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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 ₹48.00 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). The minimum lot size investment for 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 Date | August 17, 2023 to August 21, 2023 |
| Listing Date | August 29, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹48 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 4,23,000 shares (aggregating up to ₹2.03 Cr) |
| Reserved for Market Maker | 27,000 shares Rikhav Securities Ltd. (aggregating up to ₹0.1296 Cr) |
| Net Offered to Public | 3,96,000 shares (aggregating up to ₹1.90 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 10,75,662 shares |
| Share Holding Post Issue | 14,98,662 shares |
Shoora Designs IPO offers total 4,23,000 shares. Out of which 1,98,000 (46.81%) allocated to NII, 1,98,000 (46.81%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 27,000 (6.38%) |
| NII (HNI) Shares Offered | 1,98,000 (46.81%) |
| Retail Shares Offered | 1,98,000 (46.81%) |
| Total Shares Offered | 4,23,000 (100.00%) |
Shoora Designs IPO opens on August 17, 2023, and closes on August 21, 2023.
| IPO Open Date | Thu, Aug 17, 2023 |
| IPO Close Date | Mon, Aug 21, 2023 |
| Tentative Allotment | Thu, Aug 24, 2023 |
| Initiation of Refunds | Fri, Aug 25, 2023 |
| Credit of Shares to Demat | Mon, Aug 28, 2023 |
| Tentative Listing Date | Tue, Aug 29, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Mon, Aug 21, 2023 |
Investors can bid for a minimum of 3,000 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 | 3,000 | ₹1,44,000 |
| Retail (Max) | 1 | 3,000 | ₹1,44,000 |
| HNI (Min) | 2 | 6,000 | ₹2,88,000 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 0.75 | 15.03 | 168.99 |
| Total Income | 16.26 | 210.61 | |
| Profit After Tax | -0.50 | 3.91 | 11.46 |
| Net Worth | 0.50 | 4.41 | 158.59 |
| Reserves and Surplus | -0.50 | 3.41 | 51.02 |
| Total Borrowing | 0.30 |
The market capitalization of Shoora Designs IPO is ₹7.19 Cr.
The company intends to utilize the net proceeds from the issue towards working capital requirements and general corporate purposes.
[Dilip Davda] The company operates in a highly competitive and fragmented segment with many players around. It has posted minuscule financial performance for the last two fiscals. Based on FY23 earnings, the issue is greedily priced. Tiny paid-up equity capital post-listing indicates a longer gestation period for migration to the mainboard. There is no harm in skipping this pricey issue. Read detail review...
| Listing Date | August 29, 2023 |
| BSE Script Code | 543970 |
| NSE Symbol | |
| ISIN | INE0OJZ01019 |
| Final Issue Price | ₹48 per share |
| BSE Listing Group | MT |
| Price Details | BSE SME |
|---|---|
| Final Issue Price | ₹48.00 |
| Open | ₹91.20 |
| Low | ₹91.20 |
| High | ₹95.76 |
| Last Trade | ₹95.76 |
Shoora Designs Ltd.
Diamond Apartments Co-op Housing Society,
LT H No. 7/3388/A, 6th floor,
C/1, 601, Haththupura char rasta,
Surat, Gujarat, 395003
Phone: +91 9004746705
Email: compliance@shooradesigns.com
Website: https://www.shooradesigns.com/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: shooradesigns.ipo@kfintech.com
Website: https://ipostatus.kfintech.com/
Shoora Designs IPO is a SME IPO of 4,23,000 equity shares of the face value of ₹10 aggregating up to ₹2.03 Crores. The issue is priced at ₹48 per share. The minimum order quantity is 3000.
The IPO opens on August 17, 2023, and closes on August 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 August 17, 2023 and closes on August 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 Monday, August 28, 2023. Check the Shoora Designs IPO allotment status.
The Shoora Designs IPO listing date is on Tuesday, August 29, 2023.
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