Laxmi Goldorna IPO – Review, Allotment Status, Subscription, Price, Date & more

The Company  is engaged in manufacturing and trading business of branded gold Jewellery and ornaments. Let’s have a detailed review of the company and analytics of the Laxmi Goldorna IPO release date, IPO offer price, subscription, Laxmi Goldorna IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Laxmi Goldorna IPO Review & Ratings

Laxmi Goldorna IPO Ratings & Review
CriteriaRatings
Industry Sentiments 6.3/10
Industry Ranking 6.3/10
Company Background6.1/10
Company Reputation6.4/10
Competitive Edge6.4/10
Financial Statements6.5/10
Popularity Index6.2/10
Promoters Reputation6.3/10
Retail Appetite 6.2/10
Top Brokers Review6.3/10
Overall Ratings 6.3/10
Star Ratings★★★☆☆

Summary of Laxmi Goldorna IPO

Laxmi Goldorna IPOLaxmi Goldorna House Limited is a collection of manufactured product includes gold jewellery with or without studded precious and semi-precious stones. They offer their customers a broad variety of gold jewellery and diamond jewellery in order to cater to regional tastes. The designing and manufacturing of their products is done by third parties on job work basis.

The Issue comprises of a Public Issue of 55,20,000 Equity shares of face value of Rs.10.00 each fully paid (the “Equity Shares”) for cash at a price of Rs.45 (including a premium of Rs.35 per Equity Share) aggregating to Rs.2484.00 lakhs. The restated net profit during the stub period ended on 31st December, 2017 was Rs. 98.14 Lakhs representing 1.65% of the total revenue of the Company.

From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements (inLakhs):

For the period ended December 31, 2017, FY 2016-17 and FY 2015-16, its revenue from operations was Rs.5,147.52, Rs.4,655.74 and Rs.5,053.09 Lakhs, respectively. For the period ended December 31, 2017, FY 2016-17 and FY 2015-16 their net profit was 98.14, 58.16 and  5.85 lakhs respectively.

The Promoter of this company is Mr. Jayesh Chinubhai Shah and Mrs. Rupalben Jayeshkumar Shah. The lead manager to the issue is SWASTIKA INVESTMENT PRIVATE LIMITED and the Registrar to this issue is KARVY COMPUTERSHARE PRIVATE LIMITED.


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Laxmi  Goldorna IPO Date

The opening and the closing date of IPO of Laxmi Goldorna is not known yet.


Laxmi Goldorna 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.


Laxmi Goldorna 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.


Laxmi Goldorna IPO Price Band

The face value of each share is Rs 10, and the cash price is Rs 45, so the Premium price is Rs 35.


Laxmi Goldorna IPO Equity Share Offering

55,20,000 Equity Shares of Rs 10/- each and  Issue Price is Rs.45 so it will be aggregated to Rs 2484 lakhs.


Laxmi Goldorna Limited IPO – Company Overview

Company is engaged in manufacturing and trading business of branded gold Jewellery and ornaments. Their collection of manufactured product includes gold jewellery with or without studded precious and semi-precious stones. their offer their customers a broad variety of gold jewellery and diamond jewellery in order to cater to regional tastes. The designing and manufacturing of their products is done by third parties on job work basis. Their products have presence across different price points to cater to all customers across high-end, mid-market and value market segments. Apart from their own Jewellery their are also dealing in trading of branded jewellery.

Presently the promoters of the Company are Mr. Jayesh Kumar Shah and Mrs. Rupalben Jayeshkumar Shah who have experience of about 18 years and 8 years respectively in the field of gold and jewellery business. The vast experience of the Promoters has been instrumental in determining the vision and growth strategies for their Company.

Competitive Strengths of Laxmi Goldorna Limited:

  • Experienced Promoters.
  • Wide Varieties of their products.
  • Customer Satisfaction.
  • Quality of their products.
  • Domain Expertise in identifying fashion trends and jewellery designs.

Business strategies of Laxmi Goldorna Limited:

  • Innovation in Designing and Maintenance of quality products.
  • Improving operational efficiencies.
  • Leveraging their Market skills and Relationships.
  • Expansion of Business.
  • Increase Sales through innovative customer – oriented Marketing initiatives.

Laxmi Goldorna Limited – Financial Statements

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

Financial Summary:

Amount (in INR & Lakhs)
31-Mar-1731-Mar-1631-Mar-1531-Mar-1431-Mar-13
Total Assets1,028.53786.121,173.39989.22908.28
Total Revenue5,242.524,655.745053.094,951.714,424.65
Total Expense5,138.544,646.745,045.604,937.184,409.10
Profit After Tax58.055.855.179.1910.74

 

Earnings per Equity Share (in Lakhs)

31-Dec-1731-Mar-1731-Mar-16
Basic and Diluted8.740.880.77

From the above statements, one could find that the Laxmi Goldorna Limited may perform well.


Laxmi Goldorna IPO – Promoters

  • Mr. Jayesh Chinubhai Shah
  • Mrs. Rupalben Jayeshkumar Shah.

List of Related Parties (Key Managerial Personnel)

Mrs. Kshamaben Pravinkumar Shah (CFO).

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. The Promoters are interested to the extent of their shareholding in the Company, and any dividend and distributions which may be made by the Company in future.

Property Interest

Promoters do not have any other interest in any property acquired by their Company in a period of two years before filing of this Draft Prospectus or proposed to be acquired by Company till date of filing the Prospectus with ROC.

Interest in Intellectual Rights of the Company

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


Laxmi Goldorna IPO Offer Details or Issue Details

 Particulars No. Of Equity Shares
 Equity Shares Offered 52,20,000 Equity Shares of Rs 10/- each at an Issue Price of Rs.45 aggregating to Rs.2484 lakhs.
 Of which:
 Reserved for Market Makers 2,82,000 Equity Shares of Rs 10/- each for cash at a price of Rs. 45.00/- per  aggregating Rs. 126.90 Lakhs
 Net Issue to the Public 52,38,000 Equity Shares of Rs. 10/- each for cash at a price of Rs. 45.00/- per share aggregating  Rs.2357.10 Lakhs
 Of which:
 Retail Investors Portion 26,19,000 Equity Shares of Rs. 10/- each for cash at a price of Rs.45.00/- per share (including a premium of Rs. 35.00 per Equity Share) will be available for allocation for allotment to Retail Individual Investors of up to Rs. 2.00 lakhs.
 Non-Retail Investors Portion26,19,000 Equity Shares of Rs. 10/- each for cash at a price of Rs. 45.00/- per share (including a premium of Rs. 35.00 per Equity Share) will be available for allocation for allotment to Other Investors of above Rs. 2.00 Lacs
 Equity Shares outstanding prior to the Issue1,53,51,900 Equity Shares of Rs 10/- each
 Equity Shares outstanding after the Issue2,08,71,900 Equity Shares of Rs 10/- each

Laxmi Goldorna IPO Issue Object

These are the IPO Issue Objects of the company

  • Funding of working capital requirements of the Company
  • General Corporate Purpose
  • Issue Expenses

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Laxmi Goldorna 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.

Qualitative factors are:

  • Experienced Promoters
  •  Wide Varieties of their products
  • Customer Satisfaction
  • Quality of background products
  • Domain Expertise in identifying fashion trends and jewellery designs

The relevant quantitative factors are:

Basic & Diluted EPSRONW (%)NAV (Rs.)
31-Mar-150.161.3756.61
31-Mar-160.181.53 57.49
31-Mar-171.7513.19  66.22
  • Industry P/E Ratio:
ParticularsP/E ratio
Average54.50
Highest79.60
Lowest1.50

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Laxmi Goldorna IPO Lead Managers

Lead Managers
SWASTIKA INVESTMART LIMITED
305, Madhuban Building, Cochin Street,
S.B.S. Road, Fort, Mumbai, Maharashtra – 400 001.
Tel No.:+91–22–2265 5565
Fax No.:+91–22–664 4300
Email: merchantbanking@swastika.co.in
Investor Grievance Email: investorgreivance@swastika.co.in
Website: www.swastika.co.in
Contact Person: Mr. Mohit R. Goyal
SEBI Regn. No.: INM000012102

Laxmi Goldorna IPO Registrar to offer

Registrar to the Offer
KARVY COMPUTERSHARE PRIVATE LIMITED
Karvy Selenium Tower B, Plot 31-32, Gachibowli,
Financial District, Nanakramguda, Hyderabad-500 032, India
Tel No.:+91-040-6716 2222
Fax No.: +91-040-2343 1551
Email: einward.ris@karvy.com
Investor grievance Email – laxmigoldorna.ipo@karvy.com
Website:www.karisma.karvy.com
Contact Person: Mr. M Murali Krishna
SEBI Regn. No.: INR000000221

Other Details:

  • Statutory Auditor – M/S. PARTH SHAH & ASSOCIATES .
  • Peer Review Auditor –M/S. BHAGAT & CO.
  • Bankers to the Company –  Punjab National Bank

Laxmi Goldorna IPO Review by Top 10 Stock Brokers

Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromters Reputation
Angel Broking6.5/106.6/106.6/106.4/106.4/10
Sharekhan6.7/106.4/106.6/106.1/106.2/10
Kotak Securities6.7/106.7/106.7/106.4/106.3/10
ICICI Direct6.6/106.3/106.7/106.5/106.5/10
IIFL6.4/106.7/106.8/106.4/106.7/10
Edelweiss6.7/106.4/106.4/106.3/106.7/10
Zerodha6.5/106.4/106.7/106.4/106.5/10
5Paisa6.7/106.4/106.3/106.7/106.5/10
Karvy6.8/106.3/106.7/106.4/106.0/10
Motilal Oswal6.6/106.4/106.6/106.6/106.4/10

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


Laxmi Goldorna IPO Grey Market Premium

The Laxmi Goldorna 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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Laxmi Goldorna IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

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