Silgo Retail Limited IPO – Review, Allotment, Subscription, GMP & DRHP

Silgo 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.


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 Limited IPOSilgo 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:

  1. Mr. Nitin Jain
  2. 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

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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.


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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:
Website: www.afsl.co.in
Investor Grievance Email:
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: ;
Website: www.bigshareonline.com
Investor Grievance Email: ;
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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Silgo Retail Limited IPO News

News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

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