Moksh Ornaments Ltd

moksh ornaments

About the Company:

Moksh Ornaments is in the business of manufacture and wholesale of jewellery and head quartered at Mumbai, Maharashtra.The jewelleries are manufactured on job work basis at Kolkata and Mumbai.

They primarily sell gold jewellery and their product profile includes bangles, chain, and mangalsutra.

Company’s focus is on developing new designs that meet customer’s requirements as well as cater to their tastes and specifications.They get the products designed by third party designers.

Company’s products are manufactured on job work basis from third parties located at Kolkata and Mumbai.

They get the jewelleries designed from third parties designers. The sample of such designed jewelleries are shown to the customers and on approval of the designs,they get the approved designed products manufactured in desired quantities from the third parties.

They offer regular designs and guarantee their esteemed customers for the time bound delivery of the products.their customers get the jewellery hallmarked from BIS recognized Assaying and Hallmarking Centre.

Some of the major customers include Nakshatra Jewellery, P.N. Gadgil & Sons, Ranka Jewellers, P.N. Gadgil Jewellers Private Limited, etc.

Company’s Major Customers:

Management Team:

  1. Mr.Amrit J. Shah (Designation: Managing Director)
  2. Mr.Jawanmal M. Shah (Designation: Whole-Time Director)
  3. Ms. Sangeeta A. Shah (Designation: Non-Executive Director)


Promoters Average Acquisition Cost:

Name of the Promoter No. of Shares held Average Acquisition Cost (in Rs.)
Amrit J. Shah 31,00,001 9.67
Jawanmal M. Shah 31,00,005 9.67


Promoters Stake Pre & Post Issue:

Shareholder Name Pre Issue Stake (%) Post Issue Stake
Amrit J. Shah 40 28.89
Jawanmal M. Shah 40 28.89
Promoter Group Entities               20           14.44
Total 100% 72.21%


Objectives of the Issue:

  • Funding of working capital requirements of the Company
  • Repayment of certain Unsecured Loan availed by our Company
  • Issue Expenses


Fund Utilization:

Particulars Amount (Rs. in Crores)
Working capital requirements of the Company 7.42
Repayment of certain Unsecured Loan availed by our Company 3.0
Issue Expenses 0.61
Net Proceeds 11.03 cr


Financials of the Company:

(in Crores) FY 13 FY 14 FY 15 FY 16 FY 17 31st Oct 17
Revenue  77.33 80.94 110.90  143.01 239.93  169.43
Net Profit  0.032  0.13 0.17 0.15  2.87  1.89


Valuation of Peer Group Companies:

Company Name Face Value EPS PE Ratio RoNW NAV
Moksh Ornaments Limited 10 5.56 6.65 26.47 21.02
Thangamayil Jewellery Ltd. 10 10.17 65.63 9.21 110.42
Tribhovandas Bhimji Zaveri Ltd. 10 2.78 43.65 4.02 69.08
PC Jeweller Ltd 10 24.05 18.03 12.79 187.94


IPO Details:

Details Info
Issue Opens on 21st December 2017
Issue Closes on:. 26th December 2017
Issue Price Rs.37
Face Value Rs.10
Minimum Lot 3000
Minimum Investment Rs.1,11,000
Issue Constitutes 27.79%
Issue Size Rs.11.03 cr
Market Cap Rs.39.70 cr
Listing at NSE SME
Total Equity Shares Offered (Fresh) 29,82,000
Equity Shares Prior 77,50,011
Equity Shares after the issue 1,07,32,011


IPO Valuation Parameters:

Earnings Per Share (EPS) Price To Earnings ratio (PE) Return on Net Worth (RoNW) Net Asset Value (NAV)
5.56 6.65 26.47% 21.02


Markets Guruji Opinion:

IPO View Apply For: Expected listing Gain:
Susbcribe Long Term 15%


Check IPO Allotment Status:

Bigshare Website (Click on the below Link)


Company Contact Info:
Moksh Ornaments Ltd
701, 18/22, Champagali, 7th Floor,
Zaveri Bazaar, Mumbai-400002
Tel: +91-22-61834395;
Email: ;


IPO Registrar Info:
1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road,
Marol, Andheri East,
Tel : +91-22-62638200
Fax : +91-22-62638299


Lead Manager to the Issue:
18 Deshapriya Park Road, Kolkata – 700 026,
West Bengal, India
Tel: +91 – 33 – 3001 5555
Fax: +91 – 33 – 3001 5531
Grievance Email: