Fixed Price IPO | ₹2 Cr | Listed at BSE SME | Thu, Aug 17, 2023 - Mon, Aug 21, 2023
Shoora Designs IPO is a fixed price issue of ₹2.03 crores. The issue is entirely a fresh issue of 0.04 crore shares of ₹2.03 crore.
Shoora Designs IPO bidding started from Aug 17, 2023 and ended on Aug 21, 2023. The allotment for Shoora Designs IPO was finalized on Aug 24, 2023. The shares got listed on BSE SME on Aug 29, 2023.
Shoora Designs IPO price is ₹48 per share. The lot size for an application is 3,000. The minimum amount of investment required by an individual investor (retail) is ₹1,44,000 (3000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (6,000 shares), amounting to ₹2,88,000.
Swaraj shares & securities Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue. The Market Maker of the company is Rikhav Securities Ltd..
Refer to Shoora Designs IPO RHP for detailed Information.
IPO Open
Thu, Aug 17, 2023
IPO Close
Mon, Aug 21, 2023
Issue Price
₹48 per share
Market Cap (Pre-IPO)
₹7.19 Cr
| IPO Date | 17 to 21 Aug, 2023 |
| Listed on | Tue, Aug 29, 2023 |
| Face Value | ₹10 per share |
| Issue Price | ₹48 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 4,23,000 shares (agg. up to ₹2 Cr) |
| Reserved for Market Maker | 27,000 shares Rikhav Securities Ltd. (agg. up to ₹0.1296 Cr) |
| Fresh Issue (Ex Market Maker) | 3,96,000 shares (agg. up to ₹2 Cr) |
| Net Offered to Public | 3,96,000 shares (agg. up to ₹2 Cr) |
| Share Holding Pre Issue | 10,75,662 shares |
| Share Holding Post Issue | 14,98,662 shares |
| BSE Script Code | 543970 |
| ISIN | INE0OJZ01019 |
Shoora Designs IPO comprises a total issue size of 4,23,000 shares. The net offer to the public is 3,96,000 shares, after excluding 27,000 shares allotted on a firm basis. Of the Net offer 1,98,000 (50.00%) allocated to NII 1,98,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 1,98,000 | 50.00% | 46.81% |
| Retail Shares Offered | 1,98,000 | 50.00% | 46.81% |
| Firm Reservations | |||
| Market Maker Shares Offered | 27,000 | 6.38% | |
| Total Shares Offered | 4,23,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,44,000 |
| Retail (Max) | 1 | 3,000 | ₹1,44,000 |
| HNI (Min) | 2 | 6,000 | ₹2,88,000 |
Incorporated in 2021, Shoora Designs Limited is engaged in the business of manufacturing and trading diamonds and jewelry.
The company manufactures natural diamonds and jewelry mainly focusing on Natural Lab Grown Diamond and Jewelry.
Shoora procures natural diamonds through suppliers and outsources cleaving, laser cutting, and polishing services from local job-workers in the domestic market of Surat while planning and mapping rough diamonds remain in-house. Its major clients come from wholesalers and retailers with business concentration predominantly in Surat, Gujarat, and Mumbai, Maharashtra.
Shoora Designs' jewelry is available on both offline market and online platforms.
The company recorded Rs. 105.58 lacks revenue from operations for the nine-month period ended March 31, 2023, and Rs. 162.58 lacks for the Financial Year ended March 31, 2022.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 1.69 | 0.15 | 0.01 |
| Total Income | 2.11 | 0.16 | |
| Profit After Tax | 0.11 | 0.04 | -0.01 |
| NET Worth | 1.59 | 0.04 | 0.01 |
| Reserves and Surplus | 0.51 | 0.03 | -0.01 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Working capital requirements | 1.35 |
| 2 | General Corporate Purposes | 0.43 |
| KPI | |
|---|---|
| ROE | 14.06% |
| ROCE | 9.89% |
| RoNW | 7.22% |
| PAT Margin | 5.43% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 1.34 | |
| P/E (x) | 35.82 | |
| Promoter Holding | 100.00% | 71.77% |
| Market Cap | ₹7.19 Cr. |
The Shoora Designs IPO is subscribed 64.52 times on August 21, 2023 7:02:00 PM (Day 3). The public issue subscribed 93.73 times in the retail category, [.] times in the QIB category, and 34.68 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 34.68 | 1,98,000 | 68,67,000 |
| Retail | 93.73 | 1,98,000 | 1,85,58,000 |
| Total | 64.52 | 3,96,000 | 2,55,48,000 |
Total Application : 8,765
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue Management fees including fees and payment to other intermediaries such as Legal Advisors, Registrar to the Issue and other out of pocket expenses | 0.15 |
| 2 | Fees payable to advertising and marketing expense | 0.05 |
| 3 | Fees Payable to regulators including stock exchange | 0.02 |
| 4 | Printing and stationery expenses | 0.03 |
| 5 | Brokerage and Selling Commission | 0.01 |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹48.00 |
| Open | ₹91.20 |
| Low | ₹91.20 |
| High | ₹95.76 |
| Last Trade | ₹95.76 |
Lead Manager Reports
Shoora Designs IPO is a SME IPO of 4,23,000 equity shares of the face value of ₹10 aggregating up to ₹2 Crores. The issue is priced at ₹48 per share. The minimum order quantity is 3000.
The IPO opens on Thu, Aug 17, 2023, and closes on Mon, Aug 21, 2023.
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 Shoora Designs IPO using UPI as a payment gateway. Zerodha customers can apply in Shoora Designs IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Shoora Designs IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Shoora Designs IPO opens on Thu, Aug 17, 2023 and closes on Mon, Aug 21, 2023.
Shoora Designs IPO lot size is 3000, and the minimum amount required for application is ₹1,44,000.
You can apply in Shoora Designs 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 Shoora Designs IPO will be done on Thursday, August 24, 2023, and the allotted shares will be credited to your demat account by Mon, Aug 28, 2023. Check the Shoora Designs IPO allotment status.
The Shoora Designs IPO listing date is on Tue, Aug 29, 2023.
