Zerodha (Trading & Demat Account)
FREE Equity Delivery and MF
Flat ₹20/trade Intra-day/F&O
Zerodha (Trading & Demat Account)
FREE Equity Delivery and MF
Flat ₹20/trade Intra-day/F&O
|
|
Shoora Designs IPO is a fixed price issue of Rs 2.03 crores. The issue is entirely a fresh issue of 4.23 lakh shares.
Shoora Designs IPO bidding started from August 17, 2023 and ended on August 21, 2023. The allotment for Shoora Designs IPO was finalized on Thursday, August 24, 2023. The shares got listed on BSE SME on August 29, 2023.
Shoora Designs IPO price is ₹48 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹144,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹288,000.
Swaraj shares and securities private limited is the book running lead manager of the Shoora Designs IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Shoora Designs IPO is Rikhav Securities.
Refer to Shoora Designs IPO RHP for detailed information.
| IPO Date | August 17, 2023 to August 21, 2023 |
| Listing Date | August 29, 2023 |
| Face Value | ₹10 per share |
| Price | ₹48 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 424,000 shares (aggregating up to ₹2.03 Cr) |
| Fresh Issue | 423,000 shares (aggregating up to ₹2.03 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 1,075,662 |
| Share holding post issue | 1,498,662 |
| Market Maker portion | 27,000 shares Rikhav Securities |
Shoora Designs IPO offers 423,000 shares. 198,000 (46.81%) to NII, 198,000 (46.81%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 27,000 (6.38%) |
| Other Shares Offered | 198,000 (46.81%) |
| Retail Shares Offered | 198,000 (46.81%) |
| Total Shares Offered | 423,000 (100%) |
Shoora Designs IPO opens on August 17, 2023, and closes on August 21, 2023.
| IPO Open Date | Thursday, August 17, 2023 |
| IPO Close Date | Monday, August 21, 2023 |
| Basis of Allotment | Thursday, August 24, 2023 |
| Initiation of Refunds | Friday, August 25, 2023 |
| Credit of Shares to Demat | Monday, August 28, 2023 |
| Listing Date | Tuesday, August 29, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 21, 2023 |
Investors can bid for a minimum of 3000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹144,000 |
| Retail (Max) | 1 | 3000 | ₹144,000 |
| HNI (Min) | 2 | 6,000 | ₹288,000 |
| Lot Size Calculator | |||
Mr. Satish K Kansodariya, Mrs. Sejalben Satish Kansodariya, and Mr. Rajeshbhai Labhubhai Mer are the promoters of the company.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 71.77% |
Incorporated in 2021, Shoora Designs Limited is engaged in the business of manufacturing and trading diamonds and jewelry.
The company manufactures natural diamonds and jewelry mainly focusing on Natural Lab Grown Diamond and Jewelry.
Shoora procures natural diamonds through suppliers and outsources cleaving, laser cutting, and polishing services from local job-workers in the domestic market of Surat while planning and mapping rough diamonds remain in-house. Its major clients come from wholesalers and retailers with business concentration predominantly in Surat, Gujarat, and Mumbai, Maharashtra.
Shoora Designs' jewelry is available on both offline market and online platforms.
The company recorded Rs. 105.58 lacks revenue from operations for the nine-month period ended March 31, 2023, and Rs. 162.58 lacks for the Financial Year ended March 31, 2022.
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 0.75 | 15.03 | 168.99 |
| Revenue | 16.26 | 210.61 | |
| Profit After Tax | -0.50 | 3.91 | 11.46 |
| Net Worth | 0.50 | 4.41 | 158.59 |
| Reserves and Surplus | -0.50 | 3.41 | 51.02 |
| Total Borrowing | 0.30 |
The market capitalization of Shoora Designs IPO is Rs 7.19 Cr.
| KPI | Values |
|---|---|
| ROE | 14.06% |
| ROCE | 9.89% |
| RoNW | 7.22% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 1.34 | |
| P/E (x) | 35.82 |
The company intends to utilize the net proceeds from the issue towards working capital requirements and general corporate purposes.
[Dilip Davda] The company operates in a highly competitive and fragmented segment with many players around. It has posted minuscule financial performance for the last two fiscals. Based on FY23 earnings, the issue is greedily priced. Tiny paid-up equity capital post-listing indicates a longer gestation period for migration to the mainboard. There is no harm in skipping this pricey issue. Read detail review...
The Shoora Designs IPO is subscribed 64.52 times on August 21, 2023 7:02:00 PM. The public issue subscribed 93.73 times in the retail category, times in the QIB category, and 34.68 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 34.68 |
| Retail | 93.73 |
| Total | 64.52 |
Total Application : 8,765 (132.80 times)
| Listing Date | August 29, 2023 |
| BSE Script Code | 543970 |
| NSE Symbol | |
| ISIN | INE0OJZ01019 |
| Final Issue Price | ₹48 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹48.00 |
| ₹91.20 |
| ₹91.20 |
| ₹95.76 |
| ₹95.76 |
Shoora Designs Limited
Diamond Apartments Co-op Housing Society,
LT H No. 7/3388/A, 6th floor,
C/1, 601, Haththupura char rasta, Surat – 395003
Phone: +91 9004746705
Email: compliance@shooradesigns.com
Website: https://www.shooradesigns.com/
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: shooradesigns.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
SME Company Owners
We could help you get listed on the stock market.
Check our SME IPO Guide 
Shoora Designs IPO is a SME IPO of 424,000 equity shares of the face value of ₹10 aggregating up to ₹2.03 Crores. The issue is priced at ₹48 per share. The minimum order quantity is 3000 Shares.
The IPO opens on August 17, 2023, and closes on August 21, 2023.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Shoora Designs IPO using UPI as a payment gateway. Zerodha customers can apply in Shoora Designs IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Shoora Designs IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Shoora Designs IPO opens on August 17, 2023 and closes on August 21, 2023.
Shoora Designs IPO lot size is 3000 Shares, and the minimum amount required is ₹144,000.
You can apply in Shoora Designs 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, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Shoora Designs IPO will be done on Thursday, August 24, 2023, and the allotted shares will be credited to your demat account by Monday, August 28, 2023. Check the Shoora Designs IPO allotment status.
Useful Articles
FREE Intraday Trading (Eq, F&O)
Flat ₹20 Per Trade in F&O
|
|
RHP
IPO Mentor (600+ Posts, 200+ Likes)
Top Contributor (500+ Posts, 100+ Likes)
IPO Guru (2300+ Posts, 3600+ Likes)
Disc: Didn't apply due to high subs (anyway no allotment till date in SMEs, then why even I apply this co) and didn't invest.
Typing this because many on the counter were bullish on this trapping greedy investors.