About Company’s Business:
The company stands out as one of India’s premier organized manufacturers of gold jewelry, with a specialization in Antique Bridal Gold Jewelry. They are involved in the design and production of a diverse array of Antique Bridal Gold Jewelry, incorporating jadau, Meena, and Kundan work, available for both wholesale and retail transactions. Additionally, the company undertakes the processing and supply of Antique Bridal Gold Jewelry on a job work basis to national retailers. With an approximately 1% share of the total organized wholesale gold jewelry market in India, the company operates a retail showroom under the brand name “Harit Zaveri,” establishing itself as a key player in Ahmedabad. The showroom offers a range of jewelry suitable for bridal, occasional, and daily wear, catering to various price ranges.
About the Industry:
The company is active in the gems and jewelry sector, engaging in wholesale, retail, and job work operations. In the calendar year 2022, the organized wholesale market in India recorded a market size of ₹216 billion (~84 tonnes), while the organized retail jewelry market ranged between ₹1,500 to ₹1,600 billion. The industry encompasses various types of jewelry, including gold, silver, studded, and other jewelry items such as bangles, chains, necklaces, rings, and earrings. Gold jewelry is further categorized into bridal wear, daily wear, and fashion wear. Although traditionally fragmented and dominated by unorganized entities, the industry is undergoing a shift towards organization. The sector’s long-term growth outlook is bolstered by factors like an expanding working population, increased disposable income, easier credit accessibility, and an improving standard of living.
Key Financial Information (â‚ą in million):
| S No. | Particulars | As at and for the Period Ended Sep 30, 2023 | March 31, 2023 | March 31, 2022 | March 31, 2021 |
|---|---|---|---|---|---|
| 1. | Issued and Paid-up Equity Share Capital | 3,000.00 | 3,000.00 | 400.00 | 400.00 |
| 2. | Net Worth | 10,456.89 | 9,246.77 | 7,003.25 | 5,555.27 |
| 3. | Revenue from Operations | 12,545.68 | 28,792.78 | 25,210.67 | 10,699.13 |
| 4. | Total Income | 12,551.91 | 28,962.62 | 25,252.66 | 10,770.65 |
| 5. | Net Profit/(Loss) after Tax | 1,209.39 | 2,233.31 | 1,440.57 | 974.82 |
| 6. | Earnings per Share | Basic Earnings per Share (in â‚ą) | 4.03* | 7.44 | 4.80 |
| Diluted Earnings per Share (in â‚ą) | 4.03* | 7.44 | 4.80 | ||
| 7. | Return on Net Worth for Equity Shareholders (%) | 11.57** | 24.15 | 20.57 | 17.55 |
| 8. | Net Asset Value per Equity Share | 34.86 | 30.82 | 23.34 | 17.76 |
| 9. | Total Borrowings | 10,184.23 | 9,579.48 | 5,971.20 | 5,489.83 |
Objective of the Issue:
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Funding working capital requirements of the Company;
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General corporate purposes.
For more detailed information, you can refer to the IPO Prospectus (RHP) filed by the company.
| Important information regarding the IPO | |
|---|---|
| Open Date | Tuesday, December 19, 2023 |
| Close Date | Thursday, December 21, 2023 |
| Issue Size | â‚ą100.00 Crores |
| Price | â‚ą95 to â‚ą100 per share |
| Lot Size | 150 Shares |
| Basis of Allotment | Friday, December 22, 2023 |
| Initiation of Refunds | Tuesday, December 26, 2023 |
| Credit of Shares to Demat | Tuesday, December 26, 2023 |
| Listing Date | Wednesday, December 27, 2023 |
How to apply for this IPO?
You can locate the redirection link to the IPO on the home screen of the Dhan App. Alternatively, you can access it by navigating to the “Money” Section at the bottom right and swiping right to reach the “IPO” Tab.
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