Shubhlaxmi Jewel Art IPO – Review, Allotment, Subscription, GMP & more

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. 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.

 


Shubhlaxmi Jewel Art IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments8.5/10
Industry Ranking7.8/10
Company Background7.9/10
Company Reputation7.9/10
Competitive Edge7.7/10
Financial Statements7.8/10
Popularity Index8.4/10
Promoters Reputation7.7/10
Retail Appetite7.9/10
Top Brokers Review7.9/10
Overall Ratings8.1/10
Star Ratings★★★★☆

Summary of Shubhlaxmi Jewel Art Limited IPO

Shubhlaxmi Jewel Art IPOShubhlaxmi 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 / DateQIBNIIRIITotal Subscription
    Day 1 – Nov 22, 20180.61x0.15x0.38x
    Day 2 – Nov 26, 20180.85x1.14x0.99x
    Day 3 – Nov 27, 20183.03x5.41x4.22x
    Shares Offered or Net Issue1,188,0001,188,0002,376,000

    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-1831-Mar-1731-Mar-1631-Mar-1531-Mar-14
    Total Assets1781.951480.171543.421524.081188.30
    Total Revenue4,684.914343.544743.384514.00697.57
    Total Expense4557.664249.354689.664322.34692.69
    Profit After Tax82.4364.8036.78129.223.35

    Earnings per Equity Share (in lakhs)

    31-Mar-1831-Mar-1731-Mar-1631-Mar-15
    Basic & Diluted1.421.120.632.23

    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 PortionUpto [●] 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 Issue58,00,000 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 EPSRONW (%)NAV (Rs.)
    31-Mar-160.6311.28
    31-Mar-171.1216.17
    31-Mar-181.4214.86
    9.57
    • Industry P/E Ratio:
    ParticularsP/E ratio
    Highest18.16
    Lowest4.46
    Average10.39
    • Competitive Peers:
    Sr. No. ParticularsFace Value  (in Rs.)Basic EPS (In Rs.)P/E RatioRONW (%) NAV (In Rs.)
    1Shubhlaxmi Jewel Art101.42NA14.869.57
    2D.P Abhushan Limited104.228.5319.8318.46
    3Moksh Ornaments
    Limited
    105.284.4615.1724.06
    4Thangamayil Jewellery
    Limited
    1016.5818.1613.48122.98

     

    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/sSanghavi & Company, Chartered Accountants
    • Peer Review Auditor – M/sN.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 ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
    Angel Broking7.5/107.4/108.5/108.1/107.1/10
    Sharekhan7.2/107.1/108.6/108.1/107.2/10
    Kotak Securities7.3/107.5/108.4/108.1/107.3/10
    ICICI Direct7.3/107.3/108.7/108.1/107.1/10
    IIFL7.5/107.2/108.8/108.0/107.1/10
    Edelweiss7.5/107.4/108.4/108.3/107.2/10
    Zerodha7.4/107.1/108.5/108.1/107.0/10
    5Paisa7.1/107.1/108.4/108.1/107.1/10
    Karvy7.4/107.3/108.2/108.1/107.1/10
    Motilal Oswal7.1/107.1/108.6/108.3/107.2/10

    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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      Shubhlaxmi Jewel Art Limited IPO News

      News 1 – IPO ISSUE OPENS SOON (Download Prospectus)


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