Renaissance Jewellery closes at Rs 165, premium of 10%

MUMBAI: Renaissance Jewellery on Wednesday closed at Rs 164.9 on NSE, a premium of Rs 14.90 or 9.93 per cent against issue price of Rs 150 per share.

After listing today on the Bombay Stock Exchange, the share touched a high of Rs 200 and low of Rs 163. Traded volume was 51,50,363 shares.

Renaissance is into studded gold, platinum and silver jewellery. The company's initial public offering was subscribed 23.63 times.

Proceeds from the issue will be used for expansion of manufacturing capacity at Bhavnagar unit, expansion of capacity and modernization of the Mumbai units, and investment in subsidiary.