Free Trading + Demat Account

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
Issue OpenMay 25, 2018 - Jun 4, 2018
Issue TypeFixed Price Issue IPO
Issue Size2,968,000 Eq Shares of Rs 10
(aggregating up to Rs 8.90 Cr)
Face ValueRs 10 Per Equity Share
Issue PriceRs 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 Acct:Jun 7, 2018
IPO Shares Listing Date:Jun 11, 2018

Palm Jewels IPO Subscription Status (Live)

Palm Jewels IPO how much subscribed?

No. of Times Issue Subscribed (BSE + NSE)

As on Date & Time




Shares Offered




Jun 4, 2018 17:00




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 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

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

Guaranteed Save 60% to 90% Brokerage

You could reduce the brokerage cost significantly by moving to another stock broker. Our expert team compared top share brokers in India to help traders. STOP paying Demat AMC, Brokerage in %, PCM Fee and High Stamp Duty today.

We can help you choosing the right broker. Contact us today...

Palm Jewels IPO Review / Comments

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

this time first overseas changed the market maker to beeline
34.2. IPOANALYSIS  Jun 13, 2018 10:50 I Like It. | Report Abuse
a great chance the undersubscribed portion is with underwriter and artifical jump of price in this one.
33. Small Investor  Jun 12, 2018 11:07 I Like It. | Report Abuse
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
32. Finception  Jun 5, 2018 12:29 I Like It. 3 | Report Abuse
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.
32.2. Turtle Singh  Jun 5, 2018 14:18 I Like It. | Report Abuse
Great Job Machaye Hooooo
32.3. IPOFUNDA  Jun 7, 2018 13:50 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
31. Turtle Singh  Jun 5, 2018 14:16 I Like It. | Report Abuse
Good Job .
30. Finception  Jun 5, 2018 12:21 I Like It. | Report Abuse
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.
29. Small Investor  Jun 2, 2018 15:58 I Like It. | Report Abuse
Top Contributor Top Contributor (400+ Posts, 100+ 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
29.9. IPOFUNDA  Jun 12, 2018 11:39 I Like It. 1 | Report Abuse
Palm Jewels Listed At 25% up, Dear IPOANALYSIS and small investor pls check
29.10. IPOANALYSIS  Jun 13, 2018 13:56 I Like It. | Report Abuse
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
28. anujsme  Jun 4, 2018 00:26 I Like It. | Report Abuse
will list same as UHzaveri that is 28 % discount
28.4. IPOFUNDA  Jun 4, 2018 18:07 I Like It. | 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
28.5. IPOFUNDA  Jun 12, 2018 11:43 I Like It. | Report Abuse
Dear sir,
Palm jewels Listed at 25% up pls check
27. IPO Analysts  Jun 3, 2018 16:23 I Like It. | Report Abuse
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.
27.1. Abhishek Shahi  Jun 3, 2018 23:52 I Like It. | Report Abuse
Avoid this issue
27.2. angel Investor  Jun 4, 2018 17:40 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
26. Johny  Jun 4, 2018 17:31 I Like It. 1 | Report Abuse
Top Contributor Top Contributor (200+ Posts, 200+ 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.
26.1. Johny  Jun 12, 2018 09:49 I Like It. 2 | Report Abuse
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
Open 25% UP!!!
25. Abhishek Shahi  Jun 3, 2018 23:52 I Like It. | Report Abuse
dont look good
24. SecTheta  Jun 1, 2018 23:19 I Like It. | Report Abuse
Full on Farzi company... Big avoid..
23. anujsme  Jun 1, 2018 11:55 I Like It. | Report Abuse
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 15:27 I Like It. | Report Abuse
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 22:31 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 14:22 I Like It. | Report Abuse
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 00:03 I Like It. | Report Abuse
Are you an expert to suggest such fraud company shares?
21. IPOFUNDA  May 29, 2018 18:15 I Like It. | Report Abuse
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 21:35 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 00:01 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 23:56 I Like It. | Report Abuse
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 I Like It. | Report Abuse
Top Contributor Top Contributor (400+ Posts, 100+ 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
18. Small Investor  May 30, 2018 14:03 I Like It. | Report Abuse
Top Contributor Top Contributor (400+ Posts, 100+ Likes)
should be cancel this ipo due to not fully subscribe
18.1. S T  May 30, 2018 16:14 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 14:11 I Like It. 1 | Report Abuse
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 09:37 I Like It. 2 | Report Abuse
bhaiyo bolo gali gali mein shor hai first oiversease aur yehh jewel companies chor hai
16.2. S T  May 29, 2018 21:38 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 14:07 I Like It. 1 | Report Abuse
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.
15. S T  May 29, 2018 21:43 I Like It. 1 | Report Abuse
INVESTORS BE CAREFUL: "sundervan" & "IPOFUNDA" are thugs and part of farzi companies like Palm Jewels & UH Zaveri
  • Special Offers
    by Popular Stock Brokers
  • HDFC Securities
    Open your 3-in-1 account with free Demat and Trading Account. Demat account AMC fee of ₹750 waived off for the first year.
  • Sharekhan
    Get Free Trading + Demat Account (₹1150 waived on account opening) for limited time. Request a Callback.
  • Angel Broking
    Get free lifetime AMC on Demat & Trading account with Angel when you pay ₹1500 (payable in 2nd year). Get the offer
  • India Infoline (IIFL)
    Open a FREE Demat & Trading Account (Save upto ₹1150). Get the exclusive offer
  • Ventura
    Zero account opening fees for limited time. Request a Callback
  • Motilal Oswal
    Get Free Trading + Demat Account (₹500 waived on account opening) for limited time. Get the offer
  • Religare
    Get Free Trading + Demat Account for limited time. Get the offer
  • Zerodha
    Free equity delivery trading (truly no brokerage) and Flat ₹20 intranet and F&O trade brokerage. Get the offer
  • ProStocks
    Get Free Trading + Demat Account for limited time. Request a Callback
  • 5paisa
    Open 5Paisa Trading Account & get FREE Mutual Fund Account + FREE 1st year Demat AMC + Trade at flat Rs 10 per order. Get the offer
  • Upstox
    Get account opening fees as brokerage cashback + Free equity delivery trading (truly no brokerage) + Flat ₹20 for Intraday and F&O trades. Get the Exclusive Offer
    Get Free Trading and Demat Account Opening + 100% Brokerage Cash Back for 1st Month for trades using Mobile App
  • Fyers
    Get FREE Trading for Limited Time + FREE Equity Delivery Trades (No Brokerage). Get the offer
  • Beeline
    Open a Lifetime free AMC Demat Account at just ₹176 + 15 days trading free. Use coupon code CHT176 for this special offer.
  • AliceBlue
    Get Zero AMC Demat Account for life.
  • Trustline
    Get 50% disocunt (₹500 Off) on Lifetime FREE AMC Demat Account fee (₹1000).
  • RMoney
    Free Account Opening + Free Demat AMC for Life + Free Call & Trade
  • iTradeOnline
    Get 50% disocunt (₹500 Off) on Lifetime FREE AMC Demat Account fee (₹1000).

More About Brokers

Special Offers Broker Reports

Message Board

Stock Message Board