Shoora Designs Limited IPO

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i. Shoora Designs is engaged in the business of procuring rough diamonds through suppliers, internally planning and mapping rough diamonds, and is out-souring the process of cleaving, laser cutting, and polishing from local job-workers in the domestic market of Surat, and is selling of the said polished cut-diamonds to the wholesalers or retailers with business concentration pre-dominantly in Surat, Gujarat, and the newly-explored market of Mumbai, Maharashtra. A substantial majority of our cut and polished diamonds are sold to diamond wholesalers and the jewellery manufacturers in the domestic market of Surat and Mumbai.

ii. The revenue from sale of the diamonds is generated through offline market, and through their online platform accessible at The online market facilitates and provides the customers with an option to browse variety of diamonds through its catalogue. This catalogue also provides the customers with the price data for each of the products, which thus enables the targeted investor to make a well-informed decisions.


i. Procurement of Rough Diamonds
ii. Assortment of Rough Diamonds
iii. Quality check
iv. Security
v. Sorting and Processing
vi. Polishing
vii. Sales and Track Order
viii. Maintaining stock register


i. Existing distribution and sales networks
ii. Optimum Polishing
iii. Repetitive customers
iv. Experience of Management.

Objects of the Shoora Designs Limited IPO:

Our Company proposes to utilize the Net Proceeds from the Fresh Issue towards working capital requirements and general corporate purposes. Further, the proceeds from the Fresh Issue will also be used towards meeting the expenses in relation to the Issue.

Shoora Designs Limited IPO Details:

Open Date: Aug 17 2023
Close Date: Aug 21 2023
Total Shares: 423000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Issue
Issue Size: 2.03 Cr.
Lot Size: 3000 Shares
Issue Price: ₹ 48 Per Equity Share
Listing At: BSE SME
Listing Date: Aug 29 2023

Promoters And Management:

i. Mr. Satish K Kansodariya is the Promoter, Chairman and Managing Director of the Company. He is undergraduate. He has been in the industry for more than a decade and has experience in Finance and Jewelry Sector. He is associated with the Company since inception. ii. Mr. Rajeshbhai Labhubhai Mer is the Promoter and Whole Time Director of the Company. He is undergraduate. He has more than 10 (Ten) years of experience in Gems and Jewelry Sector. He is associated with the Company since June 30, 2021. He handles day to day operations and is involved in handling Marketing activities of the Company. He is appointed as a Director on the Board of the Company on July 23, 2022. iii. Mrs. Sejalben Satish Kansodariya is the Promoter and Non-Executive Director of the Company. She is undergraduate. She has several years of experience in Gems and Jewelry Sector. She is associated with the Company since June 30, 2021 and appointed as a director from July 01, 2022.

Financials of Shoora Designs Limited IPO:

Pariculares ( In Lakhs )
Revenue from Operations 0 16 211
Other Income 0 0 0.01
Total Revenue 0 16 211
Cost of Materials Consumed 0 0 105
Purchase of Stock in Trade 0 10 97
Change in Inventories 0 0 -39
Employee Benefits Expense 0 0 5
Other Expenses 0 0.9 25
EBITDA -0.5 5 16
Depreciation & Amortisation 0 0.06 0.7
Finance Cost 0 0.02 0.2
EBIT -0.5 5 16
OPM (%) 0.00% 31.97% 7.80%
PBT -1 5 16
Tax 0 1 4
PAT -1 4 11
NPM (%) 0.00% 24.07% 5.44%
No.of Shares 14.98 14.98 14.98
EPS -0.03 0.26 0.76

Comparison With Peers:

Name of the Company Revenue (In Crore) PAT (In Crore) EPS ( in Rs) P/E CMP Mcap (In Crore)
Shoora Designs Limited 2 0.11 0.76 62.8 48 7
Ashapuri Gold Ornament Limited 158 2 0.07 148 10.6 264
D.P. Abhushan Limited 1,975 45 20.36 17.9 365 813
Starlineps Enterprises Limited 20 0.61 0.14 541 108 466
Veeram Securities Limited 19 1.79 0.24 25.3 8.65 65
* All the Data as per FY23.

Recommendation on Shoora Designs Limited IPO:

Review and Recommendation of Shoora Designs Limited by IZ team is 2/10 (i) The company procures rough diamonds from suppliers.They do cleaving, laser cutting, and polishing are outsourced to local job-workers in Surat.The polished cut-diamonds are sold to wholesalers or retailers. (ii) Business is predominantly concentrated in Surat, Gujarat. They have also explored the market in Mumbai, Maharashtra. (iii) The company lacks a business moat. (iv) Operations started in FY20-21. (v) There's no track record available to assess performance or make investment decision

Lead Manager of Shoora Designs Limited IPO:

  1. Swaraj Shares and Securities Private Limited

Registrar of Shoora Designs Limited IPO:

  1. Kfin Technology Private Limited

Company Address:

Diamond Apartments Co-op Housing Society, LT H No. 7/3388/A, 6th floor, C/1, 601, Haththupura char rasta, Surat – 395003, Gujarat, India

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