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Palm Jewels Limited IPO (Palm Jewels IPO) Detail

May 25, 2018 - Jun 4, 2018

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.

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.

Company Financials:

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

Objects 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

Issue Detail:

  »»  Issue Open: May 25, 2018 - Jun 4, 2018
  »»  Issue Type: Fixed Price Issue IPO
  »»  Issue Size: 2,968,000 Equity Shares of Rs 10 aggregating up to Rs 8.90 Cr
  »»  Face Value: Rs 10 Per Equity Share
  »»  Issue Price: Rs 30 Per Equity Share
  »»  Market Lot: 4000 Shares
  »»  Minimum Order Quantity: 4000 Shares
  »»  Listing At: BSE SME

Palm Jewels IPO Reviews / Recommendations:

Dilip Davda - Avoid


Palm Jewels IPO Subscription Status / Live Bidding Status

Palm Jewels IPO Subscription Status tells if Palm Jewels IPO subscribed or not. Investors can bid for IPO shares between 10 AM to 5 PM when public issue is open. Palm Jewels IPO oversubscribed if bids are received for more shares than what is offered by the company.

Palm Jewels IPO - How Many Times Subscribed?
Number of Bids Received
As on Date & TimeQIBNIIRIIOthersTotal
Shares Offered / Reserved01,408,0001,408,000152,0002,968,000
Day 1 - May 25, 2018 17:00 IST084,0000-84,000
Day 2 - May 28, 2018 17:00 IST0372,00016,000-388,000
Day 3 - May 29, 2018 17:00 IST0372,00036,000-408,000
Day 4 - May 30, 2018 17:00 IST0508,00048,000-556,000
Day 5 - May 31, 2018 17:00 IST0508,000720,000-1,228,000
Day 6 - Jun 1, 2018 17:00 IST0848,0001,180,000-2,028,000
Day 7 - Jun 4, 2018 17:00 IST01,152,0002,112,000-3,264,000

Palm Jewels IPO Prospectus

Palm Jewels IPO Rating

Rating:Rated 2.0 stars

Vote Here ...

Palm Jewels IPO Listing Date

  •   ›  Listing Date: Tuesday, June 12, 2018
  •   ›  BSE Script Code: 541444
  •   ›  NSE Symbol:
  •   ›  Listing In: MT
  •   ›  ISIN: INE838Z01012
  •   ›  Issue Price: Rs 30 Per Equity Share
  •   ›  Face Value: Rs 10 Per Equity Share

Listing Day Trading Information

Issue Price:
Last Trade:
Rs 30.00
Rs 37.50
Rs 35.65
Rs 37.50
Rs 35.85

Palm Jewels IPO News Alerts

  1. Tuesday, June 12, 2018 12:00:00 AM
    Palm Jewels IPO Listing Date & Info
  2. Friday, June 1, 2018 12:00:00 AM
    Palm Jewels IPO Closes on Jun 1, 2018
  3. Friday, May 25, 2018 12:00:00 AM
    Palm Jewels IPO Opens on May 25, 2018

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

Palm Jewels IPO Registrar

Karvy Computershare Private Limited   »  Report
   Karvy House, 46, Avenue 4, Street No. 1,
   Banjara Hills, Hyderabad - 500 034
   Andhra Pradesh, India

Phone: +91-40-23312454
Fax: +91-40-23311968

Palm Jewels IPO Lead Manager(s)

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Palm Jewels IPO Review / Comments

35. Small Investor  Jun 2, 2018 3:58:20 PM IST I Like It. | Report Abuse Reply
froud company h ye 200% Draft submit page open nhi ho rha h

will discount more then 35-40% on listing day and after 5% Lower Circuit
35.9. IPOFUNDA  Jun 12, 2018 11:39:03 AM IST I Like It. 1 | Report Abuse
Palm Jewels Listed At 25% up, Dear IPOANALYSIS and small investor pls check
35.10. IPOANALYSIS  Jun 13, 2018 1:56:15 PM IST I Like It. | Report Abuse
IPO Guru IPO Guru (1000+ Posts, 700+ Likes)
IPO FUNDA is it now lower circuit.

these type of bad operator driven stocks of first overseas should be stay away no matter how high they goes

operator artificially jacked up price for time being.

first overseas is a bad LM and same goes with navigant.
i already told everyone to boycott all there issues.
1 or 2 may gain little but all their companies have no fundamentals at all
34. traderji  Jun 12, 2018 11:59:38 AM IST I Like It. | Report Abuse Reply
what a listing where issue is not fully subscribe and extended.
34.1. IPOANALYSIS  Jun 13, 2018 10:49:33 AM IST I Like It. | Report Abuse
IPO Guru IPO Guru (1000+ Posts, 700+ Likes)
clear game of operator

this time first overseas changed the market maker to beeline
34.2. IPOANALYSIS  Jun 13, 2018 10:50:23 AM IST I Like It. | Report Abuse
IPO Guru IPO Guru (1000+ Posts, 700+ Likes)
a great chance the undersubscribed portion is with underwriter and artifical jump of price in this one.
33. anujsme  Jun 4, 2018 12:26:56 AM IST I Like It. 1 | Report Abuse Reply
will list same as UHzaveri that is 28 % discount
33.4. IPOFUNDA  Jun 4, 2018 6:07:59 PM IST I Like It. 1 | Report Abuse
@small investor sir esa b to ho sakta h na ki innovators facades me promoter ki game ho ki retail public kam me nikl jayegi uske bad price chalayenge

aur rahi bat Palm ki to usme agar positive listing hua to aap h na account delet kar dena vese b faltu ki negativity fela rahe ho

jisne b invest kiya h vo ese logo ki bato ko ignore kar sakte ho
33.5. IPOFUNDA  Jun 12, 2018 11:43:06 AM IST I Like It. | Report Abuse
Dear sir,
Palm jewels Listed at 25% up pls check
32. Small Investor  Jun 12, 2018 11:07:22 AM IST I Like It. | Report Abuse Reply
31. Johny  Jun 4, 2018 5:31:24 PM IST I Like It. 2 | Report Abuse Reply
Difference between this and UH Zaveri is Beeline is the Market Maker in this one. Check stocks where Beeline was the market maker - Megastar foods is the recent example. Quietly doing UCs every day.
31.1. Johny  Jun 12, 2018 9:49:37 AM IST I Like It. 2 | Report Abuse
Open 25% UP!!!
30. Finception  Jun 5, 2018 12:29:20 PM IST I Like It. 3 | Report Abuse Reply
1.Their Director is a 20 year old kid who is currently pursuing a degree in Engineering. He is also responsible for the administration of the company
2. The CFO is 25 years old. B.Com grad. Experience of 5 years from Parasmani Jewellers. A Facebook profile with the same name lists him as a Cashier in Parasmani Jewellers. (Can't be verified though)
3. They have 8 employees in total apart from the management. 1 CFO, 1 Company Secretary who was hired on May 15, 2018. 1 driver. 2 Accountants. And 3 Sales people
3. They do only wholesale gold selling. Buying gold from the bullion market, giving it out to job workers( Not employees ) to make new designs and then sell it to other jewellery stores. Very very thin margins
4. Their biggest client is Jain ornaments with 3.6 Cr. Business. Jain ornaments i also owned by the promoters of Palm Jewel
5. They have very little fixed assets ~2 Lakhs and operating out of a leased space
6. Shareholders fund suddenly increased from Rs. 35 Lakhs (FY 2017) to 4.12 Crores (FY 2018)
7. The company secured a loan of Rs. 90 Lakh from Yes bank on October 2017 at an interest of 8.8% p.a. However the company's financial cost stood at only Rs. 1.37 Lakhs as of Feb 2018.
30.2. Turtle Singh  Jun 5, 2018 2:18:18 PM IST I Like It. | Report Abuse
Great Job Machaye Hooooo
30.3. IPOFUNDA  Jun 7, 2018 1:50:17 PM IST I Like It. | Report Abuse
Great analysis sir,
with Reference to Loan Part, if i'm not wrong it is considered as very low debt compared to other jewelry company or we can say that company has manged to do its business from its own fund and its good
29. Turtle Singh  Jun 5, 2018 2:16:48 PM IST I Like It. | Report Abuse Reply
Good Job .
28. Finception  Jun 5, 2018 12:22:54 PM IST I Like It. | Report Abuse Reply
27. Finception  Jun 5, 2018 12:21:05 PM IST I Like It. | Report Abuse Reply
If any one of you had plans to invest in the IPO of Palm Jewels you might want to read this one. In almost spectacular fashion this company has generated an annual turnover of Rs. 19 Cr with 3 Sales people, 1 Driver, a full time Director who is only 20 years old.
26. IPO Analysts  Jun 3, 2018 4:23:07 PM IST I Like It. | Report Abuse Reply
Palm Jewels shop is in my area, not famous shop also other famous jwellers like kalyan, AB Jwellers, Tanisq are doing well in my area than this unknown jweller.
26.1. Abhishek Shahi  Jun 3, 2018 11:52:05 PM IST I Like It. | Report Abuse
Avoid this issue
26.2. angel Investor  Jun 4, 2018 5:40:57 PM IST I Like It. | Report Abuse
Sir If You Want a fair Comparison pls compare with it with Same size of Company, even i have visited the registered office of the company for verification purpose and also personally inquired about it, where i have came to know that it is located in very well known Jewellery hub of ahmedabad and palm jewels is considered as well known and trustworthy name amongst the whole market

pls dont spread negative rumours
25. Abhishek Shahi  Jun 3, 2018 11:52:31 PM IST I Like It. | Report Abuse Reply
dont look good
24. SecTheta  Jun 1, 2018 11:19:13 PM IST I Like It. | Report Abuse Reply
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
Full on Farzi company... Big avoid..
23. anujsme  Jun 1, 2018 11:55:32 AM IST I Like It. | Report Abuse Reply
they are first overseas agents who want you to subscribe and are paid for that.
dont go for what they say

people have burnt their hands in uh zaveri and will not hopefully do in this.see the guts of company to come up with same jewellery sector issue despite people face loss of 30 % on new issue

i pray to god for this issue to be cancelled and all retailer cancel their bids.
let a message go to bad LM and also even sebi that not allow such fake companies to come up with new issue
23.1. IPOANALYSIS  Jun 1, 2018 3:27:42 PM IST I Like It. | Report Abuse
IPO Guru IPO Guru (1000+ Posts, 700+ Likes)
10 days this will remain open .hahahaha.
i am surprised with few retailer who applied. bahut nek dil ke lagte hai shayad paisa donate kar rahe hein
23.2. SONMAYA  Jun 1, 2018 10:31:09 PM IST I Like It. | Report Abuse
Top Contributor Top Contributor (300+ Posts)
Those retailer who hv applied have already sold in one will dare ro apply in this ipo after seeing Bloodbath in UH ZAVERI
22. sundervan  May 29, 2018 2:22:22 PM IST I Like It. | Report Abuse Reply
Hello Investor,

I would suggest to apply for the share. I think if one jewelley company didnt work properly, that doesnt mean all are the same. We investor also dont know what actually happend in the script of U.H Zaveri Limited. From unauthorized sources from market, i came to know that Some group of investors have cheated the company. but the promoters are strongly stands with the investors who have invested their hard earned money.

So, looking at the financial of the company, it has generated revenue of Rs. 59.21 lacs on overall sell of Rs. 1975.32 lacs which is very good in jewellery sector. So , i would suggest to invest in the script.
22.1. Dr Sandip Datta Roy  Jun 1, 2018 12:03:59 AM IST I Like It. | Report Abuse
Are you an expert to suggest such fraud company shares?
21. IPOFUNDA  May 29, 2018 6:15:50 PM IST I Like It. | Report Abuse Reply
Looking at the overview of the company Palm Jewels Limited, we have come out with following conclusion.

1.       The Promoter of palm Jewels Limited Mr. Rohit D. Shah is in the business of Gold and Silver Ornaments since the year 1998 through his Proprietary Concern M/s. Jain Ornaments. Further with the bigger vision in Jewellery Industries, he with his wife incorporated a company in the year 2005 and from then they are continuously working for the growth of the company.

2.       As on February 28, 2018 the company has generated the Profit of Rs. 59.21 Lacs on sales of 1975.32 lacs. So, we can say that company is doing business on good margin which is considered as very strong fundamentals.

3.      The Networth of the company as on date is Rs. 664.45 Lacs, Which is considered as good

4.      The stock of the company as on February 28, 2018 is Rs. 230.69 Lacs

5.      The company has insured its stock, furniture & fixtures etc. by availing insurance policy worth Rs. 622.00 Lacs.

So, as per my view as compared to its peers the company is fundamentally strong and reliable for investment purpose.
21.1. S T  May 29, 2018 9:35:23 PM IST I Like It. | Report Abuse
Thanks IPOFUNDA.. Tum hiii lagaa do yeh farzi IPO ko.. You are great thug!!
21.2. Dr Sandip Datta Roy  Jun 1, 2018 12:01:57 AM IST I Like It. | Report Abuse
Fundamentally strong company????.....say it again. Since when you started stock analysis? Do Not fool the retail onvestors.
20. Dr Sandip Datta Roy  May 31, 2018 11:56:18 PM IST I Like It. | Report Abuse Reply
Looks like a fraud company like Gala Global products where all the investors lost huge amount of money in just two months. Stay away from such fraud stocks.
19. Small Investor  May 31, 2018 10:23:54 AM IST I Like It. | Report Abuse Reply
company m only 11 hi worker h jb is company m koi kam hi nhi krna chahta h to iska matlab avoid this farzi Ipo
18. Small Investor  May 30, 2018 2:03:42 PM IST I Like It. | Report Abuse Reply
should be cancel this ipo due to not fully subscribe
18.1. S T  May 30, 2018 4:14:11 PM IST I Like It. | Report Abuse
Brother, cancel this IPO application.. Why such question even arises.. Infact, first place why did you apply this farzi IPO???!!!
17. IPOANALYSIS  May 30, 2018 2:11:37 PM IST I Like It. 1 | Report Abuse Reply
IPO Guru IPO Guru (1000+ Posts, 700+ Likes)
corporates are all false subscription. there is no individual yet in subscribe this ipo at all.
corporates subscription will vanish and are made falsey and rejected at last time to show subscription numbers.

request retailer to not even look at this sme and just ignore
16. anujsme  May 28, 2018 9:37:54 AM IST I Like It. 2 | Report Abuse Reply
bhaiyo bolo gali gali mein shor hai first oiversease aur yehh jewel companies chor hai
16.2. S T  May 29, 2018 9:38:11 PM IST I Like It. | Report Abuse
@sundervan: Oye thagi, chor saale tera number de.. Bos***ke pel dunga... Ma****od looting innocent investors!!
16.3. IPOANALYSIS  May 30, 2018 2:07:43 PM IST I Like It. 1 | Report Abuse
IPO Guru IPO Guru (1000+ Posts, 700+ Likes)
Sundervan we know u r employee paid from first overseas capital to ask people and trap innocent investors.
no one is going to fall in the trap again.
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