Shoora Designs IPO will open for subscription from 17 August 2023. the company aims for an issue size of ₹2.03 Cr through this IPO.
Company Overview
| Full name | Shoora Designs Limited |
| Sector | Diamond & Jewellery |
| Industry | Diamond & Jewellery |
| Company Website | https://www.shooradesigns.com/ |
About Company
Since 2022, the company is engaged in the business of procuring rough diamonds through suppliers, internally planning and mapping rough diamonds, and out-souring the process of cleaving, laser cutting, and polishing from local job-workers in the domestic market of Surat. The company sells the said polished cut diamonds to wholesalers or retailers with business concentration pre-dominantly in Surat, Gujarat, and the newly-explored market of Mumbai, Maharashtra.
The revenue from the sale of the diamonds is generated through the offline market, and through an online platform accessible at https://www.shooradesigns.com/shop/. The online market facilitates and provides customers with an option to browse a variety of diamonds through its catalog. This catalog also provides the customers with the price data for each of the products, which enables the targeted investor to make a well-informed decision.
The Objective of the Issue
- The company intends to utilize the net proceeds from the issue towards working capital requirements and general corporate purposes.
IPO Timetable
| IPO Opening date | 17 August 2023 |
| IPO Closing | 21 August 2023 |
| Basis of Allotment | 24 August 2023 |
| Initiation Refund | 25 August 2023 |
| Credit to Demat Account | 28 August 2023 |
| Listing Date | 29 August 2023 |
IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹2.03 Cr – 424,000 shares |
| Fresh Issue | ₹2.03 Cr – 424,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer Price | ₹48 per share |
| Lot size | 3000 Shares |
| Market Maker portion | 27,000 shares |
| Listing Exchange | BSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹144,000 |
| Retail (Max) | 1 | 3000 | ₹144,000 |
| HNI (Min) | 2 | 6,000 | ₹288,000 |
Reservation Details
| Other Shares Offered | 50% |
| Retail Shares Offered | 50% |
Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 0.00 | 1,625.78 | 21,059.46 |
| Expenses | 50.00 | 1,114.44 | 19,508.27 |
| Net income | (50.00) | 391.39 | 1,145.63 |
Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | (0.06) | 0.50 | 1.34 |
| PE ratio | – | – | 35.82 |
| RONW (%) | (100.00) | 88.67 | 7.22 |
| NAV | – | 5.00 | 14.74 |
| ROCE (%) | (100.00) | 116.30 | 9.89 |
| EBITDA (%) | – | 37.42 | 7.79 |
| Debt/Equity | NA | NA | 0.00 |
Company Promoters
- Mr. Satish K Kansodariya
- Mrs. Sejalben Satish Kansodariya
- Mr. Rajeshbhai Labhubhai Mer
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 71.77% |
Lead Manager(s)
SWARAJ SHARES AND SECURITIES PRIVATE LIMITED
304, A Wing, 215 Atrium Near Courtyard Marriot,
Andheri Kurla Road, Andheri East, Mumbai – 400093
Maharashtra, India
Phone: +91-22-6964-9999
Email: compliance@swarajshares.com
Website: www.swarajshares.com
IPO Registrar
KFIN TECHNOLOGIES LIMITED
Selenium, Tower-B, Plot 31& 32,
Gachibowli Financial District Nanakramguda,
Hyderabad – 500032, Telangana, India
Phone: +91-40-6716-2222
Email: shooradesigns.ipo@kfintech.com.
Website: www.kfintech.com
Contact Details
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, Gujarat, India
Phone: +91 9004746705
Email: compliance@shooradesigns.com
Website: www.shooradesigns.com
Allotment Status
Shoora Designs IPO allotment status will be available on the KFin Tech website. Click on this link to get allotment status.
Final thoughts
———- is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and do subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
