Shubhlaxmi Jewel Art IPO – Review, Allotment, Subscription, GMP & more
Last Updated Date: Nov 19, 2022Shubhlaxmi Jewel Art Limited are engaged in the retail and wholesale business of various jewelleries and ornaments made out of gold, silver, diamond and platinum studded with precious and semi-precious stones. Shubhlaxmi Jewel Art IPO comprises Offer of Public Issue Upto 25,04,000 Equity Shares of face value Rs. 10/- each fully paid of the Company for the cash at price of Rs 26 per Equity Share aggregating upto Rs 6.51 Crores.
Let’s have a detailed review of the company and analytics of the Shubhlaxmi Jewel Art IPO release date, IPO offer price, subscription, Shubhlaxmi Jewel Art IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
- Issue Price of this IPO is Rs 26. Check the Live Share Price here Shubhlaxmi Jewel Art Share Price
- To track the performance of this IPO, click on this link – IPO Performance
Shubhlaxmi Jewel Art IPO Review & Ratings
| IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 8.5/10 |
| Industry Ranking | 7.8/10 |
| Company Background | 7.9/10 |
| Company Reputation | 7.9/10 |
| Competitive Edge | 7.7/10 |
| Financial Statements | 7.8/10 |
| Popularity Index | 8.4/10 |
| Promoters Reputation | 7.7/10 |
| Retail Appetite | 7.9/10 |
| Top Brokers Review | 7.9/10 |
| Overall Ratings | 8.1/10 |
| Star Ratings | ★★★★☆ |
Summary of Shubhlaxmi Jewel Art Limited IPO
Shubhlaxmi Jewel Art Limited are engaged in the retail and wholesale business of various jewelleries and ornaments made out of gold, silver, diamond and platinum studded with precious and semi-precious stones. Their portfolio includes necklace, mangalsutra, patla, chains, mala, kandoro, pancho, payal, rings,armlets, pendants, bracelets, bangles and other jewelleries. The Offer comprises upto 25,04,000 Equity Shares of face value Rs. 10/- each.
From FY 2013-14 to FY 2016-2017, as per the Restated Financial Statements,
- For the three months ended May 31, 2018 and Fiscals 2018 and 2017, the total income was Rs. 4,684.92 lakhs, Rs. 4343.54 lakhs and Rs. 4743.39 lakhs, respectively.
- The pre-issue net worth as on May 31 , 2018 and March 31, 2018, as per the Restated Financial Statements included in this Draft Red Herring Prospectus is Rs. 583.70 lakhs and Rs. 554.89 lakhs, respectively.
- The net asset value per Equity Share as on May 31, 2018 and March 31, 2018, as per the Restated Financial Statements included in this Draft Red Herring Prospectus is Rs. 10.06 and Rs. 9.57 respectively.
- For the three months ended May 31, 2018 and Fiscals 2018 and 2017, the net profit after tax was Rs. 3.70 lakhs, Rs. 82.43 lakhs and Rs. 64.80 lakhs, respectively.
The Promoters of this company are Narendrasinh Chauhan and Jitendrakumar Chauhan. The lead manager to the issue is Pantomath Capital Advisors Private Limited and the Registrar to this issue is Link Intime India Private Limited.
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Shubhlaxmi Jewel Art IPO Date
The opening and the closing date of Shubhlaxmi Jewel Art Limited IPO is Nov 22, 2018 – Nov 27, 2018.
Shubhlaxmi Jewel Art IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| Day 1 – Nov 22, 2018 | – | 0.61x | 0.15x | 0.38x |
| Day 2 – Nov 26, 2018 | – | 0.85x | 1.14x | 0.99x |
| Day 3 – Nov 27, 2018 | – | 3.03x | 5.41x | 4.22x |
| Shares Offered or Net Issue | – | 1,188,000 | 1,188,000 | 2,376,000 |
The shares subscribed by the public is updated.
Shubhlaxmi Jewel Art IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Shubhlaxmi Jewel Art IPO Price Band
The face value of each share is Rs 10, but the price band or cash price of the IPO is Rs 26 Per Equity Share.
Shubhlaxmi Jewel Art IPO Equity Share Offering
Offer of Public Issue Upto 25,04,000 Equity Shares of face value Rs. 10/- each fully paid of the Company for the cash at price of Rs 26 per Equity Share aggregating up to Rs 6.51 Crores. The Minimum Order Quantity is 4000 Shares.
Shubhlaxmi Jewel Art Limited – Company Overview
Shubhlaxmi Jewel Art Limited are engaged in the retail and wholesale business of various jewelleries and ornaments made out of gold, silver, diamond and platinum studded with precious and semi-precious stones. Their portfolio includes necklace, mangalsutra, patla, chains, mala, kandoro, pancho, payal, rings,armlets, pendants, bracelets, bangles and other jewelleries. Their products have presence across different price points cater to customers across high end markets, mid market, value segments. The ornaments are also made to order as per the customers and the same are manufactured by the third party manufacturers on a job work basis.
In addition to their retail operations they also sell the jewelleries on a wholesale basis to the other retailers in Gujarat. Their showroom is in Bhavnagar, Gujarat and also they are setting up their manufacturing plant in Bhavnagar, Gujarat to cater the demands of local customers.
Their wide range of product offerings cater to diverse customer segments from the high end to mid market and value market segment. Their portfolio consists of Rajasthani, Junagadhi, Bridal, potka, fine pearl and other antique jewellery items.
The Company is promoted by Narendrasinh Chauhan and Jitendrakumar Chauhan and are the guiding force behind the growth and strategic decisions of the Company.
Competitive Strengths of Shubhlaxmi Jewel Art Limited:
- Wide range of products
- Strong understanding of customer preference
- Quality of their products
- Experienced promoters
Business strategies of Shubhlaxmi Jewel Art Limited:
- Continue to invest in their marketing and brand building initiatives.
- Focus on product innovation
- Setting up of manufacturing facility.
- Continue to focus on their existing customers
- Consistently meeting quality and purity
Shubhlaxmi Jewel Art 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-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Assets | 1781.95 | 1480.17 | 1543.42 | 1524.08 | 1188.30 |
| Total Revenue | 4,684.91 | 4343.54 | 4743.38 | 4514.00 | 697.57 |
| Total Expense | 4557.66 | 4249.35 | 4689.66 | 4322.34 | 692.69 |
| Profit After Tax | 82.43 | 64.80 | 36.78 | 129.22 | 3.35 |
Earnings per Equity Share (in lakhs)
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | |
| Basic & Diluted | 1.42 | 1.12 | 0.63 | 2.23 |
From the above statements, one could find that the Shubhlaxmi Jewel Art Limited may perform well.
Shubhlaxmi Jewel Art IPO – Promoters
The Promoters of this company are:
- Narendrasinh Chauhan
- Jitendrakumar Chauhan
List of Related Parties (Key Managerial Personnel)
- Narendrasinh Chauhan
- Jitendrakumar Chauhan
- Jagrutiben Chauhan
- Kajal Chauhan
- Bhadreshkumar Dave
- Ramkrushn Champaneri
- Rakesh Soni
- Snehalben Jani
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.
Shubhlaxmi Jewel Art IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Upto 25,04,000 Equity Shares of face value Rs. 10/- each fully paid of the Company for the cash at price of Rs 26 per Equity Share aggregating upto Rs 6.51 Crores. |
| Of which: | |
| Reserved for Market Makers | Upto [●] Equity Shares of face value Rs. 10/- each fully paid of the Company for the cash at price of Rs.[●] per Equity Share aggregating upto Rs [●] lakhs. |
| Net Issue to the Public | Upto [●] Equity Shares of face value Rs. 10/- each fully paid of the Company for the cash at price of Rs.[●] per Equity Share aggregating upto Rs [●] lakhs. |
| Of which: | |
| Retail Investors Portion | Upto [●] Equity Shares of face value of Rs. 10/- each (available for allotment to Retail Individual Investors of up to Rs. 2.00 Lacs) |
| Non-Retail Investors Portion | Upto [●] Equity Shares of face value of Rs. 10 /- each (available for allocation to investors up to Rs. 2.00 Lacs) |
| Equity Shares outstanding prior to the Issue | 58,00,000 Equity Shares |
| Equity Shares outstanding after the Issue | [●] Equity Shares |
Shubhlaxmi Jewel Art IPO Issue Object
These are the IPO Issue Objects of the company
- Funding the Working Capital requirements of the Company:
- Repayment/ pre-payment of certain unsecured loans availed from banks and financial institutions by the company; and
- General Corporate Purposes
Shubhlaxmi Jewel Art 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:
- Wide range of products
- Strong understanding of customer preference
- Quality of their products
- Experienced promoters
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-16 | 0.63 | 11.28 | – |
| 31-Mar-17 | 1.12 | 16.17 | – |
| 31-Mar-18 | 1.42 | 14.86 |
9.57 |
- Industry P/E Ratio:
| Particulars | P/E ratio |
| Highest | 18.16 |
| Lowest | 4.46 |
| Average | 10.39 |
- Competitive Peers:
| Sr. No. | Particulars | Face Value (in Rs.) | Basic EPS (In Rs.) | P/E Ratio | RONW (%) | NAV (In Rs.) |
| 1 | Shubhlaxmi Jewel Art | 10 | 1.42 | NA | 14.86 | 9.57 |
| 2 | D.P Abhushan Limited | 10 | 4.22 | 8.53 | 19.83 | 18.46 |
| 3 | Moksh Ornaments Limited |
10 | 5.28 | 4.46 | 15.17 | 24.06 |
| 4 | Thangamayil Jewellery Limited |
10 | 16.58 | 18.16 | 13.48 | 122.98 |
Shubhlaxmi Jewel Art IPO Lead Managers
| Lead Managers |
| PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED 406-408, Keshava Premises, Behind Family Court, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India Tel: +91-22 6194 6700 Fax: +91-22 2659 8690 Website:www.pantomathgroup.com Email: ipo@pantomathgroup.com Investor Grievance Id: ipo@pantomathgroup.com Contact Person: Hardik Bhuta SEBI Registration No:INM000012110 |
Shubhlaxmi Jewel Art IPO Registrar to offer
| Registrar to the Offer |
| LINK INTIME INDIA PRIVATE LIMITED C-101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai- 400 083, India Tel: 022-49186200; Fax: 022-49186195; Email: shubhlaxmi.ipo@linkintime.co.in Website: www.linkintime.co.in Investor Grievance Id: shubhlaxmi.ipo@linkintime.co.in Contact Person: Shanti Gopalkrishnan SEBI Registration Number: INR000004058 |
Other Details:
- Statutory Auditor – M/s. Sanghavi & Company, Chartered Accountants
- Peer Review Auditor – M/s. N.K Aswani & Co., Chartered Accountants
- Bankers to the Company – Kotak Bank Limited.
Shubhlaxmi Jewel Art Limited 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 |
Shubhlaxmi Jewel Art Limited IPO Grey Market Premium
The Shubhlaxmi Jewel Art Limited 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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