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. 


Sona Hi Sona Jewellers IPO Review & Ratings

IPO Ratings & Review
CriteriaRatings
Industry Sentiments7.5/10
Industry Ranking7.1/10
Company Background7.3/10
Company Reputation7.2/10
Competitive Edge7.7/10
Financial Statements7.1/10
Popularity Index7.4/10
Promoters Reputation7.7/10
Retail Appetite7.1/10
Top Brokers Review7.9/10
Overall Ratings7.4/10
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 / DateNIIRIITotal Subscription
    1st Day – Sep 300.12x0.01x0.06x
    2nd Day – Oct 11.00x0.05x0.53x
    3rd Day – Oct 31.00x0.08x0.56x
    4th Day – Oct 4
    Shares Offered or Net Issue2,130,0002,130,0004,260,000

    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 FinalizationOct 10, 2019
    Refunds InitiationOct 11, 2019
    Credit of Shares to Demat AccountOct 14, 2019
    Share Listing DateOct 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 Rs. 10.


    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-1931-Mar-1831-Mar-17
    Total Assets2224.402,230.881,220.15
    Total Revenue6717.985,903.265,448.10
    Total Expense6664.965,860.075,438.82
    Profit After Tax38.8618.656.18

    Earnings per Equity Share (in lakhs)

    31-Mar-1931-Mar-1831-Mar-1731-Mar-16
    Basic & Diluted0.530.260.770.72

    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 Portion21,30,000 Equity Shares
     Equity Shares outstanding prior to the Issue1,22,85,350 Equity Shares
     Equity Shares outstanding after the Issue1,67,85,350 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 EPSRONW NAV (Rs.)
    Mar-190.533.98%13.41
    Mar-180.261.99%10.00
    31-Mar-170.771.33%
    Mar-161.7210.07 %
    • Price to Earnings (P/E) ratio in relation to Issue Price of Rs.18.75:
    ParticularsP/E ratio
    Highest4.57
    Average232.50
    Lowest110.51

     


    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: mb@fedsec.inWebsite: www.fedsec.inContact Person: Rinkesh SaraiyaSEBI Registration Number: INM000010163Investor Grievance E-mail: mb@fedsec.in

    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:sonahisona.ipo@linkintime.co.inWebsite:www.linkintime.co.inContact Person:Shanti GopalkrishnanSEBI Registration Number:INR000004058Investor Grievance E-mail: sonahisona.ipo@linkintime.co.in


    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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