Silgo Retail Limited IPO – Review, Allotment, Subscription, GMP & DRHP
Last Updated Date: Nov 19, 2022Silgo Retail Limited is engaged in the business of designing, manufacturing, retailing and wholesaling of silver jewellery. They deal in silver jewellery and offer a wide variety of designs to suit the preferences of the end customers. Silgo Retail Limited IPO comprises of a Public Issue of 1360000 Equity shares of face value of Rs.10.00 each fully paid up.
Let’s have a detailed review of the company and analytics of the Silgo Retail Limited IPO release date, IPO offer price, subscription, Silgo Retail Limited 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 36. Check the Live Share Price here SILGO Retail Share Price
- To track the performance of this IPO, click on this link – IPO Performance
Silgo Retail Limited 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 Silgo Retail Limited IPO
Silgo Retail is engaged in the business of designing, manufacturing, retailing and wholesaling of silver jewellery. They deal in silver jewellery and offer a wide variety of designs to suit the preferences of the end customers. . Up to 1360000 Equity Shares for cash at a price of Rs 36 per Equity Share (including a premium of Rs 26 per Equity Share) aggregating up to Rs. 4.88 Crores. The Issue will constitute 26.82 % of the post-issue paid-up Equity Share capital of the Company.
From FY 2012-13 to FY 2014-2015, as per the Restated Financial Statements,
- The Net Worth of the Company is Rs. 113.74 lakhs and the book value of each Equity Share was Rs. 3.08 as on March 31, 2018 as per the Restated Financial Statements
- For Fiscal Years 2018, 2017 and 2016, they generated revenue from operations of Rs 1,646.51 lakhs, Rs.497.62 lakhs respectively.
The Promoters of this company are Mr. Nitin Jain and Mrs. Bela Agrawal. The lead manager to the issue is ARYAMAN FINANCIAL SERVICES LIMITED and the Registrar to this issue is BIGSHARE SERVICES PRIVATE LIMITED.
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Silgo Retail Limited IPO Date
The opening and the closing date of IPO of Silgo Retail Limited is not known yet.
Silgo Retail Limited IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| Day 1: 27 Sept 2018 | NA | 0.02x | 0.01x | 0.02x |
| Day 2: 28 Sept 2018 | NA | |||
| Day 3: 1 Oct 2018 | NA | |||
| Day 4: 3 Oct 2018 | NA | |||
| Shares Offered or Net Issue | NA | 642,000 | 642,000 | 1,284,000 |
Silgo Retail Limited IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
| Basis of Allotment Finalization | 8-Oct-18 |
| Refunds Initiation | 9-Oct-18 |
| Credit of Shares to Demat Account | 10-Oct-18 |
| Listing Date | 11-Oct-18 |
Silgo Retail Limited IPO Price Band
The face value of each share is Rs 10 and the cash price is Rs 36 .
Silgo Retail Limited IPO Equity Share Offering or Issue Size
13,60,000 Equity Shares of Rs 10/- each and 1,356,000 Shares of Rs 10, aggregating up to Rs 4.88 Crores.
Silgo Retail Limited – Company Overview
This Company was incorporated as “Silgo Retail Private Limited” on January 09, 2016, under the Companies Act, 2013 with the Registrar of Companies, Jaipur at Rajasthan. The status of the Company was changed to a public limited company and the name of the Company was changed to “Silgo Retail Limited” by a special resolution passed on July 24, 2018.
Silgo Retail is engaged in the business of designing, manufacturing, retailing and wholesaling of silver jewellery. They deal in silver jewellery and offer a wide variety of designs to suit the preferences of the end customers. They have diverse portfolio of ornaments and jewellery to suit the taste and preferences of one & all and accordingly and have developed an ability to design the jewellery products as per latest trends, fashion and demographic preference of the end customers. Their products include silver jewellery with varied range of designs such portfolio includes rings, earrings, bracelets, necklaces, jhumki, bangles and customized jewellery based on customer demand. They mainly deal in silver jewellery. These jewellery made at their company is cast in 925 sterling sliver.
Competitive Strengths of Silgo Retail Limited:
- Experienced Promoters and well trained management team
- Dyuti – Concept initiated for women empowerment
- Access to advanced technology and modern equipments
- Multiple Products
- Quality products
- Customer Satisfaction
Business strategies of Silgo Retail Limited:
- Expansion in different geographies.
- Online sale of Jewellery.
- Growth in Business from existing customers.
- Adding new designs to product portfolio.
- Continue to focus on maintaining strong relation with existing customers.
- Active and regular participation in trade fairs and exhibitions.
- Enhancing Operating Effectiveness & efficiency.
Silgo Retail 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 | |
| Total Assets | 902.56 | 244.23 | 1.16 |
| Total Revenue | 1,646.51 | 497.62 | – |
| Total Expense | 1,515.44 | 471.21 | – |
| Profit After Tax | 94.75 | 18.15 | – |
Earnings per Equity Share (in Lakhs)
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Basic /Diluted | 13.60 | 8.27 | 10.12 |
From the above statements, one could find that the Silgo Retail Limited may perform well.
Silgo Retail Limited IPO – Promoters
The Promoters of this company are:
- Mr. Nitin Jain
- Mrs. Bela Agrawal
List of Related Parties (Key Managerial Personnel)
- Mrs. Anjana Jain
- Mr. Shalabh Gupta
- Mr. Gopal Singh
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.
Silgo Retail Limited IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 1360000 Equity Shares for cash at a price of Rs 36 per Equity Share (including a premium of Rs 26 per Equity Share) aggregating up to Rs. 4.88 Crores. |
| Of which: | |
| Reserved for Market Makers | Upto 80,000 Equity Shares of Rs. 10 each for cash at a price of Rs [●] per share aggregating Rs [●] lakhs |
| Net Issue to the Public | Upto 12,80,000 Equity Shares of Rs. 10 each for cash at a price of Rs [●] per share aggregating Rs [●] lakhs |
| Of which: | |
| Retail Investors Portion | Upto 6,40,000 Equity Shares of Rs.10 each at a price of Rs.[●] per Equity Share will be available for allocation for Investors of up to Rs. 2.00 lakhs |
| Non-Retail Investors Portion | Upto 6,40,000 Equity Shares of Rs.10 each at a price of Rs.[●] per Equity Share will be available for allocation for Investors of above Rs. 2.00 lakhs |
| Equity Shares outstanding prior to the Issue | 37,10,000 Equity Shares of face value of Rs.10 each |
| Equity Shares outstanding after the Issue | 50,70,000 Equity Shares of face value of Rs.10 each |
Silgo Retail Limited IPO Issue Object
These are the IPO Issue Objects of the company
- Funding the Working Capital requirements of the Company
- General Corporate Purposes
Silgo Retail Limited 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:
- Experienced Promoters and well trained management team
- Dyuti – Concept initiated for women empowerment
- Access to advanced technology and modern equipments
- Multiple Products
- Quality Assurance in order to provide quality products
The relevant quantitative factors are:
| Basic EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-17 | 0.49 | 95.83 | – |
| 31-Mar-18 | 2.56 | 83.30 | 1137.4 |
- Industry P/E Ratio:
| Particulars | P/E ratio |
| Highest | 173.6 |
| Lowest | 6.10 |
| Average | 30.70 |
- Competitive Peers:
There are no listed entities in India which are similar to their line of business and comparable to their scale of operations.
Silgo Retail IPO Lead Managers
| Lead Managers |
| ARYAMAN FINANCIAL SERVICES LIMITED 60, Khatau Building, Ground Floor, Alkesh Dinesh Modi Marg, Fort, Mumbai – 400 001 Tel No.: +91 – 22 – 6216 6999 Fax No.: +91 – 22 – 2263 0434 Email: ipo@afsl.co.in Website: www.afsl.co.in Investor Grievance Email: feedback@afsl.co.in Contact Person: Ms. Hiral Motani/ Mr. Linesh Pobaru SEBI Registration No.: INM000011344 |
Silgo Retail Limited IPO Registrar to offer
| Registrar to the Offer |
| BIGSHARE SERVICES PRIVATE LIMITED 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri East, Mumbai – 400 059 Tel No.: +91 – 22 – 6263 8200; Fax No.: +91 – 22 – 6263 8299; Email: ipo@bigshareonline.com; Website: www.bigshareonline.com Investor Grievance Email: investor@bigshareonline.com; Contact Person: Mr. Srinivas Dornala SEBI Registration No.: INR000001385 |
Other Details:
- Statutory Auditor – M/s. S.C. Kabra & Co., Chartered Accountants
- Peer review Auditor– M/s. PSD & Associates, Chartered Accountants
Silgo Retail 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 |
Silgo Retail Limited IPO Grey Market Premium
The Silgo Retail 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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