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Ashapuri Gold Ornament IPO is a fixed price issue of ₹29.33 crores. The issue is entirely a fresh issue of 0.58 crore shares of ₹29.33 crore.
Ashapuri Gold Ornament IPO bidding started from Mar 13, 2019 and ended on Mar 18, 2019. The allotment for Ashapuri Gold Ornament IPO was finalized on Mar 22, 2019. The shares got listed on BSE SME on Mar 27, 2019.
Ashapuri Gold Ornament IPO price is ₹51.00 per share . The lot size for an application is 2,000. The minimum amount of investment required by an individual investor (retail) is ₹1,02,000 (2000 shares). The minimum lot size investment for HNI is 2 lots (4,000 shares), amounting to ₹2,04,000.
Fedex Securities Pvt.Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The market maker of the company is NNM Securities Pvt.Ltd..
Refer to Ashapuri Gold Ornament IPO RHP for detailed Information.
| IPO Date | March 13, 2019 to March 18, 2019 |
| Listing Date | March 27, 2019 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹51 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 57,50,000 shares (aggregating up to ₹29.33 Cr) |
| Reserved for Market Maker | 2,98,000 shares NNM Securities Pvt.Ltd. (aggregating up to ₹1.52 Cr) |
| Net Offered to Public | 54,52,000 shares (aggregating up to ₹27.81 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,55,43,000 shares |
| Share Holding Post Issue | 2,12,93,000 shares |
Ashapuri Gold IPO offers total 57,50,000 shares. Out of which 27,26,000 (47.41%) allocated to NII, 27,26,000 (47.41%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 2,98,000 (5.18%) |
| NII (HNI) Shares Offered | 27,26,000 (47.41%) |
| Retail Shares Offered | 27,26,000 (47.41%) |
| Total Shares Offered | 57,50,000 (100.00%) |
Ashapuri Gold Ornament IPO opens on March 13, 2019, and closes on March 18, 2019.
| IPO Open Date | Wed, Mar 13, 2019 |
| IPO Close Date | Mon, Mar 18, 2019 |
| Tentative Allotment | Fri, Mar 22, 2019 |
| Initiation of Refunds | Mon, Mar 25, 2019 |
| Credit of Shares to Demat | Tue, Mar 26, 2019 |
| Tentative Listing Date | Wed, Mar 27, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Mar 18, 2019 |
Investors can bid for a minimum of 2,000 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2,000 | ₹1,02,000 |
| Retail (Max) | 1 | 2,000 | ₹1,02,000 |
| HNI (Min) | 2 | 4,000 | ₹2,04,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2008, Ashapuri Gold Ornament Limited is engaged in the business of wholesale trading of gold jewellery. Company's products portfolio includes Ring, Nose Ring, Bangles, Earring, Anklets, Necklace, Pendant etc. They sell antique, traditional, bridal contemporary and combination designs which cater diversified customer segments.
The company is having a showroom of 2945 sq. feet in Ahmedabad. The company only sell Hallmark certified jewellery and those are manufactured on Job work basis at Ahmedabad and Rajkot.
Ashapuri has also entered into a partnership with Blue-Onxy Lifestyle which carrying business of Branded Readymade Garments. They also have the plan to open multiple chains of showrooms of Readymade Garments over a period of time in various cities across Gujarat.
It currently employs 9 employees on its payroll.
The competitive strengths of the company are:
• More than 10-years of experience
• Showrooms at prime locations in Ahmedabad
• A wide range of products
• Unique and antique designs
| Particulars | For the year/period ended (in Rs. Lakhs) | ||||
|---|---|---|---|---|---|
| 30-Nov-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | ||
| Total Assets | 1,609.52 | 1,454.00 | 1,557.90 | 1,684.27 | |
| Total Revenue | 4,951.27 | 4,692.92 | 3,729.42 | 5,562.73 | |
| Profit After Tax | 31.85 | 7.30 | 3.97 | 6.40 | |
The Company Ashapuri Gold Ornament IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Establishment of jewellery manufacturing unit | 1.50 |
| 2 | Investment in partnership firm | 1.80 |
| 3 | Meeting working capital requirements | 18.00 |
| 4 | General corporate purposes | 7.25 |
[Dilip Davda] <p>The issue is exorbitantly priced. It has just one showroom for its core business 9 employees. It is now planning partnership in non-related business of readymade garments. Financial data is non-encouraging. As on 31.12.18, it had a total strength of 9 employees including management. There is no harm in giving this issue a miss</p> Read detail review...
| Listing Date | March 27, 2019 |
| BSE Script Code | 542579 |
| NSE Symbol | |
| ISIN | INE05FR01011 |
| Final Issue Price | ₹51 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹51.00 |
| Open | ₹50.00 |
| Low | ₹48.00 |
| High | ₹52.45 |
| Last Trade | ₹51.00 |
Ashapuri Gold Ornament Ltd.
109 to 112A, 1st Floor Supermall
Nr. Lal Bunglow
C.G.Road
Ahmedabad, Gujarat, 380009
Phone: 079-26462171
Email: info@ashapurigold.com
Website: http://www.ashapurigold.com
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Ashapuri Gold Ornament IPO is a SME IPO of 57,50,000 equity shares of the face value of ₹10 aggregating up to ₹29.33 Crores. The issue is priced at ₹51 per share. The minimum order quantity is 2000.
The IPO opens on March 13, 2019, and closes on March 18, 2019.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Ashapuri Gold Ornament IPO using UPI as a payment gateway. Zerodha customers can apply in Ashapuri Gold Ornament IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Ashapuri Gold Ornament IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Ashapuri Gold Ornament IPO opens on March 13, 2019 and closes on March 18, 2019.
Ashapuri Gold Ornament IPO lot size is 2000, and the minimum amount required for application is ₹1,02,000.
You can apply in Ashapuri Gold Ornament IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Ashapuri Gold Ornament IPO will be done on Friday, March 22, 2019, and the allotted shares will be credited to your demat account by Tuesday, March 26, 2019. Check the Ashapuri Gold Ornament IPO allotment status.
The Ashapuri Gold Ornament IPO listing date is on Wednesday, March 27, 2019.
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