Silgo Retail Limited IPO

Apply 0
Avoid 1

(i) Silgo Retail Limited is engaged in the business of designing, manufacturing, retailing and Wholesaling of silver jewelry. They deal in silver jewellery and offer a wide variety of designs to suit the preferences of the end customers. With a regional diversity of tastes and preferences, They have diverse portfolio of ornaments and jewellery to suit the taste and preferences of one & all and accordingly They have developed an ability to design our jewellery products as per latest trends, fashion and demographic preference of the end customers.

(ii) Their products include silver jewelry with a varied range of designs. Their product portfolio includes rings, earrings, bracelets, necklaces, jhumki, bangles and customized jewelry based on customer demand. They mainly deal in silver jewellery. Their online products are hallmarked jewelry certified by BIS. Every jewelry made at there company is cast in 925 sterling sliver. They offer a wide range of products in silver jewelry for special occasions such as weddings and festivals to daily wear jewellery for all ages, genders and across various price points.

(iii)They have a dedicated and efficient design team, focused on developing new products and designs that meet customers’ requirements using the latest 3D Computer-Aided Designing (CAD) Software. Their designers focus on developing new products and designs that meet customers’ needs as per their specifications. Their designers are skilled in CAD and are up-to-date with the latest trends and fashion in the market and constantly provide designs for new ornaments regularly.

(iv)The Company revenue from operations for the financial year ending 2017-18 and 2016-17 was A 1,646.51 lakhs and A 497.62 lakhs respectively. Our Net Profit after tax for the above mentioned periods i.e. in the last 2 years was A 94.75 lakhs in F. Y. 2017-18 and A 18.15 lakhs in F. Y. 2016-17.

Silgo Retail Limited IPO Stock Quote & Charts

36.05

-0.55%

  • Open: 36.25
  • High - Low: 36.25 - 36.05
  • Previous Close: 36.25
  • Total Traded Volume: 285000
  • Updated On: 17-Oct-2018

Objects of the Silgo Retail Limited IPO:

Objective of Silgo Retail Limited IPO are: 1. Funding Long-Term Working Capital Requirements 2. Funding Expenditure for General Corporate Purposes

Silgo Retail Limited IPO Details:

Open Date: Sep 27 2018
Close Date: Oct 03 2018
Total Shares: 1,356,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue IPO
Lot Size: 3000 Shares
Issue Price: ₹ 36 Per Equity Share
Listing At: NSE Emerge
Listing Date: Oct 10 2018

Promoters And Management:

Promoters of Silgo Retail Limited Company are: Mr. Nitin Jain, aged 43 years, is the Managing Director of our Company. He has completed his graduation in B.Com from University of Rajasthan. He started his career in the line of jewellery since 1995. He has over two decades of experience in this line of business. He is one of the founding members of our Company. Being Managing Director of our Company, he is responsible for overall growth, strategy and day to day management and business activities of our Company. Mrs. Bela Agrawal, aged 44 years, is the Chairperson and Whole-time Director of our Company. She has completed her Bachelors in Fine Arts from the University Of Rajasthan. Along with Mr. Nitin Jain, she is also the founding member of our Company. She was the mastermind behind the women-centric initiative “Dyuti” started by the Company, which is a member – referral jewelry merchandising program. Currently, she is involved in administration and managing, acquiring and expanding the business. She is involved in the day to day management of our Company and she is responsible for the overall growth and strategy of our Company

Financials of Silgo Retail Limited IPO:

Particulars For the year/period ended (in Rs Lacs)
31-Mar-2018 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14
Total Assets 902.56 244.23 1.16 -- --
Total Revenue 1,646.51 497.62 -- -- --
Profit After Tax 94.75 18.15 -- -- --

Recommendation on Silgo Retail Limited IPO:

Review and Recommendation of Silgo Retail Limited IPO from our side is:2/10 [Another Jewelry company is on offer. The company has only two-year financial data. Reminds me of U.H Zaveri. The issue is fully priced]

Lead Manager of Silgo Retail Limited IPO:

  1. Aryaman Financial Services Limited

Registrar of Silgo Retail Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

Silgo Retail Limited B–11, Mahalaxmi Nagar, Jawahar Lal Nehru Marg, Jaipur, Rajasthan– 302 017 Phone No.: +91-0141-4919655 Email: info@silgo.in Website: www.silgo.in

25th Sep 2018 - 27th Sep 2018 => Aavas Financiers IPO

Bid Details of Silgo Retail Limited IPO as on
03-Oct-2018 17:00:00 IST

Category No.of shares offered No. of shares bid
642,000 1,260,000
642,000 321,000
72,000 72,000
1,356,000 1,653,000
QIBs No
QIBs+HNIs Subscription 1.96X
Retail Subscription 0.50X
Total Subscription 1.23X

Discussion on Silgo Retail Limited IPO:

    1. Another Jewelry Company.
    2. Just formed 2 years back with very less financial data to analyze.
    3. Profit Jump from 18 lakh in F17 to 94 Lakh in FY18( Surprising).
    4. Be careful as September is closing, so many such bad companies will come to loot investors.

    EPS Story as on FY18 Financial( Pre-Issue)
    1. PAT= 94 Lkah
    2. Outstanding Shares=37.10 Lakh
    3. EPS= 2.53

    EPS Story as on FY18 Financial( Post-Issue)
    1. PAT= 94 Lkah
    2. Outstanding Shares=50.66 Lakh
    3. EPS= 1.855
    4. P/E= 19.40

    Conclusion: The Company formed in 2016 and come up with an IPO at such valuation.