Sky Gold Limited IPO – Review, Allotment, Subscription, GMP & DRHP

Sky Gold Limited is engaged in the business of designing, manufacturing and marketing of Gold jewelleries since its incorporation. Sky Gold Limited IPO comprises of 14,20,000 Equity shares, face value of Rs.10 each.

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


Sky Gold Limited IPO Review & Ratings

Sky Gold Limited IPO Ratings & Review
CriteriaRatings
Industry Sentiments 6.3/10
Industry Ranking 6.3/10
Company Background6.1/10
Company Reputation6.4/10
Competitive Edge6.4/10
Financial Statements6.5/10
Popularity Index6.2/10
Promoters Reputation6.3/10
Retail Appetite 6.2/10
Top Brokers Review6.3/10
Overall Ratings 6.3/10
Star Ratings★★★☆☆

Summary of Sky Gold Limited IPO

Sky Gold Limited IPOSky Gold is engaged in the business of designing, manufacturing and marketing of Gold jewelleries since its incorporation. The Promoters of this company are Mr. Mangesh Chauhan, Mr. Mahendra Chauhan and Mr. Darshan Chauhan. The lead manager to the issue is Aryaman Financial Services Limited and the Registrar to this issue is Link Intime India Private Limited. The Public Issue of 14,20,000 Equity Shares for cash at price of Rs. [●] per share including a premium of Rs. [●] aggregating to Rs. [●] lakhs. The Issue will constitute 26.43 % of the post-Issue paid-up Equity Share capital of the Company.

  • In the past three years, though there was a decrease in revenue from Rs. 18,331.31 lakhs in the F. Y. 2015-16 to Rs. 16,441.05 lakhs in the F. Y. 2016-17 i.e. 10.31% due to decreasing gold prices, they have recorded an increase in revenues in the F. Y. 2017-18 to Rs 54,886.27 lakhs, showing an increase of 233.84%.
  • Between F. Y. 2013-14 and F. Y. 2017-18, the total revenue grew at a CAGR of 41.65% from Rs. 9,624.74 lakhs for F. Y. 2013-14 to Rs. 54,886.27 lakhs for F. Y. 2017-18, EBITDA grew at a CAGR of 16.42% from Rs. 359.85 lakhs for F. Y. 2013-14 to Rs. 769.71 lakhs for F. Y. 2017-18 and the PAT grew at a CAGR of 32.80% from Rs. 63.59 lakhs for F. Y. 2013-14 to Rs. 262.64 lakhs for F. Y. 2017-18.
  • Net Profit after tax for the above mentioned periods are Rs. 94.03 lakhs, Rs. 93.93 lakhs and Rs. 262.64 lakhs, respectively.
  • The Net Worth of the Company is Rs. 1,348.06 lakhs and the book value of each Equity Share was Rs. 34.11/- as of March 31, 2018 as per the Restated Consolidated Financial Statements.

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    Sky Gold Limited IPO Date

    The opening and the closing date of IPO of Sky Gold is 18 Sept 2018 to 21 Sept 2018.


    Sky Gold Limited IPO Subscription

    Day / DateQIBNIIRIITotal Subscription
    Day 1: 18 Sept 20180.77x0.09x0.43x
    Day 2: 19 Sept 2018
    Day 3: 20 Sept 2018
    Shares Offered674,000674,0001,348,000

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


    Sky Gold Limited IPO Allotment Status

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

    Basis of Allotment Finalization Sep 26, 2018
    Refunds InitiationSep 27, 2018
    Credit of Shares to Demat AccountSep 28, 2018
    IPO Shares Listing DateOct 1, 2018

    Sky Gold Limited IPO Price Band

    The face value of each share is Rs 10, but the issue price is Rs 180. 


    Sky Gold Limited IPO Equity Share Offering

    14,20,000 Equity Shares of Rs 10/- each and Issue Price Rs 180 aggregating to Rs 25.56 Crores.


    Sky Gold Limited – Company Overview

    Sky Gold is engaged in the business of designing, manufacturing and marketing of Gold jewelleries since its incorporation. They mainly deal in 22 Karat gold jewellery, offering a wide variety of designs to suit preferences of the end customer. They have the ability to create localised product design mixes to suit various regional tastes. They provide an extensive range of designs and also use studded American diamonds and/or coloured stones in many of the jewellery products.

    They offer a wide range of products from gold jewellery for special occasions such as weddings and festivals to daily wear jewellery for all ages, genders and across various price points. They cater to a variety of customers across mid-market and value market segments and the products are designed by the in-house team of creative designers and also certain freelance designers, allowing us to manage a large and diverse portfolio of designs.

    The product range includes necklaces, rings, pendants, bracelets, earrings and bangles and customized jewellery based on customer demand. Besides, various clients in Mumbai and nearby areas. They also cater to various jewellery brands.

    They operate from a 2,740 sq. ft. sole manufacturing facility which is located in the heart of Mumbai city in Mulund (West) where they make casting based jewellery using rubber dye, wax moulds and machines.

    The Company is promoted by Mr. Mangesh Chauhan, Mr. Mahendra Chauhan and Mr. Darshan Chauhan and is the guiding force behind the growth and strategic decisions of the Company.

    Competitive Strengths of Sky Gold:

    • Wide product range.
    • Experienced management and well trained and trustworthy employee base.
    • Strong understanding of customer preference.
    • Established marketing setup.
    • Fully integrated manufacturing facility.
    • Strategic location of manufacturing facility and sales offices.

    Business strategies of Sky Gold:

    • Augment the fund based capacities in order to scale up business operation.
    • Improving Debt – Equity Ratio
    • Expand the Geographical Reach.
    • Adding new designs to the portfolio.
    • Focus on consistently meeting quality standards.
    • Leveraging the Market skills and Relationships.
    • Increasing Operational efficiency.

    Sky 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:

    (Based on Standalone)

    Amount (in INR & Lakhs)
    31-Mar-1831-Mar-1731-Mar-1631-Mar-1531-Mar-14
    Total Assets6,624.203,696.173,486.302,915.562,648.57
    Total Revenue54,889.5316,441.0518,331.3112,777.459,624.74
    Total Expense54,495.7516,297.5818,187.1912,653.549,530.05
    Profit After Tax262.6493.9394.0382.2463.59

    Earnings per Equity Share (in Lakhs)

    31-Mar-1831-Mar-1731-Mar-16
    Basic & Diluted6.652.382.53

    From the above statements, one could find that the Sky Gold may perform well.


    Sky Gold Limited IPO – Promoters

    The Promoter of this company are:

    1. Mr. Mangesh Chauhan
    2. Mr. Mahendra Chauhan
    3. Mr. Darshan Chauhan

    List of Related Parties (Key Managerial Personnel)

    • Ms. Disha Shenoy
    • Mr. Surendra Saini
    • Mr. Dilip Huduk
    • Mr. Akash Rawal
    • Mr. Vinesh Mehta
    • Mr. Dina Ram

    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.


    Sky Gold Limited IPO Offer Details or Issue Details

     Particulars No. Of Equity Shares
    Equity Shares Issued: Public  Issue  of  Equity Shares  by  the Company 14,20,000 Equity Shares of Rs. 10 each for cash at a price of Rs. [●] per share aggregating Rs. [●] lakhs
    of which
    Issue  Reserved  for  the  Market Makers 72,000 Equity Shares of Rs. 10 each for cash at a price of Rs. [●] per share aggregating Rs. [●] lakhs
    Net Issue to the Public*13,48,000 Equity Shares of Rs. 10 each for cash at a price of Rs. [●] per share aggregating A [●] lakhs
    Of which
    6,74,000 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
    6,74,000 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 
    39,51,940 Equity Shares Equity Shares of face value of Rs.10/- each
    Equity  Shares  outstanding  after  the
    Issue 
    53,71,940 Equity Shares of face value of  Rs.10/- each

    Sky Gold Limited IPO Issue Object

    These are the IPO Issue Objects of the company

    • Funding the Working Capital requirements of the Company:
    •  General Corporate Purposes

     

    Sky Gold 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:

    • Wide product range.
    • Experienced management and well trained and trustworthy employee base.
    • Strong understanding of customer preference.
    • Established marketing setup.
    • Fully integrated manufacturing facility.
    • Strategic location of manufacturing facility and sales offices..

    The relevant quantitative factors are:

    On the basis of Standalone:-

    Basic & Diluted EPSRONW (%)NAV (Rs.)
    31-Mar-162.539.48
    31-Mar-172.388.65
    31-Mar-186.6519.4834.11
    • Industry P/E:
    ParticularsP/E
    Highest173.6
    Lowest6.1
    Average30.7
    • Competitive Peers:
    Sr. No. ParticularsFace Value  (in Rs.)EPS (In Rs.)P/E RatioRONW (%) NAV (In Rs.)
    1Patdiam Jewellery
    Limtied
    102.2836.952.9567.39
    2Kenvi Jewellery Limited 100.18110.536.5415.82
    3Renaissance Jewellery
    Ltd.
    1016.1919.220.70235.02
    4Sky Gold Limited106.65NA19.4834.11

     

    Sky Gold Limited 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: Mr. Swapnil Ukirde / Ms. Bansri Gosalia
    SEBI Registration No.: INM000011344

    Sky Gold Limited IPO Registrar to offer

    Registrar to the Offer
    LINK INTIME INDIA PRIVATE LIMITED
    C-101, 1st Floor, 247 Park, Lal Bahadur Shastri Marg,
    Vikhroli (West), Mumbai – 400 083
    Tel: +91 – 22 – 4918 6200
    Fax: +91 – 22 – 4918 6195
    Email: skygold.ipo@linkintime.co.in
    Website: www.linkintime.co.in
    Investor Grievance Email: skygold.ipo@linkintime.co.in
    Contact Person: Ms. Shanti Gopalkrishnan
    SEBI Registration No.: INR000004058

    Other Details:

    • Statutory Auditor – M/s. Jain Kishor & Co., Chartered Accountants,
    • Peer Review Auditor -M/s. V. J. Shah & Co., Chartered Accountant.

    Sky Gold Limited IPO Review by Top 10 Stock Brokers

    Top Stock Brokers ReviewCompany ReputationCompetitive EdgeFinancial StatementPopularity IndexPromoters Reputation
    Angel Broking6.5/106.6/106.6/106.4/106.4/10
    Sharekhan6.7/106.4/106.6/106.1/106.2/10
    Kotak Securities6.7/106.7/106.7/106.4/106.3/10
    ICICI Direct6.6/106.3/106.7/106.5/106.5/10
    IIFL6.4/106.7/106.8/106.4/106.7/10
    Edelweiss6.7/106.4/106.4/106.3/106.7/10
    Zerodha6.5/106.4/106.7/106.4/106.5/10
    5Paisa6.7/106.4/106.3/106.7/106.5/10
    Karvy6.8/106.3/106.7/106.4/106.0/10
    Motilal Oswal6.6/106.4/106.6/106.6/106.4/10

    Sky Gold Limited IPO Grey Market Premium

    The Sky Gold 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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      Sky Gold Limited IPO News

      News 1 – IPO ISSUE OPENS SOON (Download Prospectus)

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