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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.

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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 Opening Date May 25, 2018
IPO Closing Date Jun 4, 2018
Issue Type Fixed Price Issue IPO
Face Value ₹10 per equity share
IPO Price ₹30 per equity share
Market Lot 4000 Shares
Min Order Quantity 4000 Shares
Listing At BSE SME
Issue Size2,968,000 Eq Shares of ₹10
(aggregating up to ₹8.90 Cr)

Palm Jewels IPO Tentative Timetable

The Palm Jewels IPO open date is May 25, 2018, and the close date is Jun 4, 2018. The issue may list on Jun 11, 2018.

IPO Open Date May 25, 2018
IPO Close Date Jun 4, 2018
Basis of Allotment Date Jun 6, 2018
Initiation of Refunds Jun 7, 2018
Credit of Shares to Demat Account Jun 7, 2018
IPO Listing Date Jun 11, 2018

Palm Jewels IPO Lot Size

The Palm Jewels IPO market lot size is 4000 shares. A retail-individual investor can apply for up to 1 lots (4000 shares or ₹120,000).

Application Lots Shares Amount (Cut-off)
Minimum 1 4000 ₹120,000
Maximum 1 4000 ₹120,000

Palm Jewels IPO Review

Considering status of prevailing sentiments for jewellery sector and exorbitant pricing of the issue, investors may give it a miss. 

Read detail review...

Palm Jewels IPO Subscription Status (Bidding Detail)

The Palm Jewels IPO is subscribed 1.16 times on 6/4/2018 5:00:00 PM. The public issue subscribed 1.50 times in the retail category, times in the QIB category, and 0.82 times in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
NII0.82
Retail1.50
Total1.16

Palm Jewels IPO Prospectus

Palm Jewels IPO Rating

23
2.0
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 Group of Securities
ISIN INE838Z01012
IPO Price ₹30 per equity share
Face Value ₹10 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE SME
₹30.00
₹37.50
₹35.65
₹37.50
₹35.85

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

KFintech Private Limited

Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://karisma.kfintech.com/

Palm Jewels IPO Reviews / Ratings

Palm Jewels IPO FAQs

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 is priced at ₹30 per equity share. The minimum order quantity is 4000 Shares.

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

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

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

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

You can apply in Palm Jewels 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.

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.

The Palm Jewels IPO listing date is on Tuesday, June 12, 2018.

Palm Jewels IPO Message Board

Ranked Members  Ranked Members

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68 Comments

34. traderji |Jun 12, 2018 12:59:38 PM
what a listing where issue is not fully subscribe and extended.
34.1. IPOANALYSIS |Jun 13, 2018 11:49:33 AM
IPO Guru IPO Guru (1900+ Posts, 1500+ Likes)
clear game of operator

this time first overseas changed the market maker to beeline
34.2. IPOANALYSIS |Jun 13, 2018 11:50:23 AM
IPO Guru IPO Guru (1900+ Posts, 1500+ Likes)
a great chance the undersubscribed portion is with underwriter and artifical jump of price in this one.
33. Small Investor |Jun 12, 2018 12:07:22 PM
IPO Guru IPO Guru (1500+ Posts, 800+ Likes)
whhhhhhhhhh
32. Finception |Jun 5, 2018 1:29:20 PM
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 3:18:18 PM
Great Job Machaye Hooooo
32.3. IPOFUNDA |Jun 7, 2018 2:50:17 PM
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 3:16:48 PM
Good Job .
30. Finception |Jun 5, 2018 1:21:05 PM
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 4:58:20 PM
IPO Guru IPO Guru (1500+ Posts, 800+ 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 12:39:03 PM
Palm Jewels Listed At 25% up, Dear IPOANALYSIS and small investor pls check
29.10. IPOANALYSIS |Jun 13, 2018 2:56:15 PM
IPO Guru IPO Guru (1900+ Posts, 1500+ 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
28. anujsme |Jun 4, 2018 1:26:56 AM
will list same as UHzaveri that is 28 % discount
28.4. IPOFUNDA |Jun 4, 2018 7:07:59 PM
@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 12:43:06 PM
Dear sir,
Palm jewels Listed at 25% up pls check
27. IPO Analysts |Jun 3, 2018 5:23:07 PM
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 4, 2018 12:52:05 AM
Avoid this issue
27.2. angel Investor |Jun 4, 2018 6:40:57 PM
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 6:31:24 PM
IPO Mentor IPO Mentor (600+ Posts, 800+ 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 10:49:37 AM
IPO Mentor IPO Mentor (600+ Posts, 800+ Likes)
Open 25% UP!!!
25. Abhishek Shahi |Jun 4, 2018 12:52:31 AM
dont look good
24. SecTheta |Jun 2, 2018 12:19:13 AM
Full on Farzi company... Big avoid..
23. anujsme |Jun 1, 2018 12:55:32 PM
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 4:27:42 PM
IPO Guru IPO Guru (1900+ Posts, 1500+ 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 11:31:09 PM
Top Contributor Top Contributor (400+ 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
22. sundervan |May 29, 2018 3:22:22 PM
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 1:03:59 AM
Are you an expert to suggest such fraud company shares?
21. IPOFUNDA |May 29, 2018 7:15:50 PM
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 10:35:23 PM
Thanks IPOFUNDA.. Tum hiii lagaa do yeh farzi IPO ko.. You are great thug!!
21.2. Dr Sandip Datta Roy |Jun 1, 2018 1:01:57 AM
Fundamentally strong company????.....say it again. Since when you started stock analysis? Do Not fool the retail onvestors.
20. Dr Sandip Datta Roy |Jun 1, 2018 12:56:18 AM
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 11:23:54 AM
IPO Guru IPO Guru (1500+ Posts, 800+ 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 3:03:42 PM
IPO Guru IPO Guru (1500+ Posts, 800+ Likes)
should be cancel this ipo due to not fully subscribe
18.1. S T |May 30, 2018 5:14:11 PM
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 3:11:37 PM
IPO Guru IPO Guru (1900+ Posts, 1500+ 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 10:37:54 AM
bhaiyo bolo gali gali mein shor hai first oiversease aur yehh jewel companies chor hai
16.2. S T |May 29, 2018 10:38:11 PM
@sundervan: Oye thagi, chor saale tera number de.. Bos***ke pel dunga... Ma****od looting innocent investors!!
16.3. IPOANALYSIS |May 30, 2018 3:07:43 PM
IPO Guru IPO Guru (1900+ Posts, 1500+ 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.
15. S T |May 29, 2018 10:43:25 PM
INVESTORS BE CAREFUL: "sundervan" & "IPOFUNDA" are thugs and part of farzi companies like Palm Jewels & UH Zaveri