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Sona Hi Sona Jewellers IPO Dates, Size, Allotment, Subscription & more

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. 

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Sona Hi Sona Jewellers IPO Review & Ratings

IPO Ratings & Review
Criteria Ratings
Industry Sentiments 7.5/10
Industry Ranking 7.1/10
Company Background 7.3/10
Company Reputation 7.2/10
Competitive Edge 7.7/10
Financial Statements 7.1/10
Popularity Index 7.4/10
Promoters Reputation 7.7/10
Retail Appetite 7.1/10
Top Brokers Review 7.9/10
Overall Ratings 7.4/10
Star Ratings ★★★★☆

Summary of Sona Hi Sona Jewellers IPO

Sona Hi Sona Jewellers IPOCompany 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)  
31-Mar-19 31-Mar-18 31-Mar-17
Total Assets 2224.40 2,230.88 1,220.15
Total Revenue 6717.98 5,903.26 5,448.10
Total Expense 6664.96 5,860.07 5,438.82
Profit After Tax 38.86 18.65 6.18

Earnings per Equity Share (in lakhs)

31-Mar-19 31-Mar-18 31-Mar-17 31-Mar-16
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.

Property Interest

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
 Of which:
 Reserved for Market Makers  2,40,000Equity Shares
 Net Issue to the Public  42,60,000Equity Shares
 Of which:
 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.)
Mar-19 0.53 3.98% 13.41
Mar-18 0.26 1.99% 10.00
31-Mar-17 0.77 1.33%
Mar-16 1.72 10.07 %
  • Price to Earnings (P/E) ratio in relation to Issue Price of Rs.18.75:
Particulars P/E ratio
Highest 4.57
Average 232.50
Lowest 110.51

 


Sona Hi Sona Jewellers IPO Lead Managers

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: : www.fedsec.inContact Person: Rinkesh SaraiyaSEBI Registration Number: INM000010163Investor Grievance E-mail:

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::www.linkintime.co.inContact Person:Shanti GopalkrishnanSEBI Registration Number:INR000004058Investor Grievance E-mail:


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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