Kalyan Jewellers’ IPO sees muted demand; Nazara gets overbooked

The three initial public offerings (IPOs) got a mixed bag response from investors. Kerala-based gold retailer Kalyan Jewellers’ maiden offering, which closed on Thursday, managed to garner just 2.64 times subscription. Meanwhile, the of gaming company was subscribed more than 10 times. Suryoday Small Finance Bank too has received muted response so far. Both Nazara and Suryoday issues close on Friday. This has been a busy week for IPOs with six issues raising a cumulative Rs 4,524 crore.


Analysts said Kalyan’s weak performance in the previous three financial years coupled with slowdown in the economy weighed on investor sentiment. On the other hand, investors are attracted towards the Nazara given the rare investment opportunity in an online gaming and tech-education firm.

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