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Incorporated in 2001, Gujarat based Sonam Clock Limited is a company engaged in clock manufacturing. The company offers a wide range of table and wall clocks at various price points across the budget, mid-level and premium styles. As on February'18, it is offering LED digital clocks, LCD clocks, light sensor clocks, pendulum clocks, musical clocks, rotating pendulum musical clocks, sweep clocks, office clocks, designer clocks, alarm clocks, table clocks and regular clocks.
Sonam also offers customized corporate clocks in bulk quantities for corporate gifting purpose. The products are sold mainly to clock dealers, retailers, corporates, gifts and novelties stores, through which it reaches to the end-consumers. The products are sold under the brand name of Sonam, ampm, and Lotus. In F.Y. 2016-17, the net revenue from operations comprised of Rs. 3792.85 lakhs of with approximately 40% comprised of export sales to Middle - East countries such as Dubai and Iraq. The company's Manufacturing facility is located in Morbi, Gujarat and has at present installed production capacity of approximately 72 lakhs p.a. for clocks and 240 lakhs p.a. for clock movements. It is also engaged in the sale of clock parts which includes clock movements, clock cases etc.
The Company has employed 304 permanent full-time employees (including senior Management) at various levels of the Organization.
| 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 | 3,493.92 | 3,416.94 | 2,852.49 | 3,007.50 | 2,713.59 | |
| Total Revenue | 3,903.16 | 3,682.35 | 3,405.67 | 3,355.35 | 3,371.47 | |
| Profit After Tax | 80.70 | 268.11 | 40.99 | 57.52 | 45.53 | |
The objects of the Issue are-
1. Funding the Working Capital Requirements of the Company
2. Repayment of Unsecured Loan availed by the Company
3. General Corporate Expenses
4. Issue Expenses
| IPO Date | Jun 1, 2018 to Jun 6, 2018 |
| Listing Date | Thursday, June 14, 2018 |
| Face Value | ₹10 per share |
| Price | ₹36 per share |
| Lot Size | 3000 Shares |
| Issue Size | 2,808,000 shares of ₹10 (aggregating up to ₹10.11 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Company Promoters | The Promoters of the Company are Mr. Jayeshbhai Chhabildas Shah and Mrs. Deepaben Jayeshbhai Shah. Mr. Jayeshbhai Chhabildas Shah holds 62,39,200 Equity Shares and Mrs. Deepaben Jayeshbhai Shah holds 4,80,000 Equity Shares of the Company. They will continue to hold the majority of the post-issue paid-up equity share capital of the Company. |
The Sonam Clock IPO lot size is 3000 shares. A retail-individual investor can apply for up to 1 lots (3000 shares or ₹108,000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹108,000 |
| Retail (Max) | 1 | 3000 | ₹108,000 |
Although on the prima facie issue pricing appears reasonable, concern over sustainability of its super profits of first nine months of FY18 and its listed peer reporting losses for FY17 and having no trades for over two months hints at caution. Considering these cash surplus risk savvy investors may consider investment at their own risk.
Read detail review...The Sonam Clock IPO is subscribed 2.42 times on Jun 6, 2018 5:00:00 PM. The public issue subscribed 3.80 times in the retail category, times in the QIB category, and 1.04 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| NII | 1.04 |
| Retail | 3.80 |
| Total | 2.42 |
| Listing Date | Thursday, June 14, 2018 |
| BSE Script Code | |
| NSE Symbol | SONAMCLOCK |
| Listing In | |
| ISIN | INE00LM01011 |
| IPO Price | ₹36 per share |
| Face Value | ₹10 per share |
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Sonam Clock Limited
: Survey No. 337/p, Morbi Rajkot Highway
Village Lajai, Taluka Tankara,
District Morbi - Gujarat - 363641, India
Phone: +91-2822-285017
Email: info@sonamquartz.com
Website: http://www.sonamquartz.com/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com
Are you an SME company looking for an IPO to raise funds and get listed in the stock market? We can help. Contact us today... SME IPO Enquiry Form
Sonam Clock IPO is a SME IPO of 2,808,000 equity shares of the face value of ₹10 aggregating up to ₹10.11 Crores. The issue is priced at ₹36 per share. The minimum order quantity is 3000 Shares.
The IPO opens on Jun 1, 2018, and closes on Jun 6, 2018.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
The Sonam Clock IPO opens on Jun 1, 2018 and closes on Jun 6, 2018.
Sonam Clock IPO lot size is 3000 Shares and the minimum order quantity is .
You can apply in Sonam Clock 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 Sonam Clock IPO will be done on [.], and the allotted shares will be credited to your demat account by [.]. Check the Sonam Clock IPO allotment status.
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