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

Palm Jewels IPO Details

IPO DateMay 25, 2018 - Jun 4, 2018
Issue TypeFixed Price Issue IPO
Issue Size2,968,000 Eq Shares of ₹10
(aggregating up to ₹8.90 Cr)
Face Value₹10 Per Equity Share
IPO Price₹30 Per Equity Share
Market Lot4000 Shares
Min Order Quantity4000 Shares
Listing AtBSE SME

Palm Jewels IPO Tentative Date / Timetable

Bid/Offer Opens OnMay 25, 2018
Bid/Offer Closes OnJun 4, 2018
Finalisation of Basis of AllotmentJun 6, 2018
Initiation of RefundsJun 7, 2018
Credit of Shares to Demat AcctJun 7, 2018
IPO Shares Listing DateJun 11, 2018

Palm Jewels IPO Lot Size and Price (Retail)

ApplicationLotsSharesAmount (Cut-off)
Minimum14000₹120,000
Maximum14000₹120,000

Palm Jewels IPO Subscription Status (Bidding Detail)

Palm Jewels IPO how much subscribed?

No. of Times Issue Subscribed (BSE + NSE)

As on Date & Time

NII

RII

Total

Shares Offered

1,408,000

1,408,000

2,816,000

Jun 4, 2018 17:00

0.82x

1.50x

1.16x

Palm Jewels IPO Prospectus

Palm Jewels IPO Rating

23
2.0
Rating:Rated 2.0 stars

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Palm Jewels IPO Listing Date

Listing DateTuesday, June 12, 2018
BSE Script Code541444
NSE Symbol
Listing InMT
ISININE838Z01012
IPO Price₹30 Per Equity Share
Face Value₹10 Per Equity Share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
Volume
BSE SME
₹30.00
₹37.50
₹35.65
₹37.50
₹35.85
104,000

Palm Jewels IPO Reviews / Ratings

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

Karvy Computershare Private Limited
   Karvy Registry House, 8-2-596, St. No. 1,
   Banjara Hills, Hyderabad - 500 034
   Andhra Pradesh, India

Phone: +91-40-23312454
Email: einward.ris@karvy.com
Website: https://karisma.karvy.com/

Palm Jewels IPO FAQs

  1. 1. What is Palm Jewels IPO?

    Palm Jewels IPO is a SME IPO of 2,968,000 equity shares of the face value of ₹10 aggregating up to ₹8.90 Crores.

    The issue price of the IPO is ₹30 Per Equity Share. The minimum order quantity is 4000 Shares per application and the offer type is Fixed Price Issue.

    The IPO opens on May 25, 2018 and closes on Jun 4, 2018.

    Karvy Computershare Private Limited is the registrar for the IPO. The shares are proposed to be listed on BSE SME.

  2. 2. When Palm Jewels IPO will open?

    The Palm Jewels IPO opens on May 25, 2018 and closes on Jun 4, 2018.

  3. 3. How to apply for Palm Jewels IPO?

    Palm Jewels IPO application can be done through banks using ASBA online or through stock brokers trading account using UPI. All popular banks i.e. HDFC, ICICI, and SBI offer online IPO applications. An investor can also apply directly through their broker (i.e. Zerodha, Sharekhan) using UPI as a payment method.

  4. 4. When Palm Jewels IPO allotment?

    The finalization of Basis of Allotment for Palm Jewels IPO will be done on Jun 6, 2018, and the allotted shares will be credited to your demat account by Jun 7, 2018. Check the Palm Jewels IPO allotment status.

  5. 5. When is Palm Jewels IPO listing date?

    The Palm Jewels IPO listing date is on Tuesday, June 12, 2018, at BSE SME.
  6. 6. What is the lot size of Palm Jewels IPO?

    Palm Jewels IPO lot size is 4000 Shares and the minimum order quantity is 4000 Shares.

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Palm Jewels IPO Review / Comments

traderji
34. traderji  Jun 12, 2018 11:59
what a listing where issue is not fully subscribe and extended.
IPOANALYSIS
34.1. IPOANALYSIS  Jun 13, 2018 10:49
clear game of operator

this time first overseas changed the market maker to beeline
IPOANALYSIS
34.2. IPOANALYSIS  Jun 13, 2018 10:50
a great chance the undersubscribed portion is with underwriter and artifical jump of price in this one.
Small Investor
33. Small Investor  Jun 12, 2018 11:07
IPO Guru IPO Guru (1300+ Posts, 700+ Likes)
whhhhhhhhhh
Finception
32. Finception  Jun 5, 2018 12:29
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.
Turtle Singh
32.2. Turtle Singh  Jun 5, 2018 14:18
Great Job Machaye Hooooo
IPOFUNDA
32.3. IPOFUNDA  Jun 7, 2018 13:50
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
Turtle Singh
31. Turtle Singh  Jun 5, 2018 14:16
Good Job .
Finception
30. Finception  Jun 5, 2018 12:21
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.
Small Investor
29. Small Investor  Jun 2, 2018 15:58
IPO Guru IPO Guru (1300+ Posts, 700+ Likes)
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
IPOFUNDA
29.9. IPOFUNDA  Jun 12, 2018 11:39
Palm Jewels Listed At 25% up, Dear IPOANALYSIS and small investor pls check
IPOANALYSIS
29.10. IPOANALYSIS  Jun 13, 2018 13:56
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
anujsme
28. anujsme  Jun 4, 2018 00:26
will list same as UHzaveri that is 28 % discount
IPOFUNDA
28.4. IPOFUNDA  Jun 4, 2018 18:07
@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
IPOFUNDA
28.5. IPOFUNDA  Jun 12, 2018 11:43
Dear sir,
Palm jewels Listed at 25% up pls check
IPO Analysts
27. IPO Analysts  Jun 3, 2018 16:23
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.
Abhishek Shahi
27.1. Abhishek Shahi  Jun 3, 2018 23:52
Avoid this issue
angel Investor
27.2. angel Investor  Jun 4, 2018 17:40
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
Johny
26. Johny  Jun 4, 2018 17:31
Top Contributor Top Contributor (300+ Posts, 400+ Likes)
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.
Johny
26.1. Johny  Jun 12, 2018 09:49
Top Contributor Top Contributor (300+ Posts, 400+ Likes)
Open 25% UP!!!
Abhishek Shahi
25. Abhishek Shahi  Jun 3, 2018 23:52
dont look good
SecTheta
24. SecTheta  Jun 1, 2018 23:19
Full on Farzi company... Big avoid..
anujsme
23. anujsme  Jun 1, 2018 11:55
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
IPOANALYSIS
23.1. IPOANALYSIS  Jun 1, 2018 15:27
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
SONMAYA
23.2. SONMAYA  Jun 1, 2018 22:31
Top Contributor Top Contributor (300+ Posts)
Those retailer who hv applied have already sold in Sub2..no one will dare ro apply in this ipo after seeing Bloodbath in UH ZAVERI
sundervan
22. sundervan  May 29, 2018 14:22
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.
Dr Sandip Datta Roy
22.1. Dr Sandip Datta Roy  Jun 1, 2018 00:03
Are you an expert to suggest such fraud company shares?
IPOFUNDA
21. IPOFUNDA  May 29, 2018 18:15
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.
S T
21.1. S T  May 29, 2018 21:35
Thanks IPOFUNDA.. Tum hiii lagaa do yeh farzi IPO ko.. You are great thug!!
Dr Sandip Datta Roy
21.2. Dr Sandip Datta Roy  Jun 1, 2018 00:01
Fundamentally strong company????.....say it again. Since when you started stock analysis? Do Not fool the retail onvestors.
Dr Sandip Datta Roy
20. Dr Sandip Datta Roy  May 31, 2018 23:56
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.
Small Investor
19. Small Investor  May 31, 2018 10:23
IPO Guru IPO Guru (1300+ Posts, 700+ Likes)
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
Small Investor
18. Small Investor  May 30, 2018 14:03
IPO Guru IPO Guru (1300+ Posts, 700+ Likes)
should be cancel this ipo due to not fully subscribe
S T
18.1. S T  May 30, 2018 16:14
Brother, cancel this IPO application.. Why such question even arises.. Infact, first place why did you apply this farzi IPO???!!!
IPOANALYSIS
17. IPOANALYSIS  May 30, 2018 14:11
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
anujsme
16. anujsme  May 28, 2018 09:37
bhaiyo bolo gali gali mein shor hai first oiversease aur yehh jewel companies chor hai
S T
16.2. S T  May 29, 2018 21:38
@sundervan: Oye thagi, chor saale tera number de.. Bos***ke pel dunga... Ma****od looting innocent investors!!
IPOANALYSIS
16.3. IPOANALYSIS  May 30, 2018 14:07
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.
S T
15. S T  May 29, 2018 21:43
INVESTORS BE CAREFUL: "sundervan" & "IPOFUNDA" are thugs and part of farzi companies like Palm Jewels & UH Zaveri







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