Let’s have a detailed review of the company and analytics of the Sona Hi Sona Jewellers IPO release date, IPO offer price, subscription, Sona Hi Sona Jewellers IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters, and other related things.
Sona Hi Sona Jewellers IPO Review & Ratings
|IPO Ratings & Review|
|Top Brokers Review||7.9/10|
Summary of Sona Hi Sona Jewellers IPO
Company is into Job Work and Trading Business of Gold Jewellery and Ornaments.Our Company gets the job work done from outside for its own designs. However,our company does not perform any job work activity for other companies.
The Product Collection list includes Gold Jewellery with or without studded precious and semi-precious stones. Our Company offers our customers a broad variety of Gold Jewellery in order to cater to regional tastes. We also customizeJewellery on individual basis.
Their designing and job work of our products is done either in house or by third parties on job work basis.Apart from our own Jewellery we are also dealing in wholesale trading of branded Jewellery. We also deal in Real Diamond and Silver Jewellery and Ornaments. To reach up to the utmost customer satisfaction level, we design jewelleries as per the Customer preference(s).
The Promoters of this company are VIJAY SHAH AND ALPABEN SHAH. The lead manager to the issue is FEDEX SECURITIES PRIVATE LIMITED and the Registrar to this issue is LINK INTIME INDIA PRIVATE LIMITED.
From FY 2016-17 to FY 2018-19, as per the Restated Financial Statements
In the past 3 years, Total Revenue from operations of our Company was Rs.5448.10 Lakhs in F.Y. 2016-17, Rs.5903.26 Lakhs in F.Y. 2017–18 & Rs.. 6717.98 Lakhs in F.Y. 2018-19 reflecting Net Profit after tax for the above –mentioned periods as Rs.6.18 lakhs, Rs.18.65 Lakhs and Rs.38.86 Lakhs respectively.
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Sona Hi Sona Jewellers IPO Date
The opening and the closing date of Sona Hi Sona Jewellers IPO is Sep 30, 2019 – Oct 4, 2019.
Sona Hi Sona Jewellers IPO Subscription
|Day / Date||NII||RII||Total Subscription|
|1st Day – Sep 30||0.12x||0.01x||0.06x|
|2nd Day – Oct 1||1.00x||0.05x||0.53x|
|3rd Day – Oct 3||1.00x||0.08x||0.56x|
|4th Day – Oct 4|
|Shares Offered or Net Issue||2,130,000||2,130,000||4,260,000|
The shares subscribed by the public will be updated here.
Sona Hi Sona Jewellers IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
|Basis of Allotment Finalization||Oct 10, 2019|
|Refunds Initiation||Oct 11, 2019|
|Credit of Shares to Demat Account||Oct 14, 2019|
|Share Listing Date||Oct 15, 2019|
Sona Hi Sona Jewellers IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is Sep 30, 2019 – Oct 4, 2019.
Sona Hi Sona Jewellers IPO Equity Share Offering
Initial Public Issue of 45,00,000 Equity Shares of face value of Rs. 10/-each for cash at a price of Rs. 10/-per equity share aggregating to Rs. 450 Lakhs by our Company.
The Issue (excluding the Market Maker Reservation Portion) of 42,60,000 Equity Shares of face value of Rs. 10 each fully paid up of our Company for cash at a price of Rs. 10/-per Equity Share (the issue price) aggregating to Rs. 426Lakhs
Sona Hi Sona Jewellers – Company Overview
The Founder of our Company, Vijay Shah, had started a Proprietorship Concern in the name of M/s. Sona Hi Sona way back in 2000. The Proprietorship, then, was engaged in the business of Jewellery. He has been actively involvedin the business of Jewellery since 2001 and with a vision to expand his business further.
Vijay Shah and Alpaben Shah were the subscribers to the Memorandum of Association and are Promoters and Directors of our Company since Incorporation. Our Company runs its operation from Millenium Plaza, Vastrapur, Ahmedabad, a market known for bullion and Jewellery and is operating from the same Registered office since incorporation.
Our Promoters Vijay Shah and Alpaben Shah have around 18 years and 7 years of experience, respectively in Gold and Jewellery industry and with their business notions, knowledge and management skills, we have served our customers.
The Company has three brands (i) Sona Hi Sona (ii) Freya (iii) Jinanshof which we mainly operatethrough its two known brands*, viz., Freya and Jinansh. Under Brand Freya, we deal in antique Jewellery & ornaments and under Brand Jinansh, we deal with American Diamond (AD) Jewellery, therein.
Sona Hi Sona Jewellers – 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 of Sona Hi Sona Jewellers IPO
On the basis of Standalone statement:-
|Amount (in INR & lakhs)|
|Profit After Tax||38.86||18.65||6.18|
Earnings per Equity Share (in lakhs)
|Basic & Diluted||0.53||0.26||0.77||0.72|
From the above statements, one could find that Sona Hi Sona Jewellers may perform well.
Sona Hi Sona Jewellers IPO – Promoters
The Promoter of this company is:
- VIJAY SHAH
- ALPABEN SHAH
List of Related Parties (Key Managerial Personnel)
- Jayesh Chinubhai Shah
- Rupal Jayeshbhai Shah
- Devilaben Chinubhai Shah
- Sonalben Pareshkumar Shah
Interest in promotion of the Company
The Key Managerial Personnel of the Company have interest in the Company to the extent of the remuneration or benefits to which they are entitled to as per their terms of appointment and reimbursement of expenses incurred by them during the ordinary course of business and to the extent of Equity Shares held by them in the Company, if any and dividends payable thereon, if any.
Directors have not entered into any contract, agreement or arrangements in which the Directors are interested directly or indirectly and no payments have been made to them in respect of these contracts, agreements or arrangements or are proposed to be made to them.
Interest in Intellectual Rights of the Company
As on the date of filing of the Draft Red Herring Prospectus, the Company does not own any intellectual property rights.
Sona Hi Sona Jewellers IPO Offer Details or Issue Details
|Particulars||No. Of Equity Shares|
|Equity Shares Offered||45,00,000Equity Shares of face value Rs 10 each fully paid up for at an Issue Price of Rs 10/-each aggregating to Rs 450.00Lakhs|
|Reserved for Market Makers||2,40,000Equity Shares|
|Net Issue to the Public||42,60,000Equity Shares|
|Retail Investors Portion||21,30,000Equity Shares|
|Non-Retail Investors Portion||21,30,000 Equity Shares|
|Equity Shares outstanding prior to the Issue||1,22,85,350 Equity Shares|
|Equity Shares outstanding after the Issue||1,67,85,350 Equity Shares|
Sona Hi Sona Jewellers IPO Issue Object
These are the IPO Issue Objects of the company
- Meeting incremental working capital requirements;
- General corporate purposes
Sona Hi Sona Jewellers 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:
- Multidisciplinary Engineering Approach;
- Strong Execution Capabilities;
- Experience Management and technical execution Team;
- Quality Assurance;
- Locational Advantage;
- Clients Retention
The relevant quantitative factors are:
On the basis of standalone statement:-
|Basic & Diluted EPS||RONW||NAV (Rs.)|
- Price to Earnings (P/E) ratio in relation to Issue Price of Rs.18.75:
Sona Hi Sona Jewellers IPO Lead Managers
|FEDEX SECURITIES PRIVATE LIMITED
305, Enterprise Centre, Nehru Road, Vile Parle (East), Mumbai-400099, Maharashtra, India Tel No.: +91 81049 85249Fax No.: 022 2618 6966E-mail: [email protected]: www.fedsec.inContact Person: Rinkesh SaraiyaSEBI Registration Number: INM000010163Investor Grievance E-mail: [email protected]
Sona Hi Sona Jewellers 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 400083, Maharashtra, India.Tel No:022 -4918 6200Fax No:022 -49186195Email id:[email protected]:www.linkintime.co.inContact Person:Shanti GopalkrishnanSEBI Registration Number:INR000004058Investor Grievance E-mail: [email protected]
Sona Hi Sona Jewellers IPO Other Details:
- Statutory Auditor – M/s Dipesh Chokshi & Co.Chartered Accountants
- Peer Review Auditor – Bhagat& Co
- Bankers to the Company – ICICI BANK LIMITED
Sona Hi Sona Jewellers IPO Grey Market Premium
The Sona Hi Sona Jewellers IPO Grey Market Premium price is Rs NIL, the Kostak rate is Rs X and the Subject to Sauda is X.
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Sona Hi Sona Jewellers IPO News
News 1 – Download RHP Prospectus
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