Kenvi Jewels IPO – Review, Allotment Status, Subscription, Price, Date & more

KENVI JEWELS LIMITED is primarily into the business of manufacturing and retailing of jewellery. In this article, lets have a detailed analysis of Kenvi Jewels IPO, company’s objective, Offering, company’s goodwill, financials, allotment status, Kenvi Jewels IPO grey market pricing, subscription status and management information.

 


Kenvi Jewels IPO Review & Ratings

Kenvi Jewels IPO Ratings & Review
CriteriaRatings
Industry Sentiments 6.5/10
Industry Ranking 6.5/10
Company Background6.5/10
Company Reputation6.4/10
Competitive Edge6.3/10
Financial Statements6.4/10
Popularity Index6.5/10
Promoters Reputation6.5/10
Retail Appetite 6.7/10
Top Brokers Review6.7/10
Overall Ratings 6.5/10
Star Ratings★★★☆☆

Summary of Kenvi Jewels IPO

Kenvi Jewels IPOCompany is primarily into the business of manufacturing and retailing of jewellery. Besides this, they are also into wholesaling and trading of gold jewellery. They aim to maintain the finishing and quality of the jewellery by ensuring control quality, timely delivery and competitive prices.

Company Planned to raise Rs.669.6 Lakhs (Face Value Rs. 10) capital through fresh issue to meet working capital requirement. Total 1860000 shares will be issues at premium of Rs. 26, and issue price of Rs. 36. Date of issue is yet to be disclosed by the company. The lead manager to the issue is First Overseas Capital Limited and the Registrar to this issue is Karvy Computershare Private Limited.

The Promoters of the company are:

  • Chirag Champaklal Valani
  • Mrs Hetalben Chiragkumar Valani

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    Kenvi Jewels IPO Date

    The opening and the closing date is not known yet.

    Kenvi Jewels IPO Subscription

     Subscription
    Day 1X
    Day 2 X
    Day 3X
    Day 4 X
    Day 5 X

    The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.

    Kenvi Jewels IPO Allotment Status

    The details of allotment of shares made by the company to the public will be updated herein once the company is through with the allotment process.

    Kenvi Jewels IPO Price Band

    The company has decided Issue price to be Rs. 36 & the face value of each share is Rs 10.

    Kenvi Jewels IPO Issue Size

    The Issue size is Rs.669.6 lakh, Issue price is yet to be decided.

    Kenvi Jewels IPO Equity Share Offerings

    186000 Equity Shares approx.



    Kenvi Jewels Limited – Company Overview

    KENVI JEWELS LIMITED incorporated as Suvarnkrupa Ornaments Private Limited on June 24, 2013 , Subsequently, the name of company was changed to “Kenvi Jewels Private Limited” on August 14, 2017. Company is primarily into the business of manufacturing and retailing of jewellery. Besides this, they are also into wholesaling and trading of gold jewellery. The designing of the jewellery is done in house which is manufactured at their manufacturing unit situated at Manek Chowk.

    Further, they also get the jewellery designed by third party designers as and when required. Company sell gold jewellery made with or without studded diamonds, precious and semi-precious stones. Their product portfolio includes Wedding Jewellery, Festive Jewellery, Rings, Chain, Earrings, Ear Chain, Nose-rings/Nose pins, Waist belts, Mangalsutra, Anklet, Zuda, Toe Ring, Pendant Set/ Pendant, Bracelet and Bangles.

    Competitive Strengths of Kenvi Jewels Limited:

    •  Established brand name
    •  Quality Products
    •  Strategic Location of Our Showroom
    •  Well established relationship with our supplier
    •  Strong in-house designing capabilities
    •  Wide Range of our Jewellery
    •  Experience of our Promoters
    •  Experienced management team & efficient work force
    •  Strong & long-term relationship with our clients

    Business strategies of Kenvi Jewels Limted:

    •  Focusing on increasing same showroom sales
    •  Innovation in designing
    •  Enhancing Operating Effectiveness & efficiency
    •  Continue to maintain strong relation with existing customers
    •  Marketing

    Kenvi Jewels Ltd – Financial Statements

    A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:

    Assets of the Company

     30-Nov-1731-Mar-1731-Mar-1631-Mar-1531-Mar-14
    Non-Current21.9420.423.234.895.27
    Current Assets877.76214.3188.02166.6496.88
    Total Assets899.71234.7211.25171.53102.14

    Assets (in INR & Lakhs)

    Revenue & PAT of the Company

       Revenue and Profit (in lakhs)

     30-Nov-1731-Mar-1731-Mar-1631-Mar-1531-Mar-14
    Revenue747.24718.19705.49290.4174.59
    PAT53.582.310.780.511.05

    Earnings per Equity Share (in Lakh)

     30-Nov-1731-Mar-1731-Mar-1631-Mar-15
    Basic 2.81.930.650.43
    Diluted 2.81.930.650.43

    From the above statements, one could find that the Kenvi Jewels has performed well in the past few years.


    Kenvi Jewels IPO – Promoters

    The Promoter of this company are:

    • Mr. Chirag Champaklal Valani – Managing Director
    • Mrs. Hetalben Chiragkumar Valani – Whole-Time Director
    • Mr. Manoharbhai Bharatbhai Chunara – Independent Non-Executive Director
    • Mr. Sanni Shaileshbhai Shah – Independent Non-Executive Director
    • Mr. Amitkumar Bharatbhai Prajapati – Independent Non-Executive Director

    The interest of Promoters in the Promotion of the company

    All of the Directors may be deemed to be interested to the extent of fees payable to them (if any) for attending meetings of the Board or a committee thereof as well as to the extent of remuneration payable to them for their services as Managing Director and Whole-Time Director of the Company and reimbursement of expenses as well as to the extent of commission and other remuneration, if any, payable to them under the Articles of Association. Some of the Directors may be deemed to be interested to the extent of consideration received/ paid or any loans or advances provided to anybody corporate including companies and firms, and trusts, in which they are interested as directors, members, partners or trustees.

    The interest of Promoter in the Property of the company

    The Directors have no interest in any property acquired or proposed to be acquired by the Company in the preceding two years from the date of this Draft Prospectus nor do they have any interest in any transaction regarding the acquisition of land, construction of buildings and supply of machinery, etc. with respect to the Company.

    The interest of Promoter in the Intellectual Rights of the company

    Promoter has not shown any interest in acquiring the intellectual rights of the company.


    Kenvi Jewels IPO Offer Details or Issue Details

     Particulars No. Of Equity Shares
     Equity Shares Offered18,60,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 36/- per Equity Share aggregating Rs. 6,69,60,000/-.
     Of which:
     Reserved for Market Makers 93,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 36/- per Equity Share aggregating Rs. 33,48,000/-.
     Net Issue to the Public 17,67,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 36/- per Equity Share aggregating Rs. 6,36,12,000/-.
     Of which:
     Retail Investors Portion 8,83,500 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 36/- per Equity Share aggregating Rs. 3,18,06,000/-.
     Non-Retail Investors Portion8,83,500 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 36/- per Equity Share aggregating Rs. 3,18,06,000/-.
     Equity Shares outstanding prior to the Issue28,42,500 Equity Shares

     

     Equity Shares outstanding after the Issue47,02,500 Equity Shares

     

    NOTE: The Company is considering to raise Rs. 669.6 Lakh


    Kenvi Jewels IPO Issue Object

    These are the IPO Issue Objects of the company

    • Repayment of unsecured loans
    • To generate fund for the financial working capital of the company
    • To make up for the general corporate expenses of the company
    • To manage the expenses of the issue

    These are the main reasons why the IPO is being floated by the company.


    List of Upcoming IPOs in 2018

    Aakash Exploration Services IPOIRCTC IPO Rail Vikas Nigam IPOKIMS Hospitals IPO
    HDFC AMC IPOUTI Mutual Fund IPO Mazagon Dock Shipbuilders IPOPolicy Bazaar IPO

    Kenvi Jewels IPO – Basis of the 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. The face value of each share is Rs 10 and the issue price of the IPO is Rs. 36.

    Qualitative factors are:

    • Assurance of Quality
    • A long-term relationship with customers
    • Experienced & Qualified Team
    • Strong in-house designing capabilities
    • Expected High Operating Efficiency
    • Cordial relations with the customers and supplier

    The relevant quantitative factors are:

    • Basic and Diluted Earnings per Share (EPS)
    • Price to Earnings (P/E) ratio
    ParticularPE at Issue Price
    Based on the Basic and Diluted EPS of Rs.1.93, as per restated financial statements for the year ended March 31, 201718.65
    Based on the Weighted Average Basic and Diluted EPS of Rs 1.25, as per restated financial statements28.80
    INDUSTRY PE
    Highest69.70
    Lowest10.60
    Average40.15

     

    • Return on Net Worth
    PeriodReturn on net worthWeight
    Year ended March 31, 20178.383
    Year ended March 31, 20163.082
    Year ended March 31, 20152.081
    Weighted Average5.56
    As On 30 Nov 20179.08

     

    • Minimum Return on Net Worth (RoNW) after Issue needed to maintain the Pre-Issue Basic &diluted EPS (based on Restated Financials) at the Issue Price of Rs 36 is 3.63%
    • Net Asset Value per Equity Share
    ParticularsNAV
    As on March 31, 201722.97
    As on 30-Nov-2017 (Not Annualized)30.87
    NAV after the Issue26.68
    Issue Price36
    • Comparison of Accounting Ratios with Peer Group Companies
    Sr. No. ParticularsFace Value  (in Rs.)EPS (In Rs.)P/E RatioRONW (%) NAV (In Rs.)
    1Titan Company Limited111.769.76.8548.6
    2Swarnsarita Gems Limited101.910.61.840.4
    3P.C. Jewellers Limited1012.732.34.13102.7
    4Kenvi Jewels Limited102.812.869.0830.87

    List of Latest IPOs of 2018

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    Varroc Engineering IPO National Insurance IPOGarden Reach Shipbuilders IPOReNew Power IPO

    Kenvi Jewels IPO Lead Managers

    Lead Managers
    First Overseas Capital Limited

    Kenvi Jewels IPO Registrar to offer

    Registrar to the Offer
    Karvy Computershare Private Limited

    Kenvi Jewels IPO Review by Top 10 Stock Brokers

    Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromters Reputation
    Angel Broking6.4/106.6/106.0/106.4/106.0/10
    Sharekhan6.2/106.1/106.6/106.1/106.2/10
    Kotak Securities6.3/106.2/106.3/106.4/106.3/10
    ICICI Direct6.3/106.3/106.7/106.1/106.1/10
    IIFL6.2/106.2/106.8/106.0/106.1/10
    Edelweiss6.2/106.3/106.3/106.3/106.2/10
    Zerodha6.3/106.4/106.3/106.3/106.0/10
    5Paisa6.1/106.4/106.3/106.1/106.1/10
    Karvy6.3/106.3/106.2/106.1/106.0/10
    Motilal Oswal6.3/106.4/106.3/106.5/106.4/10

    The ratings would be updated once the financials and the other details of the IPO are released.


    Kenvi Jewels IPO Grey Market Premium

    The Kenvi Jewels IPO Grey Market Premium is yet to be announced. It will be updated as soon as the premium rates are announced.


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      News 1 – IPO ISSUES OPEN SOON


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