Ashapuri Gold IPO is all about to make its debut on 13 March 2019 with issue size of INR 29.33cr
Ashapuri Gold Ornament Ltd, a 2008 incorporation, conducts wholesale dealing in gold jewellery. The product line of the company comprises items like rings, nose rings, bracelets, necklaces, pendants, and earrings. They offer a variety of products that serve various customer groups, including vintage, traditional, bridal contemporary, and combination designs.
The business has a 2945 square foot store in Ahmedabad. Only jewellery with a Hallmark certification is sold by the company, and that jewellery is made in Ahmedabad and Rajkot on a job-by-job basis. Ashapuri has also partnered with Blue-Onxy Lifestyle, a company that sells branded ready-to-wear clothing. Additionally, they intend to build numerous Readymade Garment showroom chains in a number of Gujarati cities over time. There are presently 9 people working for it.
INDUSTRY OVERVIEW
The Indian economy is significantly impacted by the gems and jewellery industry, which accounts for 15% of all exports from India and roughly 7% of the GDP of the nation. Also, it has about 4.64 million employees and is anticipated to have 8.23 million by 2022. It is one of the industries with the quickest growth and is very focused on exports. The Government of India has designated the gems and jewellery sector as a target area for export promotion based on its potential for growth and value addition. India is thought to be the centre of the world’s jewellery industry due to its affordable labour prices and accessibility to highly qualified workers.
The greatest diamond cutting and polishing hub in the world is India, where favourable government regulations promote the sector. According to data from the Gems Council, India exports 75% of the polished diamonds in the world. Council for the Promotion of Jewellery Exports (GJEPC). India’s gems and jewellery industry has been a significant contributor to the nation’s foreign exchange gains (FEEs). The sector has been prioritised for export development by the GOI. The Indian government currently permits 100% FDI through the automatic method in the sector.
Ashapuri Gold IPO Details
| IPO Date | Mar 13, 2019 to Mar 18, 2019 |
| Listing Date | Wednesday, March 27, 2019 |
| Face Value | ₹10 per share |
| Price | ₹51 per share |
| Lot Size | 2000 Shares |
| Issue Size | 5,750,000 shares of ₹10(aggregating up to ₹29.33 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
Ashapuri Gold IPO Tentative Dates
Ashapuri Gold IPO opens on Mar 13, 2019, and closes on Mar 18, 2019. The Ashapuri Gold IPO bid date is from Mar 13, 2019 10.00 A.M. to Mar 18, 2019 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
| Opening Date | Mar 13, 2019 |
| Closing Date | Mar 18, 2019 |
| Basis of Allotment | Mar 22, 2019 |
| Initiation of Refunds | Mar 25, 2019 |
| Credit of Shares to Demat | Mar 26, 2019 |
| Listing Date | Mar 27, 2019 |
Company Financials
| Particulars | For the year/period ended (in Rs. Lakhs) | ||||
| 30-Nov-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | ||
| Total Assets | 1,609.52 | 1,454.00 | 1,557.90 | 1,684.27 | |
| Total Revenue | 4,951.27 | 4,692.92 | 3,729.42 | 5,562.73 | |
| Profit After Tax | 31.85 | 7.30 | 3.97 | 6.40 |
Objects of the Issue
The objects of the issue are:
1. establishing a jewellery manufacturing facility
2.investing in a partnership company
3.meeting working capital needs
4. Broad corporate objectives.
Ashapuri Gold IPO Prospectus
Company Contact Information
Ashapuri Gold Ornament Limited
109 to 112A, 1st Floor Supermall,
Nr. Lal Bunglow, C.G.Road,
Ahmedabad- 380009
Phone: 079-26462171
Email: info@ashapurigold.com
Website: http://www.ashapurigold.com
Ashapuri Gold IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com/
Ashapuri Gold IPO Lead Manager(s)
- Fedex Securities Limited (Past IPO Performance)
Lead Manager Reports
- IPO Lead Manager Performance Summary
- IPO Lead Manager Performance Tracker
