Utssav CZ Gold Jewels IPO
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 31 Jul 24 – 2 Aug 24 | ₹1,24,800 | 1,200 | ₹104 – ₹110 |
Issue Size | IPO Doc |
|---|---|
| 69.50Cr | RHP PDF |
About Utssav CZ Gold Jewels Ltd
| Founded in | 2007 |
| Managing director | Mr. Pankajkumar H Jagawat |
| Parent organisation | Utssav CZ Gold Jewels Ltd |
Utssav CZ Gold Jewels Ltd specializes in designing, producing, wholesaling, and exporting gold jewelry adorned with cubic zirconia stones. They use 18K, 20K, and 22K gold, including rose gold. Their product lineup features rings, earrings, pendants, bracelets, necklaces, watches, and brooches.
Their main manufacturing facility is in Andheri East, Mumbai, capable of producing up to 1,500 kg of jewelry annually. They cater to customers across 17 states and 2 Union Territories in India, as well as 2 countries abroad.
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Founded in November 2007, Utssav CZ Gold Jewels Ltd has carved a niche in the jewelry market by offering a wide range of lightweight jewelry, perfect for both daily and fashion wear. They blend traditional and contemporary designs to meet diverse consumer preferences.
The company prides itself on innovation, with a team of 15 CAD designers who create about 400 new designs every month to stay ahead of market trends. As of March 31, 2024, Utssav CZ Gold Jewels Ltd employs 69 permanent staff members.
IPO Details
To fund its growth, Utssav CZ Gold Jewels Ltd is launching an IPO to raise Rs 69.50 crores by issuing 63.18 lakh new shares.
The IPO opened for subscription on July 31, 2024, and will close on August 2, 2024. The price band is set at ₹104 to ₹110 per share.
Retail investors need to invest a minimum of ₹132,000 (1,200 shares), while high-net-worth individuals (HNIs) need to invest at least ₹264,000 (2,400 shares).
Choice Capital Advisors Pvt Ltd is the lead manager for the IPO, Bigshare Services Pvt Ltd is the registrar, and Choice Equity Broking is the market maker. The company expects to list the shares on the NSE SME on August 7, 2024.
For more details, refer to the Utssav CZ Gold Jewels IPO RHP.
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Financial Information
In the financial year 2023, their 18K and 22K gold jewelry made up 73.27% and 24.94% of their total sales, respectively. For the ten months ending January 31, 2024, these categories accounted for 74.22% and 24.67% of sales.
| Period Ended | 31 Jan 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 12,333.33 | 8,215.83 | 5,616.49 | 4,423.40 |
| Revenue | 27,733.20 | 23,971.52 | 12,342.53 | 12,030.66 |
| Profit After Tax | 1,073.76 | 714.96 | 333.95 | 161.87 |
| Net Worth | 3,311.00 | 2,237.24 | 1,509.33 | 1,175.38 |
| Reserves and Surplus | 2,891.00 | 1,817.24 | 1,089.33 | 755.38 |
| Total Borrowing | 7,703.16 | 4,966.02 | 3,601.97 | 3,016.08 |
| Amount in ₹ Lakhs | ||||
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IPO Timeline
Utssav Cz Gold Jewels IPO opens on July 31, 2024, and closes on August 2, 2024.
| IPO Open Date | Wednesday, July 31, 2024 |
| IPO Close Date | Friday, August 2, 2024 |
| Basis of Allotment | Monday, August 5, 2024 |
| Initiation of Refunds | Tuesday, August 6, 2024 |
| Credit of Shares to Demat | Tuesday, August 6, 2024 |
| Listing Date | Wednesday, August 7, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 2, 2024 |
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IPO FAQs
Utssav CZ Gold Jewels Ltd specializes in the design, production, wholesale, and export of 18K, 20K, and 22K cubic zirconia (CZ) gold jewelry, including rose gold. Their product range includes rings, earrings, pendants, bracelets, necklaces, watches, and brooches.
Their main manufacturing hub is located in Andheri East, Mumbai.
The company’s manufacturing facility can produce up to 1,500 kg of jewelry each year.
The company was incorporated in November 2007.
The IPO aims to raise Rs 69.50 crores by issuing 63.18 lakh new shares.
The IPO opened for subscription on July 31, 2024, and will close on August 2, 2024.
The IPO price band is set at ₹104 to ₹110 per share.
Retail investors need to invest a minimum of ₹132,000, which is equivalent to 1,200 shares.
HNIs need to invest at least ₹264,000, which is equivalent to 2,400 shares.
Choice Capital Advisors Pvt Ltd is the book-running lead manager for the IPO.
Bigshare Services Pvt Ltd is the registrar for the issue.
The company expects to list the shares on the NSE SME on August 7, 2024.
