Bhakti Gems and Jewellery Ltd IPO (Bhakti Gems and Jewellery IPO) Detail

May 17, 2017 - May 22, 2017

Incorporated in 2010, Bhakti Gems and Jewellery Ltd (BGJ) is the manufacturer, wholesaler and supplier of gold jewellery and has its headquartered at Ahmedabad, Gujarat. Company mainly focuses on traditional Indian jewellery.

Company's product range includes handmade gold jewellery studded with precious and semi precious stones such as diamond, ruby, cubic zirconia (cz) etc. The jewelleries are designed by it and manufactured on job work basis at Ahmedabad, Rajkot and Mumbai. BGJ is a customer-centric Company; with a prime focus on attain the utmost client satisfaction by offering them quality assured products. Company's major customers includes Kalyan Jewellers India Ltd, Soni Dwarksdas Virchand, Ghanshyam Jewellers etc.

Company Promoters:

The promoters of the company are:

1. Akshay S. Mehta
2. Varshaben A. Mehta

Objects of the Issue:

The object of the issue are to:

1. Funding working capital requirements of the Company;
2. Issue Expenses.

Bhakti Gems and Jewellery IPO Details

IPO Opening DateMay 17, 2017
IPO Closing DateMay 22, 2017
Issue TypeFixed Price Issue IPO
Face Value₹10 per equity share
IPO Price₹20 per equity share
Market Lot6000 Shares
Min Order Quantity6000 Shares
Listing AtBSE SME
Issue Size1,962,000 Eq Shares of ₹10
(aggregating up to ₹3.92 Cr)

Bhakti Gems and Jewellery IPO Lot Size

The Bhakti Gems and Jewellery IPO market lot size is 6000 shares. A retail-individual investor can apply for up to 1 lots (6000 shares or ₹120,000).

ApplicationLotsSharesAmount (Cut-off)
Minimum16000₹120,000
Maximum16000₹120,000

Bhakti Gems and Jewellery IPO Subscription Status (Bidding Detail)

The Bhakti Gems and Jewellery IPO is subscribed times on May 22, 2017 17:00. The public issue subscribed in the retail category, in the QIB category, and in the NII category. Check Day by Day Subscription Details (Live Status)

CategoryIPO Subscription
Total

Bhakti Gems and Jewellery IPO Prospectus

Bhakti Gems and Jewellery IPO Rating

71
3.3
Rating:Rated 3.3 stars

Vote Here ...

Bhakti Gems and Jewellery IPO Listing Date

Listing DateTuesday, May 30, 2017
BSE Script Code540545
NSE Symbol
Listing InM Group of Securities
ISININE986W01016
IPO Price₹20 per equity share
Face Value₹10 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
Volume
BSE SME
₹20.00
₹18.70
₹18.50
₹20.35
₹20.05
714,000

Bhakti Gems and Jewellery IPO Reviews / Ratings

Company Contact Information

Bhakti Gems and Jewellery Ltd
209, Shree Balaji Paragon,
B/S Rock Regency Hotel,
Opp Axis Bank, C. G Road, Ahmedabad

Phone: +91 7926421701
Email: compliancebhakti@gmail.com
Website: http://www.bhaktijewellery.com

Bhakti Gems and Jewellery IPO Registrar

Skyline Financial Services Private Ltd
   D-153A, 1st Floor,
   Okhla Industrial Area, Phase-I,
   New Delhi -110020

Phone: +91 - 11 - 2681
Email: grievances@skylinerta.com
Website: http://www.skylinerta.com

Bhakti Gems and Jewellery IPO Lead Manager(s)

Bhakti Gems and Jewellery IPO FAQs

  1. What is Bhakti Gems and Jewellery IPO?

    Bhakti Gems and Jewellery IPO is a SME IPO of 1,962,000 equity shares of the face value of ₹10 aggregating up to ₹3.92 Crores. The issue is priced at ₹20 per equity share. The minimum order quantity is 6000 Shares.

    The IPO opens on May 17, 2017, and closes on May 22, 2017.

    Skyline Financial Services Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

  2. When Bhakti Gems and Jewellery IPO will open?

    The Bhakti Gems and Jewellery IPO opens on May 17, 2017 and closes on May 22, 2017.

  3. What is the lot size of Bhakti Gems and Jewellery IPO?

    Bhakti Gems and Jewellery IPO lot size is 6000 Shares and the minimum order quantity is 6000 Shares.

  4. How to apply for Bhakti Gems and Jewellery IPO?

    You can apply in Bhakti Gems and Jewellery IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

  5. When Bhakti Gems and Jewellery IPO allotment?

    The finalization of Basis of Allotment for Bhakti Gems and Jewellery IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Bhakti Gems and Jewellery IPO allotment status.

  6. When is Bhakti Gems and Jewellery IPO listing date?

    The Bhakti Gems and Jewellery IPO listing date is on Tuesday, May 30, 2017.

Bhakti Gems and Jewellery IPO Message Board

Ranked Members  Ranked Members

Loading...
31. NRI Investor |Jul 12, 2017 14:11
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
BTST Today.. Tomorrow Sell 700+

Enjoy..
30. Dhiren Lapsi |May 31, 2017 14:01
The company might not be very lucrative as of this moment as it had a very moderate run in the past few years and is still trying to capture market share. This might be the reason why it came out with an IPO. The promoters of this company have been in this business for more than 18 years and in this time, they have acquired all the knowledge and expertise to make this company a highly profitable one. I think it is the right time to invest in this company because in a span of 2-3 years this company should give good returns & will multiply the wealth of its stakeholders.
29. Prabhakaran Kuppusamy |May 30, 2017 14:10
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
Investors should leave this counter today.
This could trade well at discount within a week.
I''m sure that, the potential upside is negligible - but downside is too deep (bottomless pit).
28. Pinank Mehta |May 26, 2017 18:03
Allotment Out!!!
28.1. Kumat |May 26, 2017 18:15
PLZ GIVE LINK TO CHECK
27. Kumat |May 24, 2017 15:33
Hello

I had applied One lot in Bhakti Gems and Jewellery Ltd IPO through ABSA
Plz advice If I can withdraw my application today itself
is it possible

27.1. Kumat |May 26, 2017 14:25
Hi

Is their is any information about what is allotment and listing date of Bhakti Gems

Thanks
26. IPOANALYSIS |May 23, 2017 16:58
IPO Guru IPO Guru (1900+ Posts, 1500+ Likes)
People should look buying opportunities from secondary market. Also some SME are available at reasonable valuation in secondary market.
why going on fundamentally weak companies only for listing gain is bad.If you get stuck in bad fundamental scrips the money is stuck forever.
25. Prabhakaran Kuppusamy |May 23, 2017 14:33
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
Final subscription for Bhakti is 1.9755 times.
BSE website wrongly says as 2.67.
Usually for all BSE-SME IPOs, the bids on Cut-off price is summed up twice by them.
Here is an example (by comparing the figures of KMS Medisurgi Ltd).
As per BSE website (at http://www.bseindia.com/markets/publicIssues/DisplayIPO.aspx?id=1317&type=FPO&idtype=2&status=H&IPONo=3385&startdt=4/12/2017), total bids are 2524k (1900k bids at 30INR + 624k bids at cut-off).
Now Look at BOA at http://cmlinks.com/pub/ba/bashow.asp?code=69481 which clearly says that total bids received are 1900k bids (which clearly suggests that cut-off bids are counted twice).
You can do the same thing for other BSE SME IPOs too (RMC Switchgears, Chemcrux Enterprises Ltd, Meera Industries, etc.,)
24. Prabhakaran Kuppusamy |May 22, 2017 14:23
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
Bhakti got subscribed 1.599 times so far (at 5/22/2017 2:10:57 PM). I don''t think it''s going to exceed 2x subscription.
Last month Pure Giftcarat got subscribed (finally) 1.459 times.
24.1. Dharmil.Shah |May 22, 2017 16:31
Till now the total Subscription is above 2.5 times as per BSE Bid Details
23. SGJS |May 20, 2017 12:28
what eagleye has to say about Bhakti Gems
22. Prabhakaran Kuppusamy |May 19, 2017 11:49
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
MY WILD UNTRUE/IMAGINATION:
My wild guess is that, Sometimes (some companies) add some of the operating expenses only at the end of the year (example arrears payment or incentive to employees, etc.,).
Maybe, Bhakti is also doing something similar (just to justify the pricing - based on current fiscal numbers).
Example, out of 49 lakh net-profit so far (in 11 months), 48 lakh might be the arrears or incentive to it''s employees.
Therefore, it''s net-profit for whole year might again become 1 lakh at the end of this fiscal (once these operating expenses were deducted).
If we know any employees from Bhakti, we can get clear picture.
For now, I will wait for another fiscal (or atleast till final figures for current fiscal) numbers to be published.
Anyway, I feel that Vadivarhe Speciality Chemicals Limited is worth looking at.
21. Dharmil.Shah |May 16, 2017 12:43
The Following points attract me to invest in the IPO of BHAKTI GEMS AND JEWELLERY LIMITED.

1. Better quality : The Company strives to create works of art that are true to nature, maintain the aesthetic value and follow strict procedures to ensure high quality standards.

2. High customer satisfaction : The Company provide customized solution to their customers keeping in mind their precise requirements. It has client base like Kalyan Jewellers and Joyallukas Jewellers.

3. Experience of promoters : The promoters have an experience of more than 20 years in this business.

4. Timeless designs : The Company has a in house designing facility which produces works of art quite often. We pride ourselves on our designing capabilities.

5. Issue Price : issue Price of share is very very low compared to its book value and P/E ratio.
21.1. Futurze Avenue |May 16, 2017 13:55
Is Dharmil Shah from Rajkot?
21.2. TOPS |May 18, 2017 19:01
Dheamil shah

You are talking everything & anything of Bhakti except financials of 10 mths ending 31/01/2017 which is eye opener
INVESTOR ARE MORE WORRIED ABOUT FIGURES OF 2016_2017

Pl through some light on that if you can , how management see future of the will this sustain in future because previou 4 years NP IS STAGNANT @ only 1 lakh

20. Prabhakaran Kuppusamy |May 18, 2017 12:37
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
Hi Dharmil.Shah,
1. Being an insider of the company (:-P) you must be knowing that even though Bhakti is manufacturer, wholesaler and supplier of gold jewelry, they are only selling designs to Kalyan Jewellers and Joyalukkas.
It is never directly written in RHP that they manufacture jewel for these big names.
It''s another way of deceiving investors.
2. Can you say why cash-flow is negative? Doesn''t it mean that neither the company nor its promoters are trusting the future growth of the company?
3. Eventhough sales for last 5 years remains same (5% here and there), how come the net-profit rose by 50 times (or 5000%) within 11 months of this fiscal? Just read the transcript of MD of Shilpi Cable Technologies (at http://www.moneycontrol.com/news/business/companies/the-stock-which-fell-74-in-one-month-heres-what-management-has-to-say-2280783.html) you''ll know what I mean.
Can''t you feel that something is fishy?
None of the checks are showing the signs of investment in this IPO (except its book-value which is very attractive).
So its 3 negatives VERSUS 1 positive.
20.1. TOPS |May 18, 2017 17:09
Prabhakaran

Your analysis is quite right figures for fy 2016_2017 are something hard to believe

WHAT SEBI IS DOING TO PROTECT SMALL INVESTOR
19. Prabhakaran Kuppusamy |May 13, 2017 19:51
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
Current fiscal numbers are looking cooked up.
Sudden increase in bottomline and net increased from 0.01 to 0.49 crore.
Even though there are no listed peers, Pure Giftcarat Ltd can be taken into account (which is the only SME closer to this).
Based on PE, Bhakti is fine - but it''s price/book ratio looks expensive. D/E is almost 1.
So I won''t be a buyer just based on one fiscal''s net or sales.
Would wait to see another fiscal numbers before investing here.
19.2. Prabhakaran Kuppusamy |May 18, 2017 11:10
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
This share could be another "Shilpi cables".
Because there is no justification about how the profit grew suddenly from 1 lakh to 49 lakh.
Another thing about client-base, please check whether they are selling design (only) to Kalyan Jewellers and Joyalukkas or they are selling Gems and Jewels to them.
Instead of misleadingly naming this company as "Bhakti Gems and Jewellery Ltd" they should have named as "Bhakti Gems and Jewellery Designers Ltd".
I guess there is lot of difference between a Jewellery dealer and designer (I''m a novice in Jewel - so please help me here).
19.3. Dharmil.Shah |May 18, 2017 11:36
Dear Sir @Prabhakaran kuppusamy It Seen From the prospectous they are Manufacuture jewellery for the Kalyan Jewellers and Joylalukas and they also wholesaler and Supplier of gold jewellery
18. anishkumarAN |May 18, 2017 11:21
Just Look at the biding details its been 62.71% Subscribe on its first Day
http://www.bseindia.com/markets/publicIssues/DisplayIPO.aspx?id=1340&type=FPO&idtype=1&status=L&IPONo=3413&startdt=5%2f17%2f2017
18.1. Dharmil.Shah |May 18, 2017 11:25
@anishkumarAN correct
17. LatestNews |May 16, 2017 18:14
Very surprising to see smart investment.in promoting this one. Meera was another one promoted by them. Something fishy? Guiness has never been a rewarding experience. Nor has been a jewellery listing. How cannot it not have a peer? Radhika jeweltech?I would advise to stay away.can look.at performance after listing as I believe it won''t fly off the shelves on listing.
16. Cs Dhaval Patel |May 12, 2017 12:57
It Is A heaven place for investor and its gona multibagger stock at present. The issue price is very low. short term target would be 28-30. MUST BUY AT this price......
16.7. Prabhakaran Kuppusamy |May 14, 2017 00:19
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
Hi Dhaval,
Is it multi-bagger or multi-beggar? :-P
Please correct the typo in your post. :-D
16.8. Dharmil.Shah |May 16, 2017 12:33
I think it may not be Multi-bagger or Multi-beggar. There is firmst Gems and gold Jewellery business company going to list on SME platform. so no peer comparision is available. and I think P/E of 25 is good for this industry. Book value is Rs. 14 and company is cuming up with ipo @ price of Rs. 20.

I think one should invest in stock for better return.
15. PearlRohit |May 13, 2017 14:46
TURNOVER IS VERY VERY LAW
NET PROFIT IS VERY VERY VERY LAW
MERCHANT BANKER - PREVIOUS SME IPO TRADE RECORD VERY BAD
AVOID THIS SME IPO
15.1. Dharmil.Shah |May 16, 2017 12:20
The One Should always look at the current Financials results while investing in Market. And i think if investors will stay invested in stock then it will be benefited to shareholders and company as well.
14. sundervan |May 13, 2017 11:27
IPO Is Worth For invest for the long term As It has A low P/e Ratio And its A good investment opportunity
14.1. Dharmil.Shah |May 16, 2017 12:17
The company is issuing shares at very low price compared to its book value. if we stay invested for long term then it will definitely give double return.
13. CA M&co.Jodhpur |May 15, 2017 20:54
Listing summary of Meera ind.SME
Issue price-36
Closing price -36.05
High -37.00
Low -33.00
12. Hiren K. |May 14, 2017 09:59
Yug Decor SME IPO coming up at 18th May.







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