Palm Jewels Ltd

Palm Jewels Ltd

About the Company:

Palm Jewels Ltd is engaged in the wholesale business of gold jewellery. Company’s registered office and business of operation is based in Ahmedabad.

Company sells gold based chains, bracelets and necklaces. They outsource the manufacturing of their jewellery through job workers based in Ahmedabad and Mumbai.

Company procures gold & silver majorly through the bullion market and partially from the local markets in Ahmedabad. Gold bars and other necessary material are provided to the job workers who are based either in Ahmedabad and Mumbai.

The finished jewellery is sold by their marketing and sales team directly to other jewellery stores.Company’s jewellery is widely sold throughout Gujarat only through B2B marketing and/ or Direct/Outbound marketing strategy.

Some of the major customers include M/s. Zaverat, Mehta Ornaments Private Limited, Shah Chinubhai Ramniklal Co. and Shubhlaxmi Jewellers, etc.


Management Team:

  1. Mr. Rohit D. Shah (Designation: Managing Director)
  2. Mr. Saunil R. Shah (Designation: Whole-Time Director)
  3. Mrs. Chetna R. Shah (Designation: Non-Executive Director)


Promoters Average Acquisition Cost:

Name of the Promoter No. of Shares held Average Acquisition Cost (in Rs.)
Mr. Rohit D. Shah 34,90,767 11.31
Mrs. Chetna R. Shah 7,10,000 5.32


Promoters Stake Pre & Post Issue:

Shareholder Name Pre Issue Stake (%) Post Issue Stake (%)
Mr. Rohit D. Shah 79.06 47.28
Mrs. Chetna R. Shah 16.08 9.62
Promoter Group Entities              3.34               2.00
Total 98.49% 58.90%


Objectives of the Issue:

To meet working capital requirement.
To meet the expenses of the Issue.


Fund Utilization:

Particulars Amount (Rs. in Crores)
Working Capital requirements 8.65
Issue Expenses 0.25
Net Proceeds 8.9 cr


Valuation of Peer Group Companies:

peer group

Financials of the Company:

(in Crores) FY 16 FY 17 28th Feb 18
Revenue 1.57 5.52 19.75
Net Profit 0.0053 0.015 0.44


IPO Details:

Details Info
Issue Opens on 25th May 2018
Issue Closes on:. 1st June 2018
Issue Price Rs.30
Face Value Rs.10
Minimum Lot 4000
Minimum Investment Rs.1,20,000
Issue Constitutes 40.20%
Issue Size Rs.8.9 cr
Market Cap Rs.22.14 cr
Listing at BSE SME
Equity Shares Offered (Fresh) 29,68,000
Equity Shares Prior to the Issue 44,15,058
Equity Shares after the Issue 73,83,058


Subscription Details: (Will be Updated)

(Subscription-Category-Wise (no. of times) Till time : 00:00) Shares Offered Day-1 Day-2 Day-3 Day-4
HNI 14,08,000
Retail 14,08,000
Others  1,52,000
Employee ———
TOTAL 29,68,000



Check IPO Allotment Status:

Karvy Website (Click on the below Link)


Company Contact Info:
Palm Jewels Ltd
G.F-37, Super Mall,
Nr. Diamond C. O. Hou. Soc Ltd,
Nr. Lal Bunglow, C. G. Road,
Ahmedabad – 380001, Gujarat, India
Tel No. : +91 79 40052056
Email Id :
Website :


IPO Registrar Info:
Karvy Selenium Tower B, Plot 31-32, Gachibowli,
Financial District, Nanakramguda, Hyderabad 500 032 India
Tel. No.: 1-800-3454001/ +91 40 6716 2222


Lead Manager to the Issue:
1-2 Bhupen Chambers, Ground Floor, Dalal Street,
Mumbai-400 001
Tel. No.: +91 224050 9999
Fax No.: +91 22 4050 9900
Investor Email: