Rambhajo Jewellery IPO Day 2: GMP ₹55 (₹-2)
Welcome back to our daily check-in on the Rambhajo Jewellery SME IPO on the NSE! As we step into Day 2 of the subscription period, which runs from June 23rd to June 25th, 2026, the market is keenly watching the unfolding investor sentiment. With the issue price fixed at ₹130 per share, investors are weighing their options, and today’s update sheds light on where things stand.
| Date | GMP | Est. Listing |
|---|---|---|
| 25 Jun | +₹50 | ₹180 |
| 24 Jun | +₹55 | ₹185 |
| 23 Jun | +₹55 | ₹185 |
| 22 Jun | +₹57 | ₹187 |
| 20 Jun | +₹57 | ₹187 |
Subscription Status
It’s still early days, but the subscription numbers for Day 2 are currently showing 0x across all categories – Retail, NII (Non-Institutional Investors), and QIB (Qualified Institutional Buyers). This might seem a bit quiet, and frankly, it is. For an SME IPO, especially one that just opened for subscriptions yesterday, seeing zero subscription across the board on Day 2 can be a mixed bag. On one hand, it’s not unusual for the bulk of subscriptions to come in on the last day, particularly for smaller issues. Many investors prefer to wait and see the overall trend before committing their funds. However, the complete absence of any activity so far could also be a point of concern for some. It suggests that either investors are holding back significantly, waiting for more momentum, or perhaps the initial buzz hasn’t translated into immediate applications. We’ll need to see how the remaining days unfold to get a clearer picture of demand.
| Category | Subscription | Progress |
|---|---|---|
| Retail | 95.30x | |
| NII / HNI | 536.38x | |
| QIB | 174.98x | |
| Total | 212.63x |
| Date | Retail | NII | QIB | Total |
|---|---|---|---|---|
| 25 Jun | 95.30x | 536.38x | 174.98x | 212.63x |
| 24 Jun | 35.46x | 121.16x | 1.56x | 44.16x |
| 23 Jun | 11.55x | 23.73x | 1.11x | 11.18x |
GMP Update
Shifting gears to the Grey Market Premium (GMP), the sentiment appears to be reflecting some caution. Yesterday, Rambhajo Jewellery’s GMP stood at ₹57. Today, it has seen a slight dip to ₹55, a decrease of ₹2. While this is a marginal change, it’s worth noting. The GMP is often seen as a real-time indicator of investor demand and perceived listing gains in the unofficial market. A stable or increasing GMP is generally a positive sign, suggesting strong interest and confidence in the stock’s debut. A slight decrease, as we’re seeing today, doesn’t necessarily spell doom, but it does indicate a cooling off or a more conservative outlook from those trading in the grey market. The expected listing price, based on the current GMP, hovers around ₹185 (Issue Price ₹130 + GMP ₹55). This still offers a healthy potential upside, but the recent dip warrants attention.
Should You Apply?
So, the big question: should you be applying for the Rambhajo Jewellery IPO? It’s a balanced view at this stage. The subscription numbers are currently flat, which means there’s ample opportunity to get an allocation if you decide to apply. The GMP, while showing a slight decrease, still points towards a decent listing gain. The lot size is 100 shares, so you’ll need ₹13,000 to apply for one lot at the issue price. For retail investors, this is a relatively small investment to consider for potential gains. However, it’s crucial to remember that GMP is an unofficial indicator and not guaranteed. The SEBI advisors always recommend thorough research and understanding of the company’s fundamentals before investing. While the jewellery sector can be cyclical, Rambhajo Jewellery’s specific business model, management quality, and future prospects are key factors to consider. The next two days of subscription will be critical in determining the overall demand and, consequently, the listing performance. Stay tuned for our final update on the closing day!