Deepa Jewellers IPO Vs Rays Of Belief IPO Compared GMP, Price Band & More; Which One Should You Apply For?

Two more mainboard IPOs are opening for subscription tomorrow on September 1 giving investors a tough choice Deepa Jewellers and Rays of Belief. Both will list on the BSE and NSE after their allotment is finalised on September 4, and both are tentatively slated to list on September 8.

Despite the overlapping calendar, though, the two issues are built very differently, one is a gold and diamond jewellery wholesaler based out of Hyderabad, the other is a for-profit social enterprise running intervention centres for children with neurodevelopmental disorders. Here's is full comparison of both the IPOs:

Deepa Jewellers IPO Vs Rays Of Belief IPO: Details

Deepa Jewellers is worth Rs. 459.7-crore IPO and will be available for bidding from September 1 to September 3.. The issue has a price band of Rs. 168 to Rs. 177 per share, with a lot size of 84 shares, taking the minimum retail investment to Rs. 14,868 at the upper price band.
The IPO is a mixture of both fresh issues of Rs. 250 crore and an offer for sale (OFS) worth Rs. 209.7 crore.

The company is engaged in the wholesale and retail trading of 22K hallmarked gold and diamond jewellery.

Meanwhile the Rays Of Belief is coming up with a comparatively smaller Rs. 125-crore IPO, which will also open for subscription from September 1 to September 3 The company has fixed the price band at Rs. 227 to Rs. 239 per share, with a lot size of 62 shares, meaning retail investors will need a minimum of Rs. 14,818 to subscribe at the upper end of the price band.

Unlike Deepa Jewellers, the Rays Of Belief IPO is a 100% fresh issue, with no offer for sale component.

Deepa Jewellers IPO GMP Vs Rays Of Belief IPO GMP

A day Before Opening, both the issues are getting a fair share of demand in the grey market. Deepa Jewellers IPO is commanding a GMP of Rs. 38 as of today and estimated listing price is Rs. 215 with an expected profit of 21.47% at the upper price band of Rs. 177.

Similarly, Rays Of Belief IPO has a grey market premium of Rs. 39. At the upper price band of Rs. 239 per share, the estimated listing price stands at around Rs. 278, with a potential listing gain of 16.32% over the IPO issue price.