S M Gold IPO – Allotment status, Subscription, Grey Market & DRHP

S M Gold Limited is principally into the business of manufacturing and wholesale trading of mangalsutra jewellery. Besides mangalsutra jewellery, a minor part of business also includes other jewellery’s like Rings, Chain, Earrings, Ear Chain, Nose-rings/Nose pins, waist belts, Anklet, Zuda, Toe Ring, Pendant Set/Pendant, Bracelet and Bangles., wedding Jewellery, festive Jewellery. S M Gold IPO comprises of  25,00,000 Equity shares, face value of Rs.10 each.

Let’s have a detailed review of the company and analytics of the S M Gold IPO release date, IPO offer price, subscription, S M Gold IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


S M Gold IPO Review & Ratings

S M Gold IPO Ratings & Review
Criteria Ratings
Industry Sentiments  6.0/10
Industry Ranking  6.0/10
Company Background 6.1/10
Company Reputation 6.0/10
Competitive Edge 6.0/10
Financial Statements 6.0/10
Popularity Index 6.2/10
Promoters Reputation 6.0/10
Retail Appetite  6.0/10
Top Brokers Review 6.0/10
Overall Ratings  6.0/10
Star Ratings ★★★☆☆

Summary of S M Gold IPO

S M GOLD IPOS M Gold Limited jewellery is mostly traditional in style and is handmade by their workers. The Company has an in-house designing team which designs the mangalsutra and other jewelleries in traditional, modern and indo-western style. The Company also directly purchase designs from other jewellery designers. The Issue comprises of a Public Issue of 25,00,000 Equity shares of face value of Rs.10.00 each fully paid  up.

From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements,

From fiscal 2016 to 2017, company’s revenue from operations and net profit has increased at a growth rate of 4.41% and 9.68%, respectively.

For the period ended March 31, 2018, FY 2016-17 and FY 2015-16, its revenue from operations was Rs. 1,349.30  Lakhs, Rs. 2,271.58 Lakhs and Rs.  2,376.40 Lakhs, respectively representing growth of  40.60 from the FY 2017-16 to FY 2017-18. For the period ended March 31, 201, FY 2016-17 and FY 2015-16 our net profit was Rs.  24.41   Lakhs, Rs.22.28 Lakhs and Rs. 20.96 Lakhs, respectively, representing a growth of  9.68 % from the FY 2015-16 to FY 2016-17.

  • During the financial year 2017-18 the Other Income of our company decreased to Rs. 4.78  Lakhs as against Rs. 7.31 Lakhs for the financial year 2016-17, .
  • Company’s Net Profit after tax for the year 2016-17 is Rs. 17.96  Lacs from the year 2015-16 of Rs.17.92 Lacs showing an increase of 0.2 % from last year, showing remarkable performance.

The Promoter of this company is Mr. Priyank S. Shah and Mr. Pulkitkumar S. Shah . The lead manager to the issue is FIRST OVERSEAS CAPITAL LIMITED and the Registrar to this issue is KARVY COMPUTERSHARE PRIVATE LIMITED .


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S M Gold IPO Date

The opening and the closing date of IPO of S M Gold Limited is not known yet.


S M Gold IPO Subscription

Day / Date QIB NII RII Total Subscription
Day 1      
Day 2        
Day 3        
Day 4        
Day 5        

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


S M Gold IPO Allotment Status

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


S M Gold IPO Price Band

The face value of each share is Rs 10, and the cash price is Rs. 30, hence the premium price is Rs. 20.


S M Gold IPO Equity Share Offering

Equity shares offered up to 25,00,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 30/- per Equity Share aggregating Rs. 7,50,00,000. 

Net Issue to the Public: Up to 23,68,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 30/- per Equity Share aggregating Rs. 7,10,40,000.


S M Gold Limited – Company Overview

S M Gold Limited is principally into the business of manufacturing and wholesale trading of mangalsutra jewellery. Besides mangalsutra jewellery, a minor part of business also includes other jewellery’s like Rings, Chain, Earrings, Ear Chain, Nose-rings/Nose pins, waist belts, Anklet, Zuda, Toe Ring, Pendant Set/Pendant, Bracelet and Bangles., wedding Jewellery, festive Jewellery. S M Gold Limited  jewellery is mostly traditional in style and is handmade by their workers. The Company  has an in-house designing team which designs the mangalsutra and other jewellery’s in traditional, modern and indo-western style. The Company also directly purchase designs from other jewellery designers.

The jewellery sold by the company is sold under the brand name of “S M Gold – the House of Mangalsutra”. Their strength is in manufacturing Mangalsutra and Antique Jewellery. However, in order to cater to  customers taste, preference, choice and the ever changing trends in the jewellery, the company  offers the customers a wide variety of traditional, Indowestern, & modern jewellery also.

The Company is promoted by Mr. Priyank S. Shah and Mr. Pulkitkumar S. Shah and is the guiding force behind the growth and strategic decisions of the Company.

Competitive Strengths of S M Gold Limited:

  • Established brand name
  •  Quality Products
  •  Well established relationship with supplier
  •  Wide Range of Jewellery
  •  Experience of  Promoters
  •  Experienced management team & efficient work force

Business strategies of S M Gold Limited :

  • Innovation in designing
  •  Enhancing Operating Effectiveness & efficiency
  •  Continue to maintain strong relation with existing customers
  •  Marketing

S M Gold 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-17 31-Mar-16 31-Mar-15 31-Mar-14
Total Assets 598.33   655.84 499.4 481.32
Total Revenue 1,349.30   2,271.58 2,376.40 1,948.70
Total Expense 1,329.67  2,256.61 2,361.48 1,929.27
Profit After Tax 17.96   17.92 17.00 20.71

Earnings per Equity Share (in Lakhs)

31-Mar-18 31-Mar-16 31-Mar-15
Basic & Diluted 0.62

From the above statements, one could find that the S M Gold Limited may perform well.


S M Gold IPO – Promoters

The Promoter of this company are:

  1. Mr. Priyank S. Shah and Mr. Pulkitkumar S. Shah

List of Related Parties (Key Managerial Personnel)

  • Mr. Pulkitkumar S. Shah Managing Director
  • Mr. Priyank S. Shah Executive Director 
  • Mrs. Nitaben S. Shah

Interest in promotion of the Company

Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.

Property Interest

The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.

Interest in Intellectual Rights of the Company

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


S M Gold IPO Offer Details or Issue Details

 Particulars  No. Of Equity Shares
 Equity Shares Offered 25,00,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 30/- per Equity Share aggregating Rs. 7,50,00,000/-
 Of which:
 Reserved for Market Makers 1,32,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 30/- per Equity Share aggregating Rs. 39,60,000/-.
 Net Issue to the Public 23,68,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 30/- per Equity Share aggregating Rs. 7,10,40,000/-.
 Of which:
 Retail Investors Portion 11,84,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 30/- per Equity Share aggregating Rs. 3,55,20,000/-.
 Non-Retail Investors Portion 11,84,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. 30/- per Equity Share aggregating Rs. 3,55,20,000/-.
 Equity Shares outstanding prior to the Issue 41,91,673 Equity Shares
 Equity Shares outstanding after the Issue 66,91,673 Equity Shares

S M Gold IPO Issue Object

These are the IPO Issue Objects of the company

  • To meet working capital requirement; 
  • To meet the expenses of the Issue

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S M Gold 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 
  • Quality Products 
  • Well established relationship with our supplier 
  • Wide Range of Jewellery
  • Experience of  Promoters 
  • Experienced management team & efficient work force.                                                                                        

The relevant quantitative factors are:

Basic & Diluted EPS RONW (%) NAV (Rs.)
31-Mar-16
31-Mar-17
31-Mar-18 0.62 3.46 17.93
  • Industry P/E Ratio:
Particulars P/E ratio
Average 89.8
Highest 173.60
Lowest 6.1
  • Competitive Peers:
Particulars Face Value (in Rs.) EPS     (In Rs.) P/E Ratio RONW (%)  NAV (In Rs.)
Lypsa Gems Ltd 10 0.10 173.60 0.40 10.70
Narbada Gems Ltd 10 0.50 23.60 5.22 15.60

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S M Gold IPO Lead Managers

Lead Managers
FIRST OVERSEAS CAPITAL LIMITED
1-2 Bhupen Chambers, Ground Floor, Dalal Street,
Mumbai-400 001
Tel. No.: +91 22 22702067/68
Email: / /
Investor Grievance Email:
Website: www.focl.in
Contact Person: Mr. Rushabh Shroff/ Mr. Satish Sheth/ Ms. Mala Soneji
SEBI Registration No.: INM000003671

S M Gold 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.: 1-800-3454001/ +91 40 6716 2222
Fax No.: +91 40 2343 1551
E-mail:
Investor Grievance Email:
Website: www.karisma.karvy.com
Contact Person: Mr. M Murali Krishna
SEBI Registration No.: INR000000221

Other Details:

  • Statutory Auditor –  M/s. Bhagat & Co., Chartered Accountants.
  • Peer Review Auditor -M/s. Bhagat & Co., Chartered Accountants.
  • Bankers to the Company –  Yes Bank limited .

S M Gold IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promoters Reputation
Angel Broking 6.5/10 6.6/10 6.6/10 6.4/10 6.4/10
Sharekhan 6.7/10 6.4/10 6.6/10 6.1/10 6.2/10
Kotak Securities 6.7/10 6.7/10 6.7/10 6.4/10 6.3/10
ICICI Direct 6.6/10 6.3/10 6.7/10 6.5/10 6.5/10
IIFL 6.4/10 6.7/10 6.8/10 6.4/10 6.7/10
Edelweiss 6.7/10 6.4/10 6.4/10 6.3/10 6.7/10
Zerodha 6.5/10 6.4/10 6.7/10 6.4/10 6.5/10
5Paisa 6.7/10 6.4/10 6.3/10 6.7/10 6.5/10
Karvy 6.8/10 6.3/10 6.7/10 6.4/10 6.0/10
Motilal Oswal 6.6/10 6.4/10 6.6/10 6.6/10 6.4/10

S M Gold IPO Grey Market Premium

The S M Gold IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


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S M Gold IPO News

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