SME exchange today, with shares listing at Rs 243.2, representing a 90 per cent premium over its issue price of Rs 128.

The initial public offering, consisting of 31.25 lakh fresh equity shares, garnered exceptional investor interest with a subscription rate of 350 times.

The company, which operates under the brand name KK Jewels, plans to utilise the IPO proceeds for debt repayment, working capital requirements, and general corporate purposes.

Known for its expertise in designing and marketing exclusive jewellery creations, Kabra Jewels maintains a comprehensive portfolio of gold, diamond, and silver ornaments, including wedding jewellery, coins, utensils, and artefacts.

The retailer currently operates six specialised showrooms in Ahmedabad under distinct sub-brands: KK Jewels Bridal, KK Jewels Diamond, KK Jewels Silver, KK Jewels Gold, KK Jewels - Atarashi, and KK Jewels - Silver Studio.

Additionally, the company maintains three offices and an exhibition centre, with all retail locations operating on rental arrangements.

Kabra Jewels' market entry comes at a time when India's gems and jewellery sector continues to be a vital contributor to the national economy, accounting for 7 per cent of GDP and providing employment to over 5 million individuals.

The industry also plays a crucial role in India's export landscape, constituting approximately 15 per cent of total exports.

Financial records indicate the company's strong performance, with reported revenues of Rs 125 crore and a net profit of Rs 8.8 crore for the period ended November 2024.

(KNN Bureau)

MENAFN22012025000155011030ID1109118856