Tara Jewels Ltd., a jewellery manufacturer and exporter noted its initial public offering (IPO) being oversubscribed 1.88 times, reports say. The IPO size is around INR 1.80 billion, in which the price band of the shares was INR 225 to INR 230 per equity share, reports say. The bids received were for 12.8 million shares, while the issue size was 6.8 million shares.

Of the entire IPO, fresh equity shares comprise around INR 1.10 billion and INR 700 million was the stake of Tara’s major shareholder Fabrikant H.K. Trading Ltd. which it is selling.