Ashapuri Gold Ornament Ltd

About the Company:

Ashapuri Gold Ornament Ltd is engaged in the business of wholesale trading of Jewellery

Company is well known and trusted wholesaler of gold jewellery supplier, having showroom of 2945 sq. feet on prime location of C.G. Road, Ahmedabad.

Company deals only in jewellery certified by Hallmark. They also deal in antique Jewellery and are also into Trading of Gold Jewellery.

The design of jeweleries is done either in house or by third parties on company’s behalf and get the Jewelleries manufactured on job work basis at Ahmedabad and Rajkot.


Prime Location of Company’s Showroom:

Most of the show rooms of Gold jewellery are located on C.G. Road and its vicinity. The 2945 sq feet showroom is situated at 109 to 112A, 1st Floor Supermall, Nr. Lal
Bunglow, C.G. Road, Ahmedabad – 380009.

Most of the branded Jewellery show rooms viz. Tanishq, Joyalukkas, Malabar Gold, etc.are located in C.G. Road.


Development of Readymade Garment Business:

During the year 2018-19, company had entered in to partnership with Mrs. Kiran Soni and Mrs. Alka Jitendra Soni, partner of M/s. Blue-Onxy Lifestyle, carrying on business of Branded Readymade Garments having exclusive showrooms at Ahmedabad, Surendranagar, Mehsana and Godhara.

Ashapuri Gold Ornament Ltd is a major partner in this venture. The promoters have a plan to open multiple chains of showrooms of Branded Readymade Garments over a period of time.


Entering in to Long Term Supply agreement with the Branded Company:

At present Company is a wholesale Jewellery supplier in and around Ahmedabad.

Ashapuri Gold Ornament Ltd is in the process of entering in to long term agreement for supply of gold ornament with 3 most reputed jewellery retailers which are multinational well reputed companies and having very good network as well as turnover.


Management Team:

  1. Mr. Saremal Soni (Designation: Chairman Cum Managing Director)
  2. Mr. Dinesh Soni (Designation: Managing Director)
  3. Mr. Jitendra Soni (Designation: Joint Managing Director)


Objectives of the Issue:

  • Establishment of jewellery manufacturing unit.
  • Investment in partnership firm.
  • Meeting working capital requirements.
  • General corporate purposes.


Financials of the Company:

(in Crores) FY 16 FY 17 FY 18 30th Nov 18
Revenue 55.62 37.28 46.93 49.50
Net Profit 0.064 0.039 0.07 0.31


Valuation of Peer Group Companies:

Company Name Face Value EPS PE Ratio RoNW NAV
D.P Abhushan Limited 10 4.22 10.19 19.83% 18.46
Moksh Ornaments Limited 10 5.28 3.73 15.17% 24.06


IPO Details:

Details Info
Issue Opens on 13th March 2019
Issue Closes on:. 18th March 2019
Issue Price Rs.51
Face Value Rs.10
Minimum Lot 2000
Minimum Investment Rs.1,02,000
Issue Constitutes 27%
Issue Size Rs.29.32 cr
Market Cap Rs.108.59 cr
Listing at BSE SME
Equity Shares Offered (Fresh) 57,50,000
Equity Shares Prior to the Issue 1,55,43,000
Equity Shares after the issue 2,12,93,000



Check IPO Allotment Status:

Bigshare Website (Click on the below Link)


Company Contact Info:
Ashapuri Gold Ornament Limited
109 to 112A, 1st Floor Supermall,
Nr. Lal Bunglow, C.G. Road,
Ahmedabad – 380009, Gujarat, India
Tel No: 079-26462170/71


IPO Registrar Info:
1st Floor, Bharat Tin Works Building,
Opp. Vasant Oasis, Makwana Road,
Marol, Andheri (East), Mumbai-400059
Tel No.: 022 62638200
Email Id:


Lead Manager to the Issue:
305, Enterprise Centre, Nehru Road,
Vile Parle (East), Mumbai- 400099, Maharashtra, India
Tel No.: +91 81049 85249
Fax No.: 022 2618 6966