Palm Jewels Limited IPO

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Palm Jewels Limited was originally incorporated as Shilvi Jewels Private Limited on September 22, 2005. The name of the company was changed to “Palm Jewels Private Limited” on October 28, 2016.
The Founder promoter of our Company Mr. Rohit Dalpatbhai Shah is in the business of jwellery Industries since 20 years, he with his wife has incorporated Company Shilvi Jewels Private Limited on September 22, 2005 under the Companies Act, 1956 vide certificate of incorporation issued by the Registrar of Companies, Gujarat, Dadra, and Nagar Havelli, Subsequently, the name of our Company was changed to Palm Jewels Private Limited on October 28, 2016 under the companies Act, 2013 vide a new Certificate of incorporation issue by Registrar of Companies, Gujarat, Dadra and Nagar Havelli, then after our company was converted in to a public limited company and consequently name was changed to “Palm Jewels Limited” (PJL) vide fresh certificate of incorporation dated February 21, 2018 issued by Registrar of Companies, Gujarat, Dadra and Nagar Havelli.
Palm Jewels Limited is engaged in the wholesale business of gold jewellery. Our registered office and business operation are based in Ahmedabad. We essentially sell gold based chains, bracelets, and necklaces. We outsource the manufacturing of our jewellery through job workers based in Ahmedabad. The major raw material used for making our products is gold & silver. We procure gold & silver majorly through the bullion market and partially from the local markets in Ahmedabad. Gold bars and other Necessary Material are provided to Job Workers Who are based either in Ahmedabad. However, no formal agreement has been executed with either of these job workers. The finished jewellery is sold by our marketing and sales team directly to other jewellery stores. Our jewellery is widely sold throughout Gujarat only through B2B marketing and/ or Direct/Outbound marketing strategy.
We are a customer-centric company, our prime focus is to attain the utmost client satisfaction by offering them quality assured products. Moreover, our ethical trade practices, transparent business dealings and timely delivery of products help us in maintaining cordial relations with our customers. Our Company strives at all times to provide products that offer our customers the designs with superior finish and quality.

Palm Jewels Limited IPO Stock Quote & Charts

28.05

-6.50%

  • Open: 28.05
  • High - Low: 28.05 - 28.05
  • Previous Close: 30.00
  • Total Traded Volume: 4000
  • Updated On: 07-Dec-2018

Objects of the Palm Jewels Limited IPO:

Objective of

Palm Jewels Limited IPO

are: 1. To meet the working capital requirement 2. To meet the expenses of the Issue

Palm Jewels Limited IPO Details:

Open Date: May 25 2018
Close Date: Jun 04 2018
Total Shares: 29,68,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue IPO
Issue Size: 8.904 Cr.
Lot Size: 4000 Shares
Issue Price: ₹ 30 Per Equity Share
Listing At: BSE SME
Listing Date: Jun 11 2018

Promoters And Management:

Promoters of Palm Jewels Limited Company are: Mr. Rohit D. Shah, aged 46 years aged 46 years, is the Promoter and Managing Director of our company. He has completed his Diploma in Pharmacy from Gujarat University. Post his education, he was undergone internship for 1 year and then he has started the business of Medical Store in the year 1989 and continued it till 1996. Thereafter under the guidance of his Uncle, he has learnt the jewellery business and started his own Proprietary Firm under the name of M/s. Jain Ornaments in the year 1998. Further with the bigger vision in the jewellery industries, he and his wife incorporated our company in the year of 2005. Since then he has been instrumental in formulating and the implementation of the business strategies of our company and he is entrusted with the responsibility of looking after the expansion, overall management and operations of the company. Mrs. Chetna R. Shah, aged 44 years is the Promoter and Non-Executive Director of our Company. She has done her matriculation. She has more than 13 years of experience in this business. She is promoter director of our company since incorporation and has been designated as Non-Executive Director of w.e.f. 4/02/2018

Financials of Palm Jewels Limited IPO:

Particulars For the year/period ended (in Rs. Lacs)
28-Feb-2018 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14
Total Assets 609.44 163.08 36.62 35.93 34.87
Total Revenue 1,975.45 552.38 157.48 97.91 41.63
Profit After Tax 44.41 1.54 0.53 (0.35) 0.19

Recommendation on Palm Jewels Limited IPO:

Review and Recommendation of

Palm Jewels Limited IPO

from our side is: Rating: 0/10 1-5: Fair 5-7: Good 7-10: Excellent

Lead Manager of Palm Jewels Limited IPO:

  1. First Overseas Capital Limited

Registrar of Palm Jewels Limited IPO:

  1. Karvy Computershare Private Limited

Company Address:

Palm Jewels Limited G.F-37, Super Mall, Nr. Diamond, C. O. Hou. Soc. Ltd, Nr. Lal Bunglow, C. G. Road, Ahmedabad – 380001, Gujarat, India Phone No.: +91 79 40052056 Email: compliance.pjl@gmail.com Website: www.palmjewels.com;

Bid Details of Palm Jewels Limited IPO as on
04 Jun 2018 | 11:54:02 PM

Category No.of shares offered No. of shares bid
1,484,000 1,152,000
1,484,000 2,112,000
- -
2,968,000 3,264,000
QIBs No
QIBs+HNIs Subscription 0.78X
Retail Subscription 1.42X
Total Subscription 1.10X

Discussion on Palm Jewels Limited IPO:

    Sales have grown almost 5 times just before IPO which is quite surprising and looks manipulated.

    As per Profit and Loss statement , the company has no employee cost in 2013, 2014, 2015 , 2016 and 2017. Just name one company on this planet that doesn’t have employee cost. Full on farzi companies are coming specially on BSE SME platform to loot investor money.

    The Company’s “Cost of material Consumed” is higher that Revenue which shows that company’s sales are poor.

    After U.H listing ,
    Think thrice and apply.
    And further don’t even dare to apply if any Grey Market activity seen in future.
    3rd class LM repo…

    From my side clean A V O I D