BSE SME Retaggio Industries' sparkle fades on listing day

The scrip was listed at 25.10, almost matching the initial public offer (IPO) price. The stock was currently down 4.38% over its listing price.

The counter hit a high of Rs 25.25 and a low of Rs 23.85. About 6.18 lakh shares of the company changed hands at the counter.

Retaggio Industries' IPO was subscribed 1.78 times. The issue opened for bidding on 27 March 2025 and it closed on 2 April 2025. The issue price of the IPO was set at Rs 25 per share.

The IPO comprised fresh issue of 61,98,000 equity shares. The promoter and promoter group shareholding diluted to 60.18% from 99.99% pre-issue.

The company intends to utilize the net proceeds for repayment/prepayment of certain debt facilities and working capital requirements.

Retaggio Industries is a jewellery manufacturing company with a strong presence and significant experience in catering to the B2B segment of the industry. The company specialized in the production and sale of a wide range of jewellery products, which include gold jewellery, diamond jewellery, precious stones, and other fancy jewellery items, as well as bullion in the form of coins and bars. The company is known for its expertise in jewellery manufacturing, which involves designing and creating various decorative pieces such as rings, bangles, necklaces, bracelets, earrings, and more. As on 3 March 2025, the company had 15 employees on payroll.

The company recorded revenue from operations of Rs 9.03 crore and net profit of Rs 0.81 crore for the period as of 30 September 2024.