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.
RO Jewels IPO Review & Ratings
|IPO Ratings & Review|
|Top Brokers Review||7.8/10|
RO Jewels IPO Summary
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.
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)|
|Profit After Tax||15.05||1.49||6.85||5.87|
Earnings per Equity Share (in Lakhs)
|Amount (in INR & Lakhs)|
|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|
|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|
|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.)|
- Price to Earnings (P/E) ratio in relation to Price band of Rs.36 per Equity Share
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|
|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
|FIRST OVERSEAS CAPITAL LIMITED|
1-2 Bhupen Chambers, Ground Floor, Dalal Street,
Tel. No.: +91 22 40509999
Email: email@example.com/ firstname.lastname@example.org/ email@example.com
Investor Grievance Email: firstname.lastname@example.org
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
Investor Grievance Email: email@example.com
Contact Person: Mr. M Murali Krishna
SEBI Registration No.: INR000000221
- 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|
RO Jewels IPO Grey Market Premium
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