Fixed Price IPO | ₹9 Cr | Listed at BSE SME | Fri, May 25, 2018 - Mon, Jun 4, 2018
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 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) (based on upper price). The minimum lot size for investment in 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 Open
Fri, May 25, 2018
IPO Close
Mon, Jun 4, 2018
Issue Price
₹30 per share
Market Cap (Pre-IPO)
₹22.15 Cr
| IPO Date | 25 May to 4 Jun, 2018 |
| Listed on | Tue, Jun 12, 2018 |
| Face Value | ₹10 per share |
| Issue Price | ₹30 per share |
| Lot Size | 4,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 29,68,000 shares (agg. up to ₹9 Cr) |
| Reserved for Market Maker | 1,52,000 shares Beeline Broking Ltd. (agg. up to ₹0.4560 Cr) |
| Fresh Issue (Ex Market Maker) | 28,16,000 shares (agg. up to ₹8 Cr) |
| Net Offered to Public | 28,16,000 shares (agg. up to ₹8 Cr) |
| Share Holding Pre Issue | 44,15,058 shares |
| Share Holding Post Issue | 73,83,058 shares |
| BSE Script Code | 541444 |
| ISIN | INE838Z01012 |
Palm Jewels IPO comprises a total issue size of 29,68,000 shares. The net offer to the public is 28,16,000 shares, after excluding 1,52,000 shares allotted on a firm basis. Of the Net offer 14,08,000 (50.00%) allocated to NII 14,08,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 14,08,000 | 50.00% | 47.44% |
| Retail Shares Offered | 14,08,000 | 50.00% | 47.44% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,52,000 | 5.12% | |
| Total Shares Offered | 29,68,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 4,000 shares and in multiples thereof.
| 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.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To meet working capital requirement | 8.65 |
The Palm Jewels IPO is subscribed 1.16 times on June 4, 2018 5:00:00 PM (Day 7). The public issue subscribed 1.5 times in the retail category, [.] times in the QIB category, and 0.82 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 0.82 | 14,08,000 | 11,52,000 |
| Retail | 1.5 | 14,08,000 | 21,12,000 |
| Total | 1.16 | 28,16,000 | 32,64,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue management fees including fees and reimbursements of Market Making fees and payment to other intermediaries such as Legal Advisors, Registrars and other out of pocket expenses. | 0.20 |
| 2 | Printing & Stationery, Distribution, Postage, etc | 0.03 |
| 3 | Listing Fees, Market Regulatory & other expenses | 0.02 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹30.00 |
| Open | ₹37.50 |
| Low | ₹35.65 |
| High | ₹37.50 |
| Last Trade | ₹35.85 |
Lead Manager Reports
Palm Jewels IPO is a SME IPO of 29,68,000 equity shares of the face value of ₹10 aggregating up to ₹9 Crores. The issue is priced at ₹30 per share. The minimum order quantity is 4000.
The IPO opens on Fri, May 25, 2018, and closes on Mon, Jun 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 Fri, May 25, 2018 and closes on Mon, Jun 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 Thu, Jun 7, 2018. Check the Palm Jewels IPO allotment status.
The Palm Jewels IPO listing date is on Tue, Jun 12, 2018.
