Free Equity Delivery
Flat ₹10 per Trade in Intraday & F&O
Palm Jewels IPO is a fixed price issue of ₹8.90 crores. The issue is entirely a fresh issue of 0.30 crore shares of ₹8.90 crore.
Palm Jewels IPO bidding started from May 25, 2018 and ended on Jun 4, 2018. The allotment for Palm Jewels IPO was finalized on Jun 6, 2018. The shares got listed on BSE SME on Jun 12, 2018.
Palm Jewels IPO price is ₹30.00 per share . The lot size for an application is 4,000. The minimum amount of investment required by an individual investor (retail) is ₹1,20,000 (4000 shares). The minimum lot size investment for HNI is 2 lots (8,000 shares), amounting to ₹2,40,000.
First Overseas Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The market maker of the company is Beeline Broking Ltd..
Refer to Palm Jewels IPO RHP for detailed Information.
| IPO Date | May 25, 2018 to June 4, 2018 |
| Listing Date | June 12, 2018 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹30 per share |
| Lot Size | 4,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 29,68,000 shares (aggregating up to ₹8.90 Cr) |
| Reserved for Market Maker | 1,52,000 shares Beeline Broking Ltd. (aggregating up to ₹0.4560 Cr) |
| Net Offered to Public | 28,16,000 shares (aggregating up to ₹8.45 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 44,15,058 shares |
| Share Holding Post Issue | 73,83,058 shares |
Palm Jewels IPO offers total 29,68,000 shares. Out of which 14,08,000 (47.44%) allocated to NII, 14,08,000 (47.44%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,52,000 (5.12%) |
| NII (HNI) Shares Offered | 14,08,000 (47.44%) |
| Retail Shares Offered | 14,08,000 (47.44%) |
| Total Shares Offered | 29,68,000 (100.00%) |
Palm Jewels IPO opens on May 25, 2018, and closes on June 4, 2018.
| IPO Open Date | Fri, May 25, 2018 |
| IPO Close Date | Mon, Jun 4, 2018 |
| Tentative Allotment | Wed, Jun 6, 2018 |
| Initiation of Refunds | Thu, Jun 7, 2018 |
| Credit of Shares to Demat | Thu, Jun 7, 2018 |
| Tentative Listing Date | Tue, Jun 12, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Jun 4, 2018 |
Investors can bid for a minimum of 4,000 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 | 4,000 | ₹1,20,000 |
| Retail (Max) | 1 | 4,000 | ₹1,20,000 |
| HNI (Min) | 2 | 8,000 | ₹2,40,000 |
Incorporated in 2005, Gujarat based Palm Jewels Limited is a company engaged in the wholesale business of gold jewelry. The company sells gold based chains, bracelets, and necklaces. It outsources the manufacturing of the jewelry through job workers based in Ahmedabad and Mumbai. The major raw material used for making the products is gold & silver. Gold bars and other necessary material are provided to the job workers who are based either in Ahmedabad and Mumbai.
The finished jewelry is sold by the company's marketing and sales team directly to other jewelry stores. The jewelry is widely sold throughout Gujarat only through B2B marketing and/ or Direct/Outbound marketing strategy. Some of the major customers include M/s. Zaverat, Mehta Ornaments Private Limited, Shah Chinubhai Ramniklal Co., and Shubhlaxmi Jewellers, etc.
Palm Jewels currently has 11 employees on its payroll.
| 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 | 163.08 | 36.62 | 35.93 | 34.87 | 33.54 | |
| Total Revenue | 552.38 | 157.48 | 97.91 | 41.63 | 118.89 | |
| Profit After Tax | 1.54 | 0.53 | (0.35) | 0.19 | 0.14 | |
The Company Palm Jewels 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 | To meet working capital requirement | 8.65 |
[Dilip Davda] <p>Considering status of prevailing sentiments for jewellery sector and exorbitant pricing of the issue, investors may give it a miss. </p> Read detail review...
| Listing Date | June 12, 2018 |
| BSE Script Code | 541444 |
| NSE Symbol | |
| ISIN | INE838Z01012 |
| Final Issue Price | ₹30 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹30.00 |
| Open | ₹37.50 |
| Low | ₹35.65 |
| High | ₹37.50 |
| Last Trade | ₹35.85 |
Palm Jewels Ltd.
G.F-37, Super Mall
Nr. Diamond, C. O. Hou. Soc. Ltd, Nr. Lal Bunglow
C. G. Road
Ahmedabad, Gujarat, 380001
Phone: +91 79 40052056
Email: compliance.pjl@gmail.com
Website: http://www.palmjewels.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://ipostatus.kfintech.com/
Palm Jewels IPO is a SME IPO of 29,68,000 equity shares of the face value of ₹10 aggregating up to ₹8.90 Crores. The issue is priced at ₹30 per share. The minimum order quantity is 4000.
The IPO opens on May 25, 2018, and closes on June 4, 2018.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Palm Jewels IPO using UPI as a payment gateway. Zerodha customers can apply in Palm Jewels IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Palm Jewels IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Palm Jewels IPO opens on May 25, 2018 and closes on June 4, 2018.
Palm Jewels IPO lot size is 4000, and the minimum amount required for application is ₹1,20,000.
You can apply in Palm Jewels 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 Palm Jewels IPO will be done on Wednesday, June 6, 2018, and the allotted shares will be credited to your demat account by Thursday, June 7, 2018. Check the Palm Jewels IPO allotment status.
The Palm Jewels IPO listing date is on Tuesday, June 12, 2018.
Useful Articles
RHP