Palm Jewels IPO is set to make its debut on 25th March 18 with 8.90 Cr s a company engaged in the wholesale business of gold jewelry.
Palm Jewels IPO – overview
| IPO Dates | 25 March – 4 June 18 |
| IPO Price | INR 30 per share |
| Fresh issue | – |
| Offer For Sale | Nil |
| Total IPO size | 2,968,000 shares (INR 8.90 crore) |
| Minimum bid (lot size) | 4000 shares |
| Face Value | INR 10 per share |
| Retail Allocation | 50% |
| Listing On | BSE Emerge |
Palm Jewels IPO – Tentative Dates
| IPO Offer Opening Date | 25 May2018 |
| IPO Closing Date | 4 June 2018 |
| Finalization of Basis of Allotment | 6 June 2018 |
| Initiation of refunds | 7 June 2018 |
| Transfer of shares to demat accounts | 7 June 2018 |
| IPO Listing Date | 11 June 2018 |
Company Overview
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 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 or 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.
Objects of the Issue
1. To meet the working capital requirement; and
2. To meet the expenses of the Issue
Company Financials
| Particulars | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 |
| Total Assets | 163.08 | 36.62 | 35.93 |
| Total Revenue | 552.38 | 157.48 | 97.91 |
| Profit After Tax | 1.54 | 0.53 | (0.35) |
Company Contact 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/
Palm Jewels IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://karisma.kfintech.com/
Palm Jewels IPO Lead Manager(s)
- First Overseas Capital Limited (Past IPO Performance)
Lead Manager Reports
- IPO Lead Manager Performance Summary
- IPO Lead Manager Performance Tracker
