Joyalukkas India IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 17, 2022India has the second-largest market for Gold. Indians are deeply rooted in this precious metal for various reasons; some are cultural, and some for its beauty.
This large-scale demand requires an adequate supply of well-rafted and a wide range of jewelry designs.
One such dominant supplier having wide reach through its over 85 showrooms is Joyalukkas India Limited. The Company was founded by Alukkas Varghese Joy, who has over 33 years of experience in the jewelry industry.
Joyalukkas India IPO is the Company’s first public offering after shelving its IPO in 2018 due to adverse market circumstances.
Please find all the details in this Joyalukkas India IPO Review about the Company and its upcoming IPO.
| Face Value | Rs 10 |
| Price Band | Not Disclosed |
| Listing At | BSE, NSE |
| Min. Order Quantity | Not Disclosed |
| Listing Date | Not Disclosed |
| Offer for Sale | Not Disclosed |
| Fresh Issue | Rs.2300 Crore |
| IPO Size | Not Disclosed |
| Tick Size | 1 |
Joyalukkas India IPO Overview
Joyalukkas India IPO is entirely a Fresh issue of equity shares aggregating up to Rs. 2300 crore, whose share price will be determined through the Book Building Process.
In the issue, not more than 50% of the offer shall be reserved for the Qualified Institutional Buyers.
Further, not less than 15% of the offer will be reserved for the Non-Institutional Buyers, and about 35% of the offer will be allotted to the Retail Investors.
Joyalukkas India IPO Important Dates
| Events | Date |
| IPO Opening Date | Not Disclosed |
| IPO Closing Date | Not Disclosed |
| Basis of Allotment Finalization | Not Disclosed |
| Refunds Initiation | Not Disclosed |
| Credit of Shares to Demat Account | Not Disclosed |
| Share Listing Date | Not Disclosed |
The Rs. 2300 crore IPO of Joyalukkas India Limited will be floor soon. The Company filed the Draft Red Herring Prospectus (DRHP) in March 2022.
Joyalukkas India IPO Dates will be announced by the Company after receiving approval from SEBI.
The initial offering date is when the securities of the Company are first offered to the public for subscription. The investor will apply online for the subscription.
Joyalukkas India IPO Price, Size, Share Offerings
| Face Value | Rs.10 |
| Price Band | Not Disclosed |
| Offer for Sale | Not Disclosed |
| Fresh Issue | Rs.2300 Crore |
| IPO Size | Not Disclosed |
Joyalukkas India IPO Size comprises a fresh issue of equity shares. No promoters or shareholders are offloading their stakes in the Initial Public Offering (IPO).
Joyalukkas India IPO Price will be determined through the Book Building Process. The face value of the equity shares is Rs. 10 each. The proposed IPO issue will be listed on BSE and NSE.
Joyalukkas India IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
Grey Market is a market for financial securities. Grey Market trading occurs when a company offers new securities in the market, and the official listing of the securities has not begun.
The Grey Market has a strong bearing on the share price and influences its success to a significant extent. Joyalukkas India IPO GMP will be available after the IPO date is declared by the Company.
Joyalukkas India IPO Subscription Status
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – | ||||
| 2nd Day – | ||||
| 3rd Day – | ||||
| Shares Offered or Net Issue |
Joyalukkas India IPO Subscription will open after the filing of RHP and the determination of IPO opening and closing dates. Through the subscription, investors bid for the allotment of shares of the issuer company.
The entire process is undertaken as per the regulation led out by SEBI for the new issue. Investors can apply for the IPO through the ASBA process. Also, Only Retail investors can apply through the UPI payment system.
Joyalukkas India IPO Allotment Status
Allotment of shares is a prime step in the entire IPO where the equity shares are credited into the Demat accounts of successful bidders.
Once the shares are credited and names are added to the members register, the bidders become members of the Company and have voting rights in the Shareholders’ Meeting.
Joyalukkas India IPO Allotment has not been done yet. The details will be available soon.
Joyalukkas India IPO Live Performance
Check out the Joyalukkas India IPO Performance from here and always stay on top with the most updated information related to Joyalukkas India IPO Price.
Subscribe to Joyalukkas India IPO – Open Free Demat Account Now!
Latest Joyalukkas India IPO News
The Kerala-based jeweler Joyalukkas India has filed the preliminary papers to launch its IPO of Rs. 2300 crore. The company has a wide presence and is currently operating with its spread in over 65 cities.
Due to market conditions, this company had to shelve its IPO earlier in 2018. And now, it is proceeding to floor the IPO soon in the market.
The Indian Gold market ranks second worldwide for its fondness by the public of India.
In the IPO, 50% of the offer will be allocated to the qualified institutional buyers, whereas 15% and 35% of the offer will be reserved for the Non-Institutional buyers and Retail Individual bidders, respectively.
Joyalukkas India – Company Review
Joyalukkas India Limited was incorporated in 2002 with the motive to win the heart of millions of jewelry shoppers and admirers.
The Company was started as a private limited company named “Joy Alukkas Traders (India) Private Limited.” Later, in 2009, it changed its name to “Joyalukkas India Private Limited” to better define the scope of its business activities.
Joyalukkas also converted its company status a few times. In 2010, it was converted from a private limited company to a public limited company. After that, it was again converted to a private company in 2012.
In 2021, Joyalukkas India was converted to a public limited company, and subsequently, its name was changed to Joyalukkas India Limited.
Products or Services
Joyalukkas India has over 1,00,000 jewelry designs to offer to its customers. The company deals in Gold, silver, diamond, platinum, gemstones, and other precious metals.
Its product portfolio includes but is not limited to Gold and Silver coins & bars, earrings, pendants, rings, nose pins, bracelets, necklaces, mangal sutra, bangles, chains, and sindoor boxes, navratan, and a lot more.
You can also get fingerprinted jewelry designs with Joyalukkas. They have a wide variety of daily wear, office wear, and party wear jewelry designs.
Whether traditional, contemporary, or combination designs in jewelry, Joyalukkas has plenty of offerings at varied price points.
Promoters and Holding
The Promoters of Joyalukkas India is Alukkas Varghese Joy.
The management of the Company comprises:
- Alukkas Varghese Joy in the position of Managing Director
- John Paul Joy Alukkas in the position of Non-Executive Director
- Thomas Scaria Kalappurackal in the position of Non-Executive Director
- Alex Kalluvila Babu in the position of Non-Executive Independent Director
- Lava Krishnan in the position of Non-Executive Independent Director
- Pushpy B. Muricken in the position of Non-Executive Independent Director
- Baby George in the position of Chief Executive Officer
- Tom Jose, in the position of Chief Financial Officer
- Hentry George Kannai in the position of Chief Operating Officer
Is Joyalukkas India good for Investment?
Joyalukkas India has a legacy of almost two decades in the India Jewelry Retail Market. It is known for its precision and large product profile. Its innovative ideas and creative designs distinguish it from its competitors.
The Kerala-based Jewelry supplier operates through its 85 showrooms located in 68 cities in India. The Company is a customer retainer and had over 2 million customers till January 2022.
With the upcoming Joyalukkas India IPO, the brand aims to expand its showroom capacity and utilize a significant portion of the proceeds towards it.
Joyalukkas India Financial Statements
| Amount (in INR & Million) | |||||
| 30-Sept-21 | Sept-20 | 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Assets | 53,700.47 | 42,939.93 | 47,964.75 | 44,443.92 | 38,401.83 |
| Revenue | 40,369.89 | 21,058.36 | 80,970.27 | 80,320.50 | 81,007.38 |
| Expense | 36,769.38 | 17,737.66 | 74,601.03 | 76,842.00 | 77,737.40 |
| Profit After Tax | 2,689.45 | 2,486.11 | 4,717.54 | 407.05 | 1,161.38 |
The profit-making entity Joyalukkas India Limited competes with the big players in the jewelry industry.
The Company has shown consistency in its total income over the past few years. The total income of the Company in 2019, 2020, and 2021 were – 81,007.38 million, 80,320.50 million, and 80,970.27 million.
In the six months of 2021, ending 30 September 2021, the Company posted total revenue of 40,369.89 million, and for the same period, its profits stood at 3,600.51 million.
The profit of the Company has been growing over the years under the guidance of its leaders.
| Earnings per Equity Share (in Million) | |||||
| 30-Sept-21 | Sept-20 | 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Basic & Diluted | 3.49 | 3.23 | 6.12 | 0.53 | 1.51 |
The EPS of Joyalukkas India Limited for the financial year 2020-21 was Rs. 6.12, and for the six months of 2021 ended 30 September 2021 was Rs. 3.49.
Joyalukkas India IPO Review
Joyalukkas India IPO is only a fresh issue and does not comprise any Offer for the sale of shares. The objective of the issue is to repay or prepay the Company’s outstanding borrowings.
The Company is also aiming to open eight new showrooms from the proceeds of the issue. The new showrooms will expand the current serving capacities of the Company and will help it reach a higher exposure to a diverse population.
The IPO is a big step in the Company’s operations and will open new avenues for it in the future.
Joyalukkas India IPO Details
Here are few more details you need to know before investing in Joyalukkas India IPO –
Joyalukkas India IPO Issue Object
Joyalukkas India has proposed diverse objectives for making the IPO offer and some of the objectives are:
- Repayment or pre-payment, in full or part, of certain borrowings availed by our Company;
- Financing the opening of eight new showrooms (“New Showrooms”); and
- General corporate purposes.
Joyalukkas India IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Established homegrown brand with robust sales and marketing strategy;
- Leading jewellery company in India and well-positioned to capitalize on industry growth;
- Presence across India with a strong foothold in South India;
- Diversified product portfolio across categories and price points;
- Strong track record of growth, profitability and unit economics; and
- Experienced Promoter and management team with proven execution capabilities
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 6.12 | 27.42 | 22.34 |
| 31-Mar-20 | 0.53 | 3.26 | – |
| Mar-19 | 1.51 | 9.78 | – |
Joyalukkas India IPO Lead Managers
Here are the list of Lead managers –
- Edelweiss Financial Services Limited
- Haitong Securities India Private Limited
- Motilal Oswal Investment Advisors Limited
- SBI Capital Markets Limited
Joyalukkas India IPO Registrar to offer
Check out the details of registrar here –
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
L.B.S. Marg Vikhroli West Mumbai – 400 083
Maharashtra, India
Tel: +91 22 4918 6200
E-mail: joyalukkas.ipo@linkintime.co.in
Investor grievance e-mail: joyalukkas.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact person: Shanti Gopalkrishnan
SEBI registration no.: INR000004058
Joyalukkas India IPO – Other Details
- Statutory Auditor – MSKA & Associates
- Legal Counsel to the Company – Cyril Amarchand Mangaldas
- Bankers to the Company – HDFC Bank Limited, IDBI Bank Limited and ICICI Bank Limited
Joyalukkas India IPO Verdict by Stock Brokers
Angel One – As per sources, Joyalukkas India IPO, the company will likely file its draft papers with SEBI this week itself.
So, those waiting to invest in their shares must keep an eye on it. However, individuals should always conduct thorough research on the company’s history, vision, and financials before investing.
Joyalukkas India IPO – Conclusion
The Joyalukkas India IPO is completely a Fresh Issue, and none of the promoters or shareholders are vending their shares. The Company is expanding its capacity and enlarging its area with new showrooms.
Also, the jewelry sector in India is an attractive and growing segment for investment. Investors can consider investing in a retail jewelry company.
To Subscribe to Joyalukkas India IPO – Open Demat Account Now!
Joyalukkas India IPO Review FAQs
Check out the FAQs on Joyalukkas India IPO –
What is the Issue Size of Joyalukkas India IPO?
The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article.
You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Joyalukkas India IPO?
The price band for this particular IPO ranges between NA. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Joyalukkas India IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on NA, while the closing date is set at NA.
What is the Joyalukkas India IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO.
Basis of Allotment finalization is on NA, refund initiation is on NA, credit of shares is on NA, and share listing date is on NA.
What is the Joyalukkas India IPO Listing Date?
Shares of this company shall be listed in the exchanges NA. The date, when the listing would be done, is stagnant on NA.
Who is the Registrar of Joyalukkas India IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Joyalukkas India IPO?
Here are the promoters of this IPO – ALUKKAS VARGHESE JOY. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Joyalukkas India IPO?
They have obtained the GMP of this IPO and it is Rs.35. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is Joyalukkas IPO good for Investment?
They have further provided the financial status of the company in this article, from the past few years.
You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Joyalukkas India Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide.
PAT for the financial year 2021 in Million is 4,717.54, 2020 is 407.05, 2019 is 1,161.38. PAT from Sept 2021 is 2,689.45.
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