Shubhlaxmi Jewel Art Limited IPO
(i) The group derives from Jewellery retailing and wholesaling and has experience of over 40 years in the trade. Jesingbhai branched out into the field of jewellery retailing in the year 1971 by opening its first store in Bhavnagar named Jesingbhai Jewellers and Shubhlaxmi jewellers(Group of Jesingbhai Jewellers). They originally formed as a partnership firm on 13 July 2013 in Gujarat.
(ii) They are engaged in the Retail and Wholesale business of Jewellery made up of from Gold, Diamond and Platinum studded with precious and semi-precious stone. They cater to High-end, Mid-market and value market segment. The ornaments are also made on order basis and same is made by third-party vendors.
(iii) They have a showroom in Bhavnagar which was setup in the year 2013 having the total area of 27000 Sq. Ft. The company is looking to open a manufacturing facility in Bhavnagar to cater to the demand of local customers by 2019 for which the company has taken 962 Sq.ft of land on rent.
(iv) Financial Performance
Revenue was Rs 46.84 Cr, Rs 43.43 Cr, and Rs 47.43 Cr for 2017-18, 2016-17 and 2015-16 respectively.
EBITDA was Rs 2.64 Cr, Rs 2.62 Cr and Rs 2.44 Cr for 2017-18, 2016-17 and 2015-16 respectively.
PAT was Rs 82.43 lakhs, Rs 64.80 lakhs and Rs 36.78 lakhs for 2017-18, 2016-17 and 2015-16 respectively.
Objects of the Shubhlaxmi Jewel Art Limited IPO:
Shubhlaxmi Jewel Art Limited IPO Details:
| Open Date: | Nov 22 2018 |
| Close Date: | Nov 27 2018 |
| Total Shares: | 2,504,000 |
| Face Value: | ₹ 10 Per Equity Share |
| Issue Type: | Fixed Price Issue IPO |
| Issue Size: | 6.26 Cr. |
| Lot Size: | 4000 Shares |
| Issue Price: | ₹ 26 Per Equity Share |
| Listing At: | NSE Emerge |
| Listing Date: | Dec 04 2018 |
Promoters And Management:
Financials of Shubhlaxmi Jewel Art Limited IPO:
| Particulars | For the year/period ended (in Rs Lacs) | ||||
| 31-May-2018 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | |
| Total Assets | 1,773.03 | 1,781.95 | 1,480.17 | 1,543.42 | 1,524.08 |
| Total Revenue | 203.57 | 4,684.91 | 4,343.54 | 4,743.38 | 4,514.00 |
| Profit After Tax | 3.70 | 82.43 | 64.80 | 36.78 | 129.22 |
Recommendation on Shubhlaxmi Jewel Art Limited IPO:
Lead Manager of Shubhlaxmi Jewel Art Limited IPO:
Registrar of Shubhlaxmi Jewel Art Limited IPO:
Company Address:
Bid Details of Shubhlaxmi Jewel Art Limited IPO as on
27-Nov-2018 18:00:00 IST
| Category | No.of shares offered | No. of shares bid |
|---|---|---|
| 1,252,000 | 3,596,000 | |
| 1,252,000 | 6,428,000 | |
| - | - | |
| 2,504,000 | 10,024,000 |
| QIBs | No |
| QIBs+HNIs Subscription | 2.87X |
| Retail Subscription | 5.13X |
| Total Subscription | 4.00X |
Discussion on Shubhlaxmi Jewel Art Limited IPO:
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*Listing deals*
04-Dec-2018 SHUBHLAXMI Shubhlaxmi Jewel Art Ltd KANADIA FYR FYTER PRIVATE LIMITED SELL 92,000 27.10 –
04-Dec-2018 SHUBHLAXMI Shubhlaxmi Jewel Art Ltd MONA BHAVESH GANDHI BUY 80,000 27.10 –
Listing today.
Tomorrow Listing of Equity Shares of Shubhlaxmi Jewel Art Limited (SME IPO)
avoid this company.
Don’t forget Softtech where Pantomath was Leadmanager currently trading at 50% discount.
The company has negligible reserves in the books.
Jewellery sector companies has not perform well in past.
As of March 2018, lets us check leverage and liquidity position.
The Company has debt( Long-term and Short-term) is 8.67 Cr against an equity of 5.54 Cr. So D/E is 1.56( High).
Current Ratio of 1.79 ( Manageable)
Conclusion: The company has a high debt based on the March 2018 figure. However, after IPO the D/E would be less than 1.
The company is basically a Trading company who deals in Jewellery items made up from Gold, Diamond and Platinum. So no moat in the business.
Last 3 years Average EPS is 1.05. On that basis, the asking P/E is 24.76.
Pantamass is best LM