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.
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.
|Particulars||For the year/period ended (in Rs. Lakhs)|
|Profit After Tax||1.54||0.53||(0.35)||0.19||0.14|
The Objects of the Issue are-
1. To meet the working capital requirement; and
2. To meet the expenses of the Issue
|Issue Open||May 25, 2018 - Jun 4, 2018|
|Issue Type||Fixed Price Issue IPO|
|Issue Size||2,968,000 Eq 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|
|Min Order Quantity||4000 Shares|
|Listing At||BSE SME|
|Bid/Offer Opens On||May 25, 2018|
|Bid/Offer Closes On||Jun 4, 2018|
|Finalisation of Basis of Allotment||Jun 6, 2018|
|Initiation of Refunds||Jun 7, 2018|
|Credit of Shares to Demat Acct:||Jun 7, 2018|
|IPO Shares Listing Date:||Jun 11, 2018|
No. of Times Issue Subscribed (BSE + NSE)
As on Date & Time
Jun 4, 2018 17:00
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