Ongoing SME IPO_ Palm Jewels Limited IPO

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Palm Jewels Limited IPO

 

Issue Analysis :

Issue opens May 25, 2018
Issue Closes Jun 4, 2018
Issue Price Rs 30
Lot Size 4000
Issue Size 8.90 Cr
Lead Manager FIRST OVERSEAS CAPITAL LIMITED
Registrar KARVY COMPUTERSHARE PRIVATE LIMITED
Platform BSE

 

Company’s Snapshot :

Incorporated in 2005, Gujarat based Palm Jewels Limited is a company engaged in the wholesale business of gold jewelry. The company sells gold based chains, bracelets, and necklaces. It outsources the manufacturing of the jewelry through job workers based in Ahmedabad and Mumbai. The major raw material used for making the products is gold & silver. Gold bars and other necessary material are provided to the job workers who are based either in Ahmedabad and Mumbai.

The finished jewelry is sold by the company’s marketing and sales team directly to other jewelry stores. The jewelry is widely sold throughout Gujarat only through B2B marketing and/ or Direct/Outbound marketing strategy. Some of the major customers include M/s. Zaverat, Mehta Ornaments Private Limited, Shah Chinubhai Ramniklal Co., and Shubhlaxmi Jewellers, etc.

Palm Jewels currently has 11 employees on its payroll.

 

Object of the Issue :

The Objects of the Issue are-

  1. To meet the working capital requirement; and
  2. To meet the expenses of the Issue

 

Financial Highlights :

 

Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. Lakhs)
31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 163.08 36.62 35.93 34.87 33.54
Total Revenue 552.38 157.48 97.91 41.63 118.89
Profit After Tax 1.54 0.53 (0.35) 0.19 0.14

 

Company Promoters:

The Promoters of the Company are Mr. Rohit D. Shah and Mr. Chetna R. Shah. They together hold 42,00,767 Equity Shares having a face value of Rs. 10 per share and representing 95.15% of the pre-issue Paid-up Capital of the Company.

 

Contact Company Information:

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: +91 79 40052056
Email: compliance.pjl@gmail.com
Website: http://www.palmjewels.com

 

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