• Total Issue Size: The Total issue size is 35,37,600 fresh equity shares totaling up to Rs. 3,183.84 lakh each with a face value of Rs.10/-.

• Price Range: The issue price has been set at Rs.90 per share .
• Issue Type: Its is a 100% Book-built issue 
• Lot Size: The IPO is set to offer a lot size of 1600 equity shares.
• Subscription date: The issue period begins from March 17th 2025 and ends on March 19th 2025.
• Listing Date: The IPO is going public on 24th March 2025.
• Stock Exchange: The IPO will be listed on NSE (SME).

The main objective of the IPO is to raise Rs. 3,183.84 lakh with the sale of 35,37,600 fresh equity shares of face value of Rs. 10/- . The net proceeds will be utilized for the repayment of certain borrowings availed by the company, meet working capital requirements and for general corporate purposes.

The table below (in lakhs) stipulates the financial performance of the company over the last 3 fiscal years.

The gems and jewel sector is considered as one of the most important sectors which contributes significantly to the Indian economy. India is known to be the hub for jewelry manufacturing with over 450 organized manufacturers, importers and exporters in the market.  

The liberal policy offered by the government like relaxation on imports, low-cost gold metal loans etc has also strongly attributed towards the growth of this industry.  

The FDI inflow in gold and diamond ornaments from 2000-2023 stood at US$1,270.63 and exports in plain gold jewelry stood at US$ 6792.24 million in 2023-24 as compared to US$ 4199.96 million in 2022-23.

The consumer demand for these products is constantly high but, the recent decline in the exports by 14.94% due to geopolitical tensions has caused a minor setback in the market nevertheless this industry is projected to grow to US$100 billion by 2027 in India.

• The company deals in selling and designing of various kinds of traditional, Indo-western and modern jewelries with diverse design portfolio curated by its in-house team of designers and third party providers. It primarily deals in 22 Karat gold jewellery and caters its products according to the preference of the customers with utmost quality and purity.

• The company is in this line of business since 1984 and has built a strong foundation with experience management team, promoters and well-trained personals.
• The company has shown significant growth over the last three years increasing its profit after tax from Rs. 28.91 lakh in 31.03.2022 to Rs. 148.17 lakh in 31.03.2024 (with Rs. 249.83 lakh as of 30.09.2024)

• The company derives substantial portion of its revenue from a few clients, any reduction in purchases by these customers may adversely affect the business operation and financial conditions.

• The company procures its main raw material i.e. 24 karat gold from third party suppliers and does not have any long-term agreements for supplies with these suppliers, any disruption in the chain of supply may adversely affect the business operation and financial conditions.
• The company’s income is subject to seasonal fluctuations which may disproportionately affect the business operations.
• The Jewelry business faces big competition from many well organized jewelry businesses in the market. The company has to be consistent and maintain its quality and purity with its products in order to become a prominent player in this line of industry.
• The company has availed certain borrowings and failure to repay these borrowings may adversely affect the business operation and financial conditions.
• There are certain outstanding legal proceedings which the Company, Subsidiaries, Promoters, and Directors are involved in, this could also have an adverse effect on the business, financial condition and on operations.

The company is in the gems and jewel sector that contributes significantly to the Indian economy and is projected to reach US$100 billion by 2027 in India.

The company has built strong foundation since its inception in 1984 and has shown healthy returns for the last three fiscal years. The company is also subject to many market risks and constant competition from organized businesses in this sector, potential investors should analyze the risks given in the RHP draft before investing.

The company with the help of this IPO seeks to utilize the net proceeds to repay its borrowings, meet working capital and for general corporate purposes.

It has shown strong fundamentals given the line of industry it operates in and positive financial returns for the last three years, however is also prone to certain markets risks which the investors should analyze before investing.