RO Jewels IPO Review, Dates, Allotment, Size, Live Bid Details, GMP & RHP

Last Updated Date: Aug 24, 2022

Let’s have a detailed review of the company and analytics of the RO Jewels Limited IPO release date, IPO offer price, subscription, RO Jewels IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things. Stock Broker Complaints

RO Jewels IPO Review & Ratings

IPO Ratings & Review
Criteria	Ratings
Industry Sentiments	7.9/10
Industry Ranking	7.2/10
Company Background	8.2/10
Company Reputation	7.7/10
Competitive Edge	7.2/10
Financial Statements	8.0/10
Popularity Index	7.9/10
Promoters Reputation	8.0/10
Retail Appetite	7.1/10
Top Brokers Review	7.8/10
Overall Ratings	7.5/10
Star Ratings	★★★★☆

RO Jewels IPO Summary

RO Jewels IPO

They are engaged in the wholesale business of gold and Silver chains. Their registered office and business of operation is based in Ahmedabad. They essentially sell gold based chains, bracelets, gold/silver bars and necklaces. This company procure gold & silver majorly through the bullion market and partially from the local markets in Ahmedabad.

They purchase only readymade Chains and other jewelries from the jewellery manufacturers or independent jewellery wholesalers located in Ahmedabad and Mumbai. These are then sold through their showroom situated at Manek Chowk, Ahmedabad and by their marketing and sales team directly to other jewellery stores. Their jewellery is widely sold throughout Gujarat only through B2B marketing and/ or Direct/Outbound marketing strategy.

From FY 2016-17 to FY 2018-2019, as per the Restated Financial Statements

Their revenue is Rs.1,047.22 Lakhs in fiscal 6 months ending on September 30, 2019, Rs.424.34 Lakhs in fiscal year 2019, Rs.975.70 Lakhs in fiscal year 2018 and Rs.574.40 Lakhs in fiscal year 2017.
Their net profit after tax was Rs.15.05 Lakhs in fiscal 6 months ending on September 30, 2019, Rs.1.49 Lakhs in fiscal year 2019, Rs.6.85 Lakhs in fiscal year 2018 and Rs.5.87 Lakhs in fiscal year 2017.

The Promoters of this company are MR. BHARAT RASIKLAL SHAH, MRS. PRAVINABEN SHAH AND MR. SHUBHAM BHARATBHAI SHAH. The lead manager to the issue is FIRST OVERSEAS CAPITAL LIMITED. The Registrar to this issue is KFIN TECHNOLOGIES PRIVATE LIMITED.

List of Upcoming IPOs

RO Jewels IPO Dates / Launch Date

The opening and the closing date of RO Jewels IPO is Mar 12, 2020 – Mar 17, 2020.

RO Jewels IPO Subscription

Day / Date	NII	RII	Total Subscription
1st Day – Mar 12	0.00x	0.00x	0.00x
2nd Day – Mar 13	0.17x	0.01x	0.09x
3rd Day – Mar 16	0.71x	0.06x	0.39x
4th Day – Mar 17	1.12x	0.08x	0.60x
Shares Offered or Net Issue	69,000	69,000	1,296,000

The shares subscribed by the public will be updated here.

RO Jewels IPO Allotment Status

Here, you can find the Allotment Status of this IPO.

Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment status is not yet disclosed.

RO Jewels IPO Listing Date

Find the dates below on basis of allotment, refund, listing and more:

Basis of Allotment Finalization	Mar 20, 2020
Refunds Initiation	Mar 23, 2020
Credit of Shares to Demat Account	Mar 24, 2020
Share Listing Date	Mar 25, 2020

RO Jewels IPO Price Band / Cash Price

The face value of each share is Rs.10, and the cash price of the IPO is Rs.36.

RO Jewels IPO Size

This Initial Public Issue of 13,65,000 Equity Shares of Rs.10 each for cash at a price of Rs.36 per equity share aggregating to Rs.491.40 Lakhs.

RO Jewels IPO Share Offering

Fresh Issue: The Fresh Issue of 13,65,000 Equity Shares by their Company of Rs.10 each at a price of Rs.36 per equity share aggregating to Rs.491.40 Lakhs,

Net Issue : The Net Issue of 12,96,000 Equity Shares of Rs.10 each at Rs.36 per Equity Share aggregating to Rs.466.56 Lakhs.

RO Jewels Limited – Company Overview

Their Company was originally incorporated RO Jewels Private Limited under the Companies Act, 2013 vide certificate of incorporation dated December 11, 2018 issued by the Registrar of Companies, Central Registration Centre, Manesar.

Subsequently, Their Company was converted in to a public company pursuant to a special resolution passed by their shareholders at the EGM held on September 20, 2019 and consequently name was changed to ―RO Jewels Limited‖ (ROJL) vide fresh certificate of incorporation dated October 01, 2019 issued by Registrar of Companies, Gujarat, Dadra and Nagar Havelli.

RO Jewels Diversified Portfolio

They have a diversified portfolio for chains and jewelries that cater to their customers taste, preference, choice and the ever changing trends in the chain and jewellery designs.

Their portfolio offers their customers a wide variety of traditional, Indo-western, & modern chain and jewellery. They procure chains and jewelries that are hallmarked from BIS recognized Assaying and Hallmarking Centre for their customers.

The BIS hallmark, is a mark of conformity widely accepted by the consumer bestow the additional confidence to the consumer on the purity of their gold jewellery. Their promoters together have an approximate 40 years of experience in gems and jewellery industry.

RO Jewels IPO – Product Portfolio

Chains – Machine Chains; Fancy Pipe Chains; Handmade Chains; Louts Chains; Indo Italian Chains; Singapore Chains; Lazer Nawabi Chains; Nawabi Chains; Bahubali Chains; and CZ Chains.
Other Jewellery – Rudrax & Verticle Mala, Chokar & Short Set, Bangles, Mangalsutra, Long & Antique Jadtar.
Bracelets – Indo Italian Bracelets; Bombay Nawabi Bracelets; Lazer Nawabi Bracelets; Nawabi Bracelets; Hollow Bracelets; Lotus Bracelets; Bahubali Bracelets; C. Z. Bracelets; Singpore Bracelets; Ladies CZ Bracelets; Rudrax Bracelets; Cartier Bracelets; and Simple Bracelets.

RO Jewels Sales & Marketing

Currently, they sell their branded products only in Indian Markets-in Gujarat. The efficiency of the marketing and sales network is critical success factor of their Company. The marketing channels adopted by their Company include participation in domestic trade fairs and jewellery exhibitions etc.

Their marketing team maintains an ongoing relationship with their customers. They also regularly solicit prospective customers by providing them with the structured findings and updated catalogues.

Further, they follow structured approach for their product development which involves market research, sales analysis and brand development. They share their findings with their existing and potential customers in securing new orders.

RO Jewels IPO : Business strategies

Focus on increasing Market Share in the Domestic Market
Grow sales in regulated markets through business arrangements
Focus on increasing product visibility through various branding, advertising and marketing methods
Active and regular participation in trade fairs and exhibitions

RO Jewels IPO – Financial Statements

On the basis of Standalone statement:

Amount (in INR & Lakhs)
	30-Sep-19	31-Mar-19	Mar-18	31-Mar-17
Total Assets	580.25	179.06	230.49	156.13
Total Revenue	1,047.22	424.34	975.70	574.40
Total Expense	1,025.72	422.85	968.64	568.37
Profit After Tax	15.05	1.49	6.85	5.87

Earnings per Equity Share (in Lakhs)

Amount (in INR & Lakhs)
	30-Sep-19	Mar-19	31-Mar-18	31-Mar-17
Basic & Diluted	1.20	0.33	–	–

RO Jewels IPO – Promoters

The Promoters of this company are:

MR. BHARAT RASIKLAL SHAH,
MRS. PRAVINABEN SHAH
MR. SHUBHAM BHARATBHAI SHAH

List of Related Parties (Key Managerial Personnel)

MR. SHUBHAM BHARATBHAI SHAH, Chief Financial Officer

Interest in promotion of the Company

To the extent to remuneration received/ to be received by their Directors, none of their Directors have any interest in the promotion of their Company.

Interests of Promoter in property of their Company

Their Directors have no interest in any property acquired or proposed to be acquired by their Company in the preceding two years from the date of this Draft Prospectus.

RO Jewels IPO Issue Details or Offer Details

Particulars	No. Of Equity Shares
Equity Shares Offered	Up to 13,65,000 Equity Shares, aggregating up to Rs.4,91,40,000
Of which:
Market Maker Reservation Portion	69,000 Equity Shares, aggregating up to Rs.24,84,000
Net Issue to Public	Up to 12,96,000 Equity Shares, aggregating up to Rs.4,66,56,000
Of which:
Retail Individual Investors Portion	6,48,000 Equity Shares, aggregating Rs.2,33,28,000
Non-Retail Investors/Other than Retail Individual Investors Portion	6,48,000 Equity Shares, aggregating Rs.2,33,28,000
Equity Shares outstanding prior to the Issue	14,67,083 Equity Shares
Equity Shares outstanding after the Issue	28,32,083 Equity Shares

RO Jewels IPO Issue Object

The Net Proceeds from the Issue are proposed to be utilized by their Company for the following objects:

1) Additional Working Capital;

2) General Corporate Expenses and

3) To meet the expenses of the Issue.

RO Jewels Limited: Competitive Strength

They sell under their established brand named
Ravi Ornaments‖ in the local jewellery market in Ahmedabad.
They maintain long term strong business relationships with their key suppliers as they procure chains and jewelries in bulk.
They have smooth credit cycle with their debtors and creditors. This gives us leverage over the others as there is flexibility in payment cycle.
Their company has experienced Promoters & Management

RO 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.

Qualitative factors are:

Established Brand Name- “Ravi Ornaments”
Smooth credit cycle with their debtors and creditors
Long term strong business relationships with their key suppliers
Experienced Promoters &Management

RO Jewels IPO – Quantitative Factors

	Basic & Diluted EPS	RONW in %	NAV (Rs.)
31-Mar-17	–	–	–
31-Mar-18	–	–	–
31-Mar-19	2.51	1.38	43.68

Price to Earnings (P/E) ratio in relation to Price band of Rs.36 per Equity Share

Particulars	P/E ratio
Highest	73.20
Average	39.75
Lowest	6.30

RO Jewels Limited: Competitive Peers

	Face Value (Rs.)	P/E	EPS (Basic&Diluted) (Rs.)	Return on Net Worth (%)	NAV per share (Rs.)
RO Jewels Limited	10	14.34	1.03	2.91	35.21
Listed Peers
Narbada Gems and Jewellery Ltd.	10	13.78	2.05	12.82	16.94
Vaibhav Global Ltd	10	76.29	10.34	6.30	164.99

RO Jewels IPO Lead Managers

Lead Managers

FIRST OVERSEAS CAPITAL LIMITED
1-2 Bhupen Chambers, Ground Floor, Dalal Street,
Mumbai-400 001
Tel. No.: +91 22 40509999
Email: rushabh@focl.in/ satish@focl.in/ mala@focl.in
Investor Grievance Email: investorcomplaints@focl.in
Website: www.focl.in
Contact Person: Mr. Rushabh Shroff/ Mr. Satish Sheth/ Ms. Mala Soneji
SEBI Registration No.: INM000003671

RO Jewels IPO Registrar to Offer

Registrar to the Offer

KFIN TECHNOLOGIES PRIVATE LIMITED
Selenium Tower B, Plot 31-32, Gachibowli, Financial District, Nanakramguda, Hyderabad 500 032
Tel. No.: +91 40 6716 2222
Fax No.: +91 40 2343 1551
E-mail: einward.ris@kfintech.com
Investor Grievance Email: rojewels.ipo@karvy.com
Website: www.kfintech.com
Contact Person: Mr. M Murali Krishna
SEBI Registration No.: INR000000221

Other Details:

Statutory Auditor – BHAGAT & CO.,CHARTERED ACCOUNTANTS
Legal Counsel to the Company – MOH. SALIM M. MANSURI
Bankers to the Company – YES BANK LIMITED

RO Jewels IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review	Company Reputation	Competitive Edge	Financial Statement	Popularity Index	Promoters Reputation
Angel Broking	7.5/10	7.4/10	8.5/10	8.1/10	7.1/10
Sharekhan	7.2/10	7.1/10	8.6/10	8.1/10	7.2/10
Kotak Securities	7.3/10	7.5/10	8.4/10	8.1/10	7.3/10
ICICI Direct	7.3/10	7.3/10	8.7/10	8.1/10	7.1/10
IIFL	7.5/10	7.2/10	8.8/10	8.0/10	7.1/10
Edelweiss	7.5/10	7.4/10	8.4/10	8.3/10	7.2/10
Zerodha	7.4/10	7.1/10	8.5/10	8.1/10	7.0/10
5Paisa	7.1/10	7.1/10	8.4/10	8.1/10	7.1/10
Karvy	7.4/10	7.3/10	8.2/10	8.1/10	7.1/10
Motilal Oswal	7.1/10	7.1/10	8.6/10	8.3/10	7.2/10