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:
- Mr. Rohit D. Shah (Designation: Managing Director)
- Mr. Saunil R. Shah (Designation: Whole-Time Director)
- 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 (%) |
|---|---|---|
| Promoters | ||
| 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:
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)http://kosmic.karvy.com:81/ipotrack/ |
| 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 : compliance.pjl@gmail.com Website : www.palmjewels.com |
| IPO Registrar Info: |
|---|
| KARVY COMPUTERSHARE PRIVATE LIMITED Karvy Selenium Tower B, Plot 31-32, Gachibowli, Financial District, Nanakramguda, Hyderabad 500 032 India Tel. No.: 1-800-3454001/ +91 40 6716 2222 Website: www.karisma.karvy.com |
| Lead Manager to the Issue: |
|---|
| FIRST OVERSEAS CAPITAL LIMITED 1-2 Bhupen Chambers, Ground Floor, Dalal Street, Mumbai-400 001 Tel. No.: +91 224050 9999 Fax No.: +91 22 4050 9900 Investor Email: investorcomplaints@focl.in Website: www.focl.in |
