Utssav Cz Gold Jewels Limited IPO Details
| Detail | Description |
|---|---|
| IPO Date | July 31, 2024 to August 2, 2024 |
| Listing Date | - |
| Face Value | ₹ 10 per share |
| Price Band | ₹ 104 to ₹ 110 per share |
| Lot Size | 1,200 Shares |
| Total Issue Size | 63,18,000 shares (aggregating up to ₹ 69.50 Cr) |
| Fresh Issue | 63,18,000 shares (aggregating up to ₹ 69.50 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 1,75,00,000 |
| Shareholding post issue | 2,38,18,000 |
| Market Maker portion | 3,18,000 shares |
About Utssav Cz Gold Jewels Limited IPO
Utssav Cz Gold Jewels is in the business of designing, manufacturing, wholesaling, and exporting 18Karat 20Karat, and 22Karat CZ Gold jewellery. The Company specializes in the lightweight production of cubic zirconia (CZ) gold and rose gold casting jewellery. They manufacture and offer a wide collection of products such as Rings, Earrings, Pendants, Bracelets Necklaces, Watches, and Broaches, etc.
Their forte lies in crafting exquisite CZ-casting gold jewellery and designer pieces, tailored to the preferences of today’s youth. Whether for daily wear or special occasions, their designed rings, earrings, pendants, bracelets, and necklaces resonate with their target audience. Utssav Cz Gold Jewels IPO is a book-built issue of Rs 69.50 crores. The issue is entirely a fresh issue of 63.18 lakh shares. Utssav Cz Gold Jewels IPO opens for subscription on July 31, 2024, and closes on August 2, 2024. Utssav Cz Gold Jewels IPO price band is set at ₹104 to ₹110 per share. The minimum lot size for an application is 1200 Shares. Choice Capital Advisors Pvt Ltd is the book running lead manager of the Utssav Cz Gold Jewels IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Utssav Cz Gold Jewels IPO is Choice Equity Broking.
Utssav Cz Gold Jewels IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Company & Financials
Incorporated in November 2007, Utssav Cz Gold Jewels Limited designs, manufactures, wholesales, and exports 18Karat, 20Karat, and 22Karat CZ Gold jewellery. The company makes and sells a wide range of products, including rings, earrings, pendants, bracelets, necklaces, watches, and brooches. The company's manufacturing facility in Andheri East, Mumbai, covers 8,275 square feet and produces a variety of jewellery with a capacity of 1,500 kg per annum. The company's customers are in 17 states and 2 union territories in India, as well as 2 countries abroad. The company offers a wide range of lightweight jewellery in 18K, 20K, and 22K CZ gold and rose gold categories, popular for daily and fashion wear. These include traditional and contemporary designs at various price points to match consumer preferences. In the 2023 financial year, the 18K and 22K gold jewellery categories accounted for 73.27% and 24.94% of total sales, and in the ten months ending January 31, 2024, they were 74.22% and 24.67% respectively. The company, with 15 CAD designers, develops about 400 designs monthly to stay ahead of market trends and meet customer demands.
Objectives of Utssav Cz Gold Jewels Limited IPO
The net proceeds are proposed to be utilised for the following objectives:
- 1. Funding Working Capital requirement of the company
- 2. General Corporate Purpose
Utssav Cz Gold Jewels IPO Review
The company is engaged in the business of designing, manufacturing, wholesaling and exporting 18Karat 20Karat and 22Karat CZ Gold jewellery. This segment is highly competitive and fragmented. Though the company has given financial data till January 31`, 2024, its basis of offer price data is based on March 31, 2023 data. This is indicating many lapses on the part of LM/Company in maintaining transparency. Why one should subscribe to such an IPO, which is missing the latest info? The company issued a private placement in April 2024 for Rs. 82.50 per share, but the IPO has a price band of Rs. 104 - Rs. 110. There is no harm in skipping such High Risk/Low Return” bet.
Utssav Cz Gold Jewels Limited IPO Financial Information
Latest Revenue
27,733.20
₹ Crore
Profit After Tax
1,073.76
₹ Crore
Net Worth
3,311.00
₹ Crore
Total Borrowing
7,703.16
₹ Crore
| Period Ended | Assets | Revenue From Operations | Profit After Tax | Net Worth | Total Borrowing | ||||
|---|---|---|---|---|---|---|---|---|---|
| 31 Jan 2024 | 12,333.33 | 27,733.20 | 1,073.76 | 3,311.00 | 7,703.16 | ||||
| 31 Mar 2023 | 8,215.83 | 23,971.52 | 714.96 | 2,237.24 | 4,966.02 | ||||
| 31 Mar 2022 | 5,616.49 | 12,342.53 | 333.95 | 1,509.33 | 3,601.97 | ||||
| 31 Mar 2021 | 4,423.40 | 12,030.66 | 161.87 | 1,175.38 | 3,016.08 | ||||
| Amount in ₹ Crore | |||||||||
Utssav Cz Gold Jewels Limited Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 38.71% |
| ROCE | 20.43% |
| Debt/Equity | 2.33 |
| RoNW | 38.71% |
| P/BV | 5.58 |
| PAT Margin (%) | 3.89 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.09 | 5.41 |
| P/E (x) | 26.92 | 20.33 |
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Competitive Strengths
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Utssav Cz Gold Jewels Limited IPO Timeline
| IPO Open Date | Wednesday, July 31, 2024 |
| IPO Close Date | Friday, August 2, 2024 |
| Basis of Allotment | Monday, August 5, 2024 |
| Initiation of Refunds | Tuesday, August 6, 2024 |
| Credit of Shares to Demat | Tuesday, August 6, 2024 |
| Listing Date | Wednesday, August 7, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 2, 2024 |
IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹132,000 |
| Retail (Max) | 1 | 1200 | ₹132,000 |
| HNI (Min) | 2 | 2400 | ₹264,000 |