markets · Markets / IPOs / Listings
Nityas Gems trades 12% above ₹75 issue at upper band; Vishal Nirmiti and Eventions locked at lower band on listing day
NSE quote data at 2:24 p.m. IST: Nityas Gems and Jewellery discovered its price at ₹80 against a ₹75 issue and is trading at ₹83.90, 10 paise below its ₹84 upper band, with buy orders outnumbering sell orders. Vishal Nirmiti discovered at ₹215 against ₹220 and sits at its ₹204.25 lower band; Eventions discovered at ₹111 against ₹118 and is stuck at ₹105.45. Neither has a single buy order. Yesterday’s SME debutants hit their lower bands again.
Capital Chronicle Desk~4 minDual-layer
60-sec
Listing-day tape (Thu 8 Oct 2026, 2:24 p.m. IST, NSE quote data): One of today’s three IPO listings trades above its issue price; two are pinned to the floor. This morning’s listing-day story has the circulars, books and prospectus numbers.
| Nityas Gems and Jewellery | Vishal Nirmiti | Eventions | |
|---|---|---|---|
| Symbol (series) | NITYAS (BE) | VNL (BE) | EVENTIONS (ST, NSE Emerge) |
| Issue price | ₹75 | ₹220 | ₹118 |
| Discovered / opening price | ₹80.00 — 6.7% above issue | ₹215.00 — 2.3% below | ₹111.00 — 5.9% below |
| Day’s price band | ₹76.00–84.00 (5%) | ₹204.25–225.75 (5%) | ₹105.45–116.55 (5%) |
| Day high / low | ₹84.00 / ₹77.00 | ₹215.00 / ₹204.25 | ₹111.00 / ₹105.45 |
| Last traded price | ₹83.90 | ₹204.25 | ₹105.45 |
| vs issue price | +11.9% | −7.2% | −10.6% |
| Shares traded | 74,10,309 | 6,42,907 | 16,81,200 |
| Traded value | ≈ ₹59.9 crore | ≈ ₹13.7 crore | ≈ ₹18.7 crore |
| Average traded price | ₹80.81 | ₹213.69 | ₹110.99 |
| Market value at last price | ≈ ₹483.2 crore | ≈ ₹539.0 crore | ≈ ₹128.5 crore |
| Order book at 2:24 p.m. | 10.92 lakh shares bid; 4.31 lakh for sale, all at ₹84 | No buy orders; 23.10 lakh for sale | No buy orders; 5.63 lakh for sale |
Jyoti Resins & Adhesives, which joined NSE today without an issue, traded at ₹848.05 (+0.6% vs its ₹842.95 reference price) on just 3,002 shares.
Takeaway: The book with the strongest retail demand (Nityas, retail 4.04×) is the only one trading above issue. Vishal Nirmiti (1.71×) and Eventions (2.32×) went to the lower band within the session. All three trade in trade-for-trade series, so every trade settles by delivery. No GMP, no price forecast. Not investment advice.
Analysis
Nityas Gems: premium at the open, then a run to the band
- NSE’s pre-open call auction set ₹80 as the base price, ₹5 above the ₹75 issue price. The stock dipped to ₹77 and then climbed to the ₹84 upper band — 5% above the discovered price, the most NSE allows today.
- 74.10 lakh shares have changed hands — about 44.5% of the 1,66,56,000 shares free of lock-in (Capital Chronicle arithmetic on NSE data and NSE Circular NSE/CML/76782). The ₹80.81 average price shows most volume went through near the opening level.
- At 2:24 p.m., buyers wanted 10.92 lakh shares against 4.31 lakh offered, every sell order sitting at ₹84.
- At ₹83.90 the company is valued at about ₹483.2 crore, about ₹51 crore above its value at the issue price and about 21.6× FY26 restated profit of ₹22.32 crore (Capital Chronicle arithmetic on NSE and Prospectus figures).
Vishal Nirmiti: below issue from the first trade
- The auction discovered ₹215, ₹5 below the ₹220 issue price. The ₹213.69 average price shows most of the 6.43 lakh traded shares changed hands close to the open before the price slid to the ₹204.25 lower band (Capital Chronicle reading of NSE data).
- At 2:24 p.m., NSE’s order book showed no buy orders and 23.10 lakh shares for sale, 13.41 lakh of them at the band price.
- Traded volume equals about 7.9% of the 80,90,909 shares free of lock-in — a thin day against the size of the float (Capital Chronicle arithmetic).
- At ₹204.25 the company is valued at about ₹539.0 crore — about ₹41.6 crore below its value at ₹220, and about 21.6× FY26 profit of ₹24.98 crore (Capital Chronicle arithmetic).
Eventions: heavy trading, then the floor
- Discovered at ₹111, 5.9% below the ₹118 issue. The day high is the opening price; the stock then went straight to its ₹105.45 lower band.
- 16.81 lakh shares have traded — about 52% of the 32,30,400 shares issued in the IPO (Capital Chronicle arithmetic). The ₹110.99 average price shows almost all of it went through at the open.
- No buy orders at 2:24 p.m.; 5.63 lakh shares for sale. At ₹105.45 the company is valued at about ₹128.5 crore, about 16.6× FY26 profit of ₹7.72 crore (Capital Chronicle arithmetic).
Jyoti Resins & Adhesives: quiet first NSE session
- With no issue, there was no auction: trading opened at ₹840.15 against a reference price of ₹842.95 and ranged ₹840–857.60. Only 3,002 shares (about ₹25.4 lakh) traded by 2:24 p.m. At ₹848.05, the 1,20,00,000 shares are worth about ₹1,017.7 crore (Capital Chronicle arithmetic).
Yesterday’s SME debutants: lower band again
| Green Asia Impex (GREENASIA) | Papadmalji Agro Foods (PAPADMALJI) | |
|---|---|---|
| Issue price | ₹89 | ₹72 |
| Previous close | ₹84.55 | ₹68.75 |
| Last traded (2:24 p.m.) | ₹80.35 — lower band | ₹65.35 — lower band |
| vs issue price | −9.7% | −9.2% |
| Shares traded | 24,000 | 4,800 |
| Order book | No buy orders; 88,000 for sale | No buy orders; 2,62,400 for sale |
Volumes fell sharply from day one (12.54 lakh and 16.05 lakh shares on Wednesday). At the last price, Green Asia is valued at about ₹171.6 crore and Papadmalji at about ₹61.4 crore (Capital Chronicle arithmetic). See the day-one tape.
Pipeline check
- NSE’s current and upcoming issue lists at 2:25 p.m. show no equity IPO open or scheduled — only two debt issues (Grace Cancer Foundation’s zero-coupon issue, closing 9 Oct, and an SMC Global Securities NCD, closing 16 Oct).
- R.K. Fashion Accessories (SME, book closed at 2.61×): its RHP points to allotment on or about today and trading on or about Mon 12 Oct. Capital Chronicle had not located an NSE listing circular for it as of 2:25 p.m.
What to watch
- Whether VNL and EVENTIONS find buyers before the 3:30 p.m. close, and whether NITYAS closes at its ₹84 band
- NSE listing circular for R.K. Fashion Accessories
- Day-two trade in all three IPOs on Friday
Sources
- NSE quote data (GetQuote), last updated 8 Oct 2026, 2:23–2:24 p.m. IST — NITYAS and VNL (series BE), EVENTIONS, GREENASIA and PAPADMALJI (series ST), JYOTIRES (series EQ): base/open price, day high/low, last price, average price, traded volume and value, price band, market capitalisation, order book — https://www.nseindia.com/get-quote/equity/NITYAS · https://www.nseindia.com/get-quote/equity/VNL · https://www.nseindia.com/get-quote/equity/EVENTIONS · https://www.nseindia.com/get-quote/equity/JYOTIRES · https://www.nseindia.com/get-quote/equity/GREENASIA · https://www.nseindia.com/get-quote/equity/PAPADMALJI
- NSE new listings for 8 Oct 2026 — EVENTIONS (ST), JYOTIRES (EQ), NITYAS (BE), VNL (BE); special pre-open for the three IPOs — https://www.nseindia.com/api/new-listing-today?index=NewListing
- NSE Circulars NSE/CML/76782, NSE/CML/76773 and NSE/CML/76763 (7 Oct 2026) — listing of Nityas Gems and Jewellery, Vishal Nirmiti and Eventions: issue prices, listed share counts, lock-in schedules — https://nsearchives.nseindia.com/content/circulars/CML76782.zip · https://nsearchives.nseindia.com/content/circulars/CML76773.zip · https://nsearchives.nseindia.com/content/circulars/CML76763.zip
- NSE Circular NSE/CML/76747 (6 Oct 2026) — new listing of Jyoti Resins & Adhesives: 1,20,00,000 shares — https://nsearchives.nseindia.com/content/circulars/CML76747.zip
- NSE IPO data — current and upcoming issue lists, 8 Oct 2026 — https://www.nseindia.com/api/ipo-current-issue · https://www.nseindia.com/api/all-upcoming-issues?category=ipo
- Nityas Gems and Jewellery Limited Prospectus dated 6 Oct 2026 and Vishal Nirmiti Limited Prospectus dated 5 Oct 2026 — FY26 restated profit — https://nityas.in/wp-content/uploads/2026/10/Nityas-GemsProspectus.pdf · https://www.vishalnirmiti.com/_files/ugd/052e71_507fc8ccbedb491cac25fbba667575db.pdf
- Eventions Limited and R.K. Fashion Accessories Limited Red Herring Prospectuses (as hosted by NSE) — FY26 restated profit; R.K. Fashion timetable — https://nsearchives.nseindia.com/content/ipo/RHP_EVENTIONS.zip · https://nsearchives.nseindia.com/content/ipo/RHP_RKFAL.zip
- Capital Chronicle: listing-day story (books, lock-ins) · 7 Oct day-one tape
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