India: Kalyan Jewellers, Suryoday Small Finance Bank make weak market debut

India: Kalyan Jewellers, Suryoday Small Finance Bank make weak market debut

Shares of Kalyan Jewellers and Suryoday Small Finance Bank made weak debut on stock exchanges today. Kalyan Jewellers shares were trading at 78.70 as compared to issue price of 87. Suryoday Small Finance Bank shares were trading at 284 as compared to issue price of 305.

Both the issues were subscribed over 2 times. Kalyan Jewellers 1175 crore initial public offer was subscribed 2.61 times. It received bids for 24,95,68,044 shares against 9,57,09,301 shares on offer, as per the NSE data. The portion for qualified institutional buyers (QIBs) was subscribed 2.76 times, non-institutional investors 1.91 times and retail individual investors (RIIs) 2.82 times.