The issue is entirely a fresh issue of 63.18 lakh shares. Utssav Cz Gold Jewels IPO is a book built issue of Rs 69.50 crores.
Utssav Cz Gold Jewels IPO opens for subscription on July 31, 2024 and closes on August 2, 2024. The allotment for the Utssav Cz Gold Jewels IPO is expected to be finalized on Monday, August 5, 2024. Utssav Cz Gold Jewels IPO will list on NSE SME with tentative listing date fixed as Wednesday, August 7, 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. The minimum amount of investment required by retail investors is ₹132,000. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹264,000.
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.
About Utssav Cz Gold Jewels Limited
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 jewelry 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.
As of March 31, 2024, the company has 69 permanent employees on its payroll.
Refer to Utssav Cz Gold Jewels IPO RHP for detailed information.
Utssav Cz Gold Jewels IPO Details
| 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 | 1200 Shares |
| Total Issue Size | 6,318,000 shares(aggregating up to ₹69.50 Cr) |
| Fresh Issue | 6,318,000 shares(aggregating up to ₹69.50 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 17,500,000 |
| Share holding post issue | 23,818,000 |
| Market Maker portion | 318,000 shares |
Utssav Cz Gold Jewels IPO Reservation
Utssav Cz Gold Jewels IPO offers 6,318,000 shares. 1,200,000 (18.99%) to QIB, 900,000 (14.25%) to NII, 2,100,000 (33.24%) to RII and 1,800,000 (28.49%) to Anchor investors.| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,800,000 (28.49%) |
| Market Maker Shares Offered | 318,000 (5.03%) |
| QIB Shares Offered | 1,200,000 (18.99%) |
| NII (HNI) Shares Offered | 900,000 (14.25%) |
| Retail Shares Offered | 2,100,000 (33.24%) |
| Total Shares Offered | 6,318,000 (100%) |
Utssav Cz Gold Jewels IPO Anchor Investors Details
Utssav Cz Gold Jewels IPO raises Rs 19.80 crore from anchor investors. Utssav Cz Gold Jewels IPO Anchor bid date is July 30, 2024. Utssav Cz Gold Jewels IPO Anchor Investors list| Bid Date | July 30, 2024 |
| Shares Offered | 1,800,000 |
| Anchor Portion Size (In Cr.) | 19.80 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 4, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | November 3, 2024 |
Utssav Cz Gold Jewels IPO Timeline (Tentative Schedule)
Utssav Cz Gold Jewels IPO opens on July 31, 2024, and closes on August 2, 2024.| 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 |
Utssav Cz Gold Jewels IPO Lot Size
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹132,000 |
| Retail (Max) | 1 | 1200 | ₹132,000 |
| HNI (Min) | 2 | 2,400 | ₹264,000 |
Utssav Cz Gold Jewels IPO Promoter Holding
The promoters of the company are Mr. Pankajkumar H. Jagawat. Mr. Shashank Bhawarlal Jagawat and MR.Rakesh ShantiLal Jagawat.| Share Holding Pre Issue | 95.98% |
| Share Holding Post Issue |
Utssav Cz Gold Jewels Limited Financial Information (Restated)
| Period Ended | 31 Jan 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 12,333.33 | 8,215.83 | 5,616.49 | 4,423.40 |
| Revenue | 27,733.20 | 23,971.52 | 12,342.53 | 12,030.66 |
| Profit After Tax | 1,073.76 | 714.96 | 333.95 | 161.87 |
| Net Worth | 3,311.00 | 2,237.24 | 1,509.33 | 1,175.38 |
| Reserves and Surplus | 2,891.00 | 1,817.24 | 1,089.33 | 755.38 |
| Total Borrowing | 7,703.16 | 4,966.02 | 3,601.97 | 3,016.08 |
Key Performance Indicator
The market capitalization of Utssav Cz Gold Jewels IPO is Rs 262 Cr.KPI as of January 31, 2024.
| 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 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of January 31, 2024 that is available in RHP.
Objects of the Issue (Utssav Cz Gold Jewels IPO Objectives)
The net proceeds are proposed to be utilised for the following objects:
- Funding Working Capital requirement of the company
- General Corporate Purpose
Utssav Cz Gold Jewels Limited Contact Details
2 nd Floor Hitech Plaza
Giriraj Indl Estate Mahakali Caves Road
Andheri (East), Mumbai City, Mumbai – 400 093
Phone: +91 98194 86232
Email: compliance@utssavjewels.com
Website: https://utssavjewels.com/
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